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<keyword id="153607" type="ORGANIZATION" weightage="100" keywordseo="social-entrepreneurship">Social entrepreneurship</keyword> is the application of business acumen, strategies and entrepreneur skills not for profit but to improve the conditions of human beings and the environment, and India does need it for effective social change, growth and reforms. 
 
Despite the best efforts of the government and other organisations, about 400 million Indians live on less than $1 per day. The 2012 HDI (human development index) report for countries indicates a poor ranking of 136 out of 187 for India. 
 
India has been concentrating on a growth index through manufacturing and IT sectors but the resulting benefits have not gone to the bottom of the pyramid. Income inequality has doubled in the last 20 years. 
 
India is unique in the diversity of its regions and people. Often local problems need local solutions. It is here that social entrepreneurship or social entrepreneurs or SOCENTS come into the picture and build bridges to social improvement. 
 
Combine this with the Indian spirit of Jugaad and there have been innumerable instances of simple inventions and adaptations that have changed life for the better not just economically, but on the comfort level also. 
 
A growing change in the perception of life goals has led to a large number of educated, highly trained professionals turning into SOCENTS. This is desirable as they bring their professional and business acumen and can create and put into place working, sustainable and profitable solutions to local problems. 
 Harish Hande, co-founder of <keyword id="1535069" type="UNKNOWN" weightage="100" keywordseo="Selco-Solar">Selco Solar</keyword>, has over the past 18 years through his company installed over 1.35-lakh solar systems. He went a step further and created an entire ecosystem, including finance and farmer co-operatives to create income generating activities. The Selco Incubation Centre mentors social entrepreneurs. Selco Foundation, the philanthropic segment of Selco, provides the rural poor with renewable energy services that they can use for income generating activities. 
 <keyword id="168701" type="PERSON" weightage="100" keywordseo="Verghese-Kurien">Verghese Kurien</keyword>, father of the Milk Revolution, turned India form a milk importer to the world’s largest milk producer and today AMUL is a byword in milk and dairy products. 
 
Interestingly, many of the projects have not been single product innovations but have led to all-round related growth and development. They have transformed not just individuals but communities and in the case of Kurien the whole country. 
 
Eye care was one of the most neglected health sectors in India. Doctor G Venkataswamy founded the Aravind Eye Hospital, which is today one of the world’s largest facilities for affordable, top-quality eye care. 
 
Vaatsalya Healthcare brought healthcare to the rural poor. 
 
Doctor Sugata Mishra’s Hole in the Wall experiment with computer accessibility to untrained poor children was a success in making computer knowledge available and was a starting point for other social enterprises for furthering computer education amongst the poor. 
 
The list is endless. India is the global centre for social entrepreneurship. 
 
However, the biggest boon has been the rise of ‘Microfinance’. Vikram Akula established SKS Microfinance in 1988 paving the way for several social microfinance set ups such as Milaap at the grass root level. 
 
The tremendous contribution made by SOCENTS should be encouraged. The government should make it easier for Indian and foreign investments in Socents via easy taxation policies, regulatory frameworks and guidelines. The government could also create social impact bonds like in the United Kingdom to encourage social innovation. Another project that can be emulated is the Singapore Impact Investment Fund that provides private and public platforms for raising capital efficiently for social enterprises. 
 
The corporate sector has also contributed and the Tata group has been in the forefront through their various trusts and the Tata School of Social Sciences in fostering social entrepreneurship. The Shell Foundation-funded Husk Power Systems in its enterprise to obtain power from rice husk. 
 
The government has now made it mandatory through the CSR Bill (corporate social responsibility in the new Companies Act) for big corporations to set aside 2% of their profits for social programmes that include investments in social business ventures. This will open up funding of more than a billion dollars for Socents and further growth of social entrepreneurship in India. 
 
India should take into account depleting natural resources and focus on environment-friendly and sustaining social innovations to balance growth with environment concerns. The China example of economic growth at the cost of rising pollution should serve as a deterrent. Pollution has become one of the major causes of social unrest in China. 
 
