The Indian School of Business (ISB) has launched 'ISB Idiya' - a unique initiative that invites ideas for innovative social ventures from working professionals in India. The competition is not open to students who are pursuing any full time programme. The competition is being led by the Net Impact - a social responsibility club at the ISB.
Speaking on the significance of 'ISB Idiya', Ajit Rangnekar, Dean, ISB, said, "We would like to encourage social entrepreneurship amongst youth in India through ISB Idiya. We hope that new age business models from young people will change the social sector scenario in India. This initiative will support aspiring entrepreneurs from idea generation to execution through mentorship and entrepreneurial training."
The event was launched by Vijay Mahajan, Chairman and Founder of Basix. "The world of business is not always about maximising social good. If you want to work with social entrepreneurship, the fuel for this has to be commercial," he said He also spoke on the role of business schools in providing the right fertile ground for potentially sound social venture since they straddled the world of economy, enterprise and policy.
The business plans will be evaluated on the following criteria:
-- Social Business Context
-- Business Plan and Innovativeness
-- Financial Sustainability and Profitability
-- Social Impact