Social entrepreneurs working to bring change at the grass roots of Indian society have got big support from the U.S.-based non-profit funding agency Acumen Fund. And already there are impressive success stories from various parts of the country where poor people are getting cheap emergency medical care, uninterrupted power supply, drinking water and farming techniques.

Be it the case of ‘1298 Ambulances' service providing emergency medical care to the poor in Mumbai, Husk Power Systems in Bihar supplying round-the-clock electricity generated from agriculture waste, ‘d.light design' giving solar LED lights to rural and poor households, GEWP drip irrigation system helping farmers to achieve better productivity or WHI community water systems providing potable water — all have made major changes in the lives of the common man in India. It has been just six years since Acumen Fund opened its office in India and started helping social entrepreneurs, and the changes are visible.

“The success in India has been remarkable. In fact, products and services developed by India's social entrepreneurs have crossed borders and are helping the lives of people in places like Pakistan, Bangladesh and Africa. India is turning out to be a laboratory of innovation,” Acumen Fund Founder and CEO Jacqueline Novogratz told The Hindu.

Acumen Fund is a non-profit venture capital fund that raises philanthropic capital and invests in enterprises that focuses on delivering critical goods and services to low income people.

Asked why India is a key nation in Acumen Fund's scheme of things, Ms. Novogratz said: “Our investments reflect the country's global significance as a laboratory of innovation…we already see how projects funded by us are making big changes in the lives of millions of Indians. Our projects are not only helping poor Indians but are proving to be a big boost for other nations looking for similar solutions and interventions.”

She pointed out that despite its ongoing economic growth, India is home to 40 per cent of the world's poor, with 80 per cent of its over 110-crore people living on less than $2 dollars (around Rs. 90) a day. “Innovative solutions are needed to close the gap in access to basic goods and services and to promote more inclusive growth. In India, we now see many highly qualified professionals ready to work in the rural hinterland and in their own towns and cities to tackle development issues directly without depending much on the government. Many of our associates have returned from abroad to work for poor and rural folks. Social entrepreneurs of today are helping bridge the gap between the haves and have-nots in India,” Ms. Novogratz said.

Acumen Fund has so far invested around $25 million in India in around a dozen projects and it is adding 2 to 3 projects every year. “By 2015, we will be investing $50 million. We plan to invest around $5 million-7 million every year which is given as a loan/equity or both and what we get in return is re-invested in philanthropic projects. Our mission is to create a world beyond poverty by investing in social enterprises, emerging leaders, and breakthrough ideas,” Ms. Novogratz added.

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