The changes in economic models from capitalism to a more socially responsible capitalism have thrown the focus on social entrepreneurship. 
 
Social entrepreneurship is here to stay and could well be the major economic growth factor for India and to achieve the ‘Indian dream - sarvajana sukhonobhava’, ie, let everyone be happy.

Social Entrepreneurship In India Is The Panacea For Social Change And Improvement

We are entering an Age of Complexity manifested by intensified economic unpredictability, tectonic demographic and technological shifts, and accelerating scarcity of resources. Adversity has become the new normal. The good news is that we humans are typically good at coping with adversity. From a biological perspective, humans are pre-programmed to react predictably to adverse—and even hostile—situations thanks to our well-perfected “fight-or-flight” instinct. Sadly, however, this preconditioned “fight-or-flight” reaction fails to produce optimal responses in today’s complex world. When we face an intractable problem many of us tend to throw in the towel quickly or keep on fighting the issue wishing it will vanish. Now visualize this: what if you could transcend this binary “fight-or-flight” reaction and uncover a “third way”—a new outlook that empowers you to see adversity as an opportunity for personal and collective growth? Adversity will suddenly morph into your ally—an ally that can ignite your ingenuity and drive you to the unearthing of revolutionary solutions that yield amazing value for yourselves and for humanity. You will become a modern day alchemist—one who can literally transmute adversity into opportunity. Such alchemists do exist—and many of them live in emerging markets like India. 
 
Take Kanak Das, a young man who lives in Morigaon, a remote village in the northeast Indian state of Assam. Das got sick of riding his bicycle on poor village roads filled with potholes and bumps. Assume you were an R&amp;D engineer who works for <keyword id="6355174" type="CITY" weightage="80" keywordseo="Ford">Ford</keyword>, <keyword id="6355119" type="CITY" weightage="80" keywordseo="BMW">BMW</keyword>, or <keyword id="6374528" type="CITY" weightage="80" keywordseo="Toyota">Toyota</keyword> trying to design a car that can ride smoothly on such potholes-filled roads: your “fight” instinct would have told you to design better shock absorbers to overcome the bumps. But Das didn’t “fight” the bumps: instead, he used this constraint to his advantage by equipping his bicycle with a makeshift device that converts the shocks it gets into acceleration energy—enabling his bicycle to run faster on bumpy roads! 
 
Das literally transformed adversity into an opportunity to innovate and extract value from the very problem he confronted. Das epitomizes the spirit of jugaad. Jugaad is a hindi word meaning an innovative fix or an improvised solution born from ingenuity and cleverness. Jugaad is, quite simply, a unique way of thinking and acting in response to challenges; it is the gutsy art of spotting opportunities in the most adverse circumstances and resourcefully improvising solutions using simple means. Jugaad is about seeing the glass always half-full. 
 
Jugaad Innovators: The Modern Day Alchemists 
 Jugaad is practised by almost all Indians in their daily lives to make the most of what they have. Jugaad applications include finding new shrewd uses for everyday objects—Indian kitchens are replete with empty soft drink or pickle bottles reused as containers for water, spices, or lentils— or inventing new utilitarian applications and ingenious solutions with everyday objects, like using cellphones to make “missed calls”. 
The entrepreneurial spirit of jugaad is not limited to India. It is widely practised across all emerging economies such as China, <keyword id="12925" type="ENTERTAINMENT" weightage="80" keywordseo="Africa">Africa</keyword>, and Brazil, where resilient entrepreneurs are also pursuing growth in difficult circumstances. The Brazilians have their own word for this resourceful approach: jeitinho. The Chinese call it zizhu chuangxin, or indigenous innovation (in contrast with shanzhai, meaning copycat versions of foreign-made products). The Kenyans refer to it as jua kali. In our book Jugaad Innovation, my co-authors and I delved into the frugal and flexible mindset of thousands of ingenious entrepreneurs and enterprises around the world practicing jugaad to creatively address critical socio-economic issues in their communities. In Kenya, for instance, entrepreneurs have invented a device that enables bicycle riders to charge their cellphones while pedalling. 
 
