N/Core, an incubator exclusively for non-profit startups, announced its three-year partnership with IT services firm Mphasis, to incubate non-profit startups in India. With this partnership, Mphasis will invest over ₹4.5 crore to incubate up to 26 non-profit startups over the three-year period. N/Core also announced the ten non-profit startups that they have selected for six-month incubation in their second batch of Open Cohort. This cohort is supported by Mphasis, Omidyar Network and DE Shaw & Co.
“This partnership... is an emphatic vote of their [Mphasis] faith in non-profit entrepreneurship as a means to nurture innovation in the development sector,” said N/Core CEO Sudha Srinivasan, in a statement.
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One of the selected nonprofits, BillionBricks which builds ‘PowerHYDE’ is the world’s first solar home for the homeless and it finances itself by the energy it produces and sells. Anthill Creations, mobilizes communities to create low-cost and sustainable playscapes for children from scrap tyres and recycled material. Another non-profit, Mijini Research, is building an ‘Urban Financial Intelligence Platform,’ a cloud-based reporting, analytics and scenario planning tool to assess the financial performance of urban local bodies.