5 social enterprises bag INR 4.5 million funding at SBI Youth for India Conclave 2024

5 social enterprises bag INR 4.5 million funding at  SBI Youth for India Conclave 2024Bangalore, 17th April 2024: SBI Foundation, the CSR arm of the State Bank group recently hosted the two-day SBI Youth for India Conclave in Bangalore, offering a dynamic platform to social entrepreneurs and trailblazers from the social sector. The event, held in Bangalore witnessed the convergence of social entrepreneurs, academia, civil society representatives, and alumni of the SBI Youth for India (YFI) Program.

At the YFI Conclave, ‘SBI YFI Sahyog – The Pitch Fest’ saw 9 social enterprises compete for funding, where 5 winners were granted seed funding of INR 4.5 million. The initiative aims to provide seed funding to promising non- profit and for-profit ventures led by SBI YFI alumni, facilitating their continued efforts towards social impact and community development. The selection process for the winning ventures involved a rigorous assessment and evaluation conducted by an esteemed jury comprising Mr. Sanjay Prakash (MD & CEO, SBI Foundation), Mr. Jagannath Sahoo (President & COO, SBI Foundation), Dr. Gayathri Swahar, Senior Director, Social Entrepreneurship at The/Nudge Institute and Co-founder of Ycook India, Mr. Suresh Krishna Bandi, Associate Vice President- Programs & Partnerships, I-Ventures@ ISB, Hyderabad, and Mr. Gyan Prakash Program Head, SBI Youth For India Fellowship.

Addressing the distinguished gathering at the Youth for India Conclave 2024, Mr. Sanjay Prakash, Managing Director & CEO of SBI Foundation, emphasized the pivotal role of the youth in driving transformative change within the country. He said, “The future of our nation hinges upon its young, educated, and socially conscious demographic. Through initiatives like the Youth for India Fellowship, we have witnessed firsthand how our young Fellows have harnessed their potential to initiate tangible social impact projects in rural communities. Having impacted 1,50,000+ lives in 250+ villages across the length and breadth of the country, we take pride in nurturing social entrepreneurship and contributing to India’s national priorities around rural development.” Mr. Prakash further highlighted, “The projects spearheaded by our Fellows have not only accelerated rural development but have also fostered inclusive and sustainable growth across 20 states in the remotest corners of our country.”

The event was attended by some eminent personalities such as Mr. Debasish Mishra, GM, Business Solutions, State Bank of India, Mr. Vishwanath S, Visiting faculty, Azim Premji University, Mr. Prahlathan KK, Founder, Bhumi, Mr. Vasimalai M.P., Executive Director, DHAN Foundation, Ms. Sanchita Mitra, National Coordinator, SEWA Bharat, Mr. Liby Johnson, Executive Director, Gram Vikas, Ms. Geeta Verghese, former Coordinator, Youth for India apart from others, who added valuable insights and perspectives to the deliberations.

The Youth for India Conclave served as a platform for social sector organisations for dialogue, networking and possible collaborations in the rural development sector. The Youth for India Conclave 2024 featured an array of interactive sessions, including advisory forums, speed networking, boot camps, YFI Sahyog-The Pitch Fest, and formal and informal discussions, fostering collaboration and knowledge exchange among non-profits, think tanks, YFI Fellows, and other stakeholders from across the country.

Through various projects, SBI YFI Fellows have made notable contributions in diverse thematic areas, including Health, Rural Livelihood, Food Security, Environmental Protection, Education, Water Conservation, Technology Integration, Women’s Empowerment, Self-Governance, Social Entrepreneurship, Traditional Crafts, and Alternative Energy. SBI Youth for India Fellowship is currently accepting applications for the 12th batch.