Institute gives students three funding options to start own ventures.
Tata Institute of Social Sciences (TISS) has decided to continue its no-placement policy this year too and promote social entrepreneurship instead.
The students will get three funding options — a start-up capital of up to Rs 3 lakh, operational capital and fellowships. Last year, the centre for social entrepreneurship (CSE) at TISS School of Management & Labour Studies decided to do away with campus placements for students pursuing masters in social entrepreneurship.
The aim was to encourage own social ventures to tackle emerging or existing problems.
“We have created several support systems for students. These include start-up or seed money and fellowship fund. We also have step-up or working capital for scaling operations, which will range from Rs 30,000-60,000 per month for a year,” said Samapti Guha, associate professor at CSE.
To avail the money, students have to make presentations and explain the probable social impact a project will have in the next three years.
“Market conditions are still uncertain, hence it is essential we devise schemes that will enable students to run firms without worrying about the risks associated with starting a venture,” said another faculty member.
Last year, 15 students started own ventures supported by the institute.
“The students are doing well and have ventures in areas such as agriculture, solid waste management, health and education. While one has a start-up in Mumbai in the area of solid waste management, another is working for underprivileged children in Jharkhand, and a third is addressing water problems in Rajasthan. Seeing how well this scheme is working, we decided to retain the no-placement policy,” said Guha.
This year, 30 students are part of the batch. TISS has also started an incubation centre with funds received under a University Grants Commission innovation scheme to support and mentor students.