In the Philippines, Illac Diaz invented A litre of light—a recycled plastic bottle containing bleach-processed water that refracts sunlight, producing the equivalent of a 55-watt light bulb. This product—which costs only $1—is a boon for scores of Filipino families living in makeshift houses in off-the-grid shantytowns. And in <keyword id="15735" type="CITY" weightage="80" keywordseo="Lima">Lima</keyword>, <keyword id="6360497" type="COUNTRY" weightage="80" keywordseo="Peru">Peru</keyword> (a country with 98% humidity that receives only 1 inch of rain a year), the local university of engineering and Technology (UTEC) has designed advertising billboards that can generate up to 100 litres of potable water out of humid air each day. 
 
The jugaad innovators we studied all hail from different cultures and social and professional backgrounds. Yet they all share one unique quality: their uncanny ability to “make lemonade with any lemon” they are given. They are resilient entrepreneurs who overcame tremendous difficulties to invent ingenious solutions to vexing issues afflicting our societies. Like magicians, they conjured up these innovative solutions out of thin air—using meagre resources. Just as an alchemist can convert low-value metal into high-value gold, these frugal innovators can “do more with less”: they can create lot more value using far fewer resources. 
 
What Makes Jugaad innovators— And Their solutions—Unique? 
Despite their diversity, all the jugaad innovators—be they entrepreneurs or corporate leaders—we studied in India and other emerging markets all have the following unique personality traits in common: 
 
They are empathetic 
They recognize that their fellow citizens are suffering from adverse circumstances (e.g., poor access to healthcare or education services) and strive to lessen their pain. It is this compassion for other beings that sparks their own passion to discovering pertinent solutions to issues afflicting others. 
 
For instance, Jane Chen, a Stanford MBA, was deeply moved by the fact that 20 million babies are born prematurely or with a low birth weight each year worldwide, and four million of them die, most in developing nations, because their parents can’t afford to maintain them in baby incubators, which are too expensive. To address this issue, Jane co-founded Embrace, which makes inexpensive portable infant warmers that low income mothers in rural India, China, and Africa can use to keep their premature babies warm, and thus save their lives. 
 
They are driven by a higher purpose 
 
Jugaad innovators are not driven by fame or money. Rather, they are motivated by the aspiration to build “a better world”. This higher purpose provides them great ethical clarity and serves as an inner compass that guides all their decisions and actions. 
 
For instance, brothers <keyword id="299988" type="PERSON" weightage="80" keywordseo="Abhishek-Sinha">Abhishek Sinha</keyword> and Abhinav Sinha co-founded Eko to make <keyword id="6354241" type="COMPANY" weightage="80" keywordseo="Financial-Services">financial services</keyword> affordable and accessible to the 600 million Indians who can’t avail of banking services. Eko enables low income people to open a savings account in a kirana (neighborhood retail store) and then merely use a mobile phone to deposit/withdraw cash as well as send/receive money. 
 
They are nonconformists 
 
Jugaad innovators boldly challenge the status quo by relentlessly posing the question: “why not?” They exhibit what Samuel Taylor Coleridge calls “uncommon common sense”: they develop counterintuitive solutions that flout conventional wisdom or even turn it on its head. 
 
For example, when <keyword id="6360722" type="PERSON" weightage="80" keywordseo="ratan-tata">Ratan Tata</keyword> announced his decision to produce the Nano industry experts and media analysts scoffed at the idea of making a $2,000 car, for which they believed there would be no market. But the maverick Tata stuck to his counterintuitive decision and he ended up creating not only a breakthrough car but he also shaped an entire new market for subcompact cars that western automakers are jumping into lately. 
 
