We select eight to 12 entrepreneurs for each cohort who lead for-profit businesses that are creating jobs for people living in extreme poverty. Upaya’s expertise is in working with early-stage social enterprises, many of which have not yet raised significant prior funding. We invite applications from companies that match the following criteria:
Enterprises must be legally incorporated as a for-profit business in India.
Enterprises must be less than 5 years old with revenue-generating customers.
LITTLE PRIOR FUNDING
Enterprises have raised no more than 50 Lakhs in funding but are looking to raise more funding within 6-8 months.
SOCIAL IMPACT DRIVEN
Companies that create jobs for those living in extreme poverty or significantly improve income levels by purchasing from them. More details below.
Upaya defines a job as a full-time or part-time engagement that helps a person work themselves out of extreme poverty. We look for companies that enable their employees to:
increase their daily food expenditure for their families,
earn a reliable income that enables them to save for future needs,
receive training to strengthen their skills,
purchase assets like motorcycle/bicycle or refrigerator.
We seek companies that:
directly employ the extreme poor as employees
provide income as suppliers
help develop skills for the poor to enable them to get better jobs
provide substantial increase of income through aggregation