BANGALORE, January 25, 2017 /PRNewswire/ —
Brings Together a Great ‘Collective’ of Leaders to Support and Mentor Nonprofits
The/Nudge Foundation today announced the launch of N/Core, an incubator exclusively for nonprofit startups working on poverty-related problems. For the first time, 100+ of the most renowned leaders from startups, nonprofits and large corporates are coming together as a ‘Collective’ to mentor the nonprofit startups. The/Nudge will invest over 50 crores to incubate and support 100+ nonprofit startups through N/Core over the next 5 years.
Atul Satija, Founder and CEO of The/Nudge, said, “The magnitude of India’s poverty and related problems needs our entire generation to invest itself single-mindedly into solving this issue. With N/Core, we want to make it easier for the ones who care to jump in and do their bit. N/Core is a bold attempt to help create a new breed of high-impact and scalable nonprofits.”
N/Core is building the necessary ecosystem for early-stage nonprofits by attracting smart people and providing them with seed grants, co-working space, guidance and mentorships and the right connections for growth. Commenting on the launch, Vijay Shekhar Sharma, CEO, Paytm, who is a Founding Patron of N/Core said, “The for-profit startup ecosystem in India is thriving now. But there is only so much that a for-profit organisation can do to create equality of opportunity for people who are at the bottom of the pyramid. To build nonprofits who solve for large scale issues, it is imperative to build a similar ecosystem that our for-profit startups enjoy.”
N/Core is building a ‘Collective’ of 100 leaders, with very rich and diverse experiences, who will spend time mentoring and guiding the exceptional individuals the program will select. The ‘Collective’ includes CEOs of top foundations to nonprofit leaders to unicorn founders to book authors, among many others.
Commenting on the initiative, Anantha Padmanabhan, CEO, Azim Premji Philanthropic Initiatives, said, “The ambition and scale of N/Core are unmatched in the sector. The team at The/Nudge has the capabilities to pull off this audacious project. Moreover, the roster of mentors and leaders who have come together at N/Core is sure to make any nonprofit feel welcome. N/Core will inject startup philosophy into the sector and could very well mark a turning point in the way nonprofits are conceptualised and built.”
The incubator, which is based in Bangalore, is launching its first program, ‘N/Core alpha’, together with Social Alpha, along with Ashoka, Dalberg, Deshpande Foundation, Dr. Reddy’s Foundation, Wipro, ACC and many others. The incubator will host nonprofits that are 0-3 years old and are working to create highly innovative and scalable solutions in areas such as education, healthcare, employability, access to finance, agriculture, water, sanitation, energy, gender equality, human rights and disaster management.
About The/Nudge Foundation
The/Nudge Foundation is a collective initiative of some of India’s brightest entrepreneurs, leaders and change-makers coming together to tackle the greatest human development challenge of our times – poverty. The goal of the foundation is to bring 1 million people out of poverty. The Gurukul, flagship initiative of The/Nudge, focuses on sustainable poverty alleviation by building a strong 360-degree life, learning and economic foundation for poor in residential ‘Gurukuls’, along with lifelong support system.
The/Nudge foundation is supported by Nandan Nilekani and Tata Trusts and boasts of an illustrious advisory board including Dr. Devi Shetty (Chairman and Founder, Narayana Health); Manish Sabharwal (Chairman, Teamlease); Kiran Karnik (Ex-President of NASSCOM); Arun Seth, (Ex-Chairman British Telecom & Alcatel Lucent); Hugo Barra, (Ex-VP, Xiaomi); Dr. Pramath Sinha, (Founding Dean, ISB); Naveen Tewari, (Founder and CEO, InMobi) Vijay Shekhar Sharma, (Founder Paytm and One97), Manish Dugar (CFO,InMobi) and Neeraj Arora, (VP, WhatsApp Messenger).
The/Nudge Launches an Incubator for Nonprofit Startups