They are ingeniously resourceful 
 
Just like MacGyver (the famed TV action hero who can escape from any predicament by improvising solutions using just his Swiss Army knife), jugaad innovators display great ingenuity in the face of challenges. They leverage their (inner) resourcefulness when they have no external resources to tap into. They embody the frugal “bricoleurs” whom the legendary anthropologist Claude Lévi-Strauss lauded in his seminal book La Pensée Sauvage. According to Lévi-Strauss, a bricoleur taps into existing resources to quickly solve a problem—unlike an engineer who goes searching for the best resources available to design a perfect solution. 
 
Mansukh Prajapati is one such bricoleur: a potter by training, he created Mitticool, the world’s “greenest” fridge made entirely of clay that consumes no electricity and is 100% biodegradable. 
 
They are adaptable 
 
Jugaad innovators possess an agile mindset that enables them to rapidly shift course and reach their objectives by trying out various approaches. They are not wedded to any specific approach or tool to solving problems. Their sense of purpose is steadfast (“make the world a better place”) but their method to serving that purpose is dynamic and constantly evolving. Hence, they are resilient and can “reinvent” themselves continually. 
 
For example, Harish Hande founded Selco in 1995 to debunk the myths that poor people can’t afford <keyword id="6357019" type="UNKNOWN" weightage="80" keywordseo="solar-energy">solar energy</keyword> and cannot maintain sustainable technologies. Conservative banks refused to fund his start-up and he initially struggled to convince rural consumers to switch from cheap-but-polluting kerosene to solar systems. But Hande applied his flexible thinking to improvise an ingenious solution that involves a grassroots network of micro-entrepreneurs who charge, install, maintain, and collect payment for solar lighting systems that they rent to people in remote villages. 
 
These personality traits of jugaad innovators also pervade the clever solutions they conceive. All their astute solutions (products or services) share the following attributes: 
 
• They deliver more value at less cost: Their ingenious solutions are low-cost (or much less expensive than alternative solutions in the market) and yet they offer much greater value for users. As a result, these solutions deliver “more value for less”. For instance, the embrace portable infant warmer costs less than $200—or 1% of the cost of western baby incubators priced at $20,000. More importantly, mothers can now hold against them their premature babies— dramatically boosting their chances of survival. That’s real value! 
• They are simple to use and maintain: The solutions are designed to be incredibly simple to use and maintain, thus lowering their “adoption barriers” for a larger number of users. For example, Eko’s mobile banking and payment services can be accessed using even the most basic mobile handset. This ease of use is a key success factor of Eko’s service which today counts 2 million clients. 
• They are inclusive: The solutions make critical products and services available and accessible to “marginal segments” of the society—e.g., low income people, the elderly, ethnic minorities— who traditionally couldn’t afford or access these products/services due their high cost or high complexity. For example, Selco’s solar lighting systems are now used by over 125,000 rural households across India (Selco aims to serve 200,00 households by 2013). 
• They are sustainable: The solutions are both environmentally and socially sustainable. First, these solutions are eco-friendly and minimize use of natural resources. Second, these solutions contribute to the social sustainability of local communities by spawning new “ecosystems” that create new jobs, etc.—thus catalysing a virtuous cycle of enduring socio-economic growth. For instance, Mansukh Prajapati involves many women in his village in Gujarat to produce his Mitticools, thus creating gainful employment for local community members. 
 
The rise of Jugaad innovation in The West The developed world, like emerging economies, is increasingly facing its own problems in areas such as healthcare, education, finance, and community development. Cash-strapped western governments, however, are unable to deal with these challenges on their own. In this context, a new wave of flexible-minded jugaad innovators in the US and Europe are emerging. These nonconformists are turning the conventional practices of many industries upside down, and in the process creating affordable and sustainable products and services for more citizens. 
 
