The/Nudge Foundation which is supported by industry stalwarts like Nandan Nilekani, Dr Devi Shetty and Manish Sabharwal, has launched an incubator for nonprofit startups working on poverty-related problems.
The organisation said that over 100 renowned leaders from startups, nonprofits, and large corporates are coming together as a ‘collective’ to mentor the nonprofit companies.
The/Nudge said that it will invest over Rs 50 crore to incubate and support over 100 young nonprofit firms through its incubator called N/Core over the next five years.
“The magnitude of India’s poverty and related problems needs our entire generation to invest itself single-mindedly into solving this issue,” said Atul Satija, founder of The/Nudge in a statement. “We want to make it easier for the ones who care to jump in and do their bit.”
The firm said that the incubator is building the necessary ecosystem for early-stage nonprofits by attracting smart people. It is also providing them with seed grants, co-working space, guidance and mentorship.
“To build nonprofits who solve for large scale issues, it is imperative to build a similar ecosystem that our for-profit startups enjoy,” said Vijay Shekhar Sharma, chief executive of digital payments provider Paytm and a founding patron of N/Core, in a statement.
