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India takes another step in the right direction as the Tata Group launches the ‘Tata Social Enterprise Challenge’, in association with the Indian Institute of Management Calcutta (IIMC), with the aim of finding the country’s most promising social enterprises.
The organization is encouraging early stage ventures to submit their business planes by logging onto www.tatasechallenge.org. These business ideas must involve an element of creating sustainable social impact and can be led by Indian nationals or not. Ultimately, the various business ideas will be judged on their business model, social impact and sustainability.
An initiative like this will hopefully lead to a plethora of ideas to solve problems in the areas of education, health, agriculture, energy, technology, housing, handicrafts and microfinance. In a country like India, we no doubt see wonderful potential for brilliant ideas to solve the numerous social, environment and economic problems this fast growing country faces.