For instance, Sal Khan founded Khan Academy to democratize access to education and make learning more fun for kids. He has created over 4,000 video tutorials for math, sciences, and engineering that are freely available on <keyword id="10879" type="CITY" weightage="80" keywordseo="YouTube">YouTube</keyword> and are today viewed by over 6 million users a month. Similarly, Erik Douglas co-founded CellScope, a start-up that converts your smartphone into a medical diagnosis tool so you can do ear, throat, and skin exams at home without having to visit an expensive lab. CellScope is a boon for the 50 million Americans who lack medical insurance. And to meet the needs of the 68 million Americans today who are unbanked or underbanked, <keyword id="2787085" type="UNKNOWN" weightage="80" keywordseo="Danny-Shader">Danny Shader</keyword> founded PayNearme, which enables US citizens without credit/debit cards to pay for online transactions by cash in local convenient stores. 
 
Universities too are joining this jugaad innovation movement in the west. Several higher education institutions in the US and Europe are training a new breed of engineers and managers to design next-generation products and services that can deal with scarcity in a frugal and sustainable manner. For instance, Stanford runs a very popular multidisciplinary program called entrepreneurial design for Extreme Affordability. And <keyword id="54274" type="ORGANIZATION" weightage="80" keywordseo="MIT">MIT</keyword>, with funding from Ratan Tata, recently launched the <keyword id="2481320" type="UNKNOWN" weightage="80" keywordseo="Tata-Center-for-Technology-and-Design">Tata Center for Technology and Design</keyword> to train future generation of engineers and business leaders to create affordable technologies and inclusive systems that meet the needs of resource-constrained communities in the developing world. Finally, several vanguard western corporations— helmed by visionary CEOs—are pioneering the adoption of jugaad innovation. The most notable of them is the global carmaker <keyword id="70040" type="COMPANY" weightage="80" keywordseo="Renault-Nissan">Renault-Nissan</keyword>, whose CEO, <keyword id="69288" type="PERSON" weightage="80" keywordseo="Carlos-Ghosn">Carlos Ghosn</keyword> famously coined the term “frugal engineering” in 2006 to describe the Indian engineers’ unique ability to conceive high-quality solutions faster, better, and cheaper. Ghosn is a big admirer of the jugaad mindset. As he puts it: “In the west, when we face huge problems and we lack resources, we tend to give up (too) easily. Jugaad is about never giving up!” In 2012, he sent Gérard Detourbet, a senior French executive in charge of <keyword id="43777" type="CITY" weightage="80" keywordseo="Renault">Renault</keyword>’s entry-level car business, to India. From his new R&amp;D center in Chennai, Detourbet will be designing and producing several vehicles—all built on the ultra-low-cost “A-entry” platform—that will first be launched in India and then marketed in Brazil and <keyword id="6355117" type="COUNTRY" weightage="80" keywordseo="South-Africa">South Africa</keyword>. There is no doubt that when Detourbet returns to Renault’s headquarters in Paris, he will carry with him the flexible jugaad mindset he acquired in India. 
 
Ultimately, the ingenious solutions devised by these audacious jugaad innovators—our modern day alchemists—in emerging markets as well as in developed economies stand out not because they are “clever” but because they bring hope to millions around the world. In today’s morose economic climate and challenging social context, these alchemists help transmute pessimism into optimism—and that, by itself, is priceless. These ingenious alchemists—and their frugal and agile jugaad mindset—not only represent the hope for humanity but they also help restore our faith in humanity. 
 This article is partially adapted from the book Jugaad Innovation: A Frugal And Flexible Approach To Innovation For The 21st Century (<keyword id="189391" type="ORGANIZATION" weightage="80" keywordseo="Random-House-India">Random House India</keyword>, 2012). 
 (<keyword id="373112" type="PERSON" weightage="80" keywordseo="Navi-Radjou">Navi Radjou</keyword>, an innovation and leadership strategist based in <keyword id="6357722" type="COMPANY" weightage="80" keywordseo="silicon-valley">Silicon Valley</keyword> and <keyword id="192175" type="POSITION" weightage="80" keywordseo="co-author">co-author</keyword> of best selling books including Jugaad Innovation; From Smart to Wise: Acting and Leading with Wisdom; and most recently Frugal Innovation: How to do more with less, leads an engaging discussion with a group of like minded individuals brought together by Thinkers (<a href="http://www.thinkers.in/">www.thinkers.in</a>) on how new technologies (mobility, social media, Internet of Things, 3D printing) and groundswell socio-economic movements (e.g., sharing and circular economy, maker movement) are dramatically lowering the cost of innovation worldwide.)

Thinkers/Thinkers 50: Know what 'Jugaad' or frugal innovation has done for the world!

<ul><li>There are over<a href="https://www.britishcouncil.org/sites/default/files/bc-report-ch4-india-digital_0.pdf"> 2 million</a> recognised <keyword id="910850" type="General" weightage="20" keywordseo="social-enterprises" source="Orion">social enterprises</keyword> in India, compared to 56,000+ startups.</li><li>While organisations wake up to the need for action, many social enterprises are already working on a list of challenges that go back decades. </li><li><keyword id="2688812" type="General" weightage="20" keywordseo="TiE-hyderabad" source="Orion">TiE Hyderabad</keyword>'s Manohar Reddy noted that financing solutions and grants for social enterprises have started emerging in India.</li></ul> There are over<a href="https://www.britishcouncil.org/sites/default/files/bc-report-ch4-india-digital_0.pdf"> 2 million</a> recognised social enterprises in India — compared to 56,000+ startups recognised by the government — yet you hardly hear about them making the headlines. In order to provide proper backing and an ecosystem to fall back upon, TiE Hyderabad is hosting <keyword id="12242243" type="General" weightage="20" keywordseo="TiE-sustainability-summit" source="Orion">TiE sustainability summit</keyword> on October 4 and 5, 2021. The summit will be attended by 25,000 social enterprises from 54 countries, making it the world’s largest summit for social enterprises in the sustainability space. The event aims to create a community of social entrepreneurs and offer support for financing, networking and collaboration for enterprises across countries. Business Insider is an insights partner to this event. Are there really any opportunities in the Indian social enterprises space? “Those companies working toward sustainability will save the planet, will reduce the carbon emissions, will get us to the net zero condition, where we will leave this planet in a better shape for the next generation,” Manohar Reddy, chair of TSS 2021 and president TiE Hyderabad, told Business Insider. The concept of ESG (Environment, social and governance) investing is gaining prominence. While organisations wake up to the need for action, many social enterprises are already working on a list of challenges that go back decades. The following are some of the examples: <ol><li>Poverty eradication</li><li>Find solutions to water and food production challenges</li><li>Deployment on modern technologies to eradicate social, climate, pollution related issues</li><li>Providing a platform for discussion, debate, influencing policy making in the sustainability space</li><li>Issues related to life on land, life under water</li><li>Gender equality</li><li>Education, healthcare, livelihood and other key issues plaguing the society.</li></ol>Few examples of India’s social enterprises <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Social Enterprise </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">What they do </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bandicoot </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bandicoot has developed a robot that cleans manholes. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SHEF (Study Hall Education Foundation) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shef offers education to disadvantaged girls in India. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Selco </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Selcon runs a rural solar financing program in India </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Goonj </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">A social enterprise that collects used clothing from the urban crowd, sort them, fix and later distribute among the poor and needy. </td></tr></tbody></table> Reddy noted that financing solutions and grants for social enterprises have started emerging in India. It’s only the matter of right mentorship to divert them to that direction and help them build a scalable enterprise. Meanwhile, it is also true that the social enterprise has been lost in the shine of Indian startups that have the potential to over attract attractive returns. Many only take notice of this social segment in the name of tax rebates and corporate social responsibility. Recently, a panel constituted by the market regulator Securities and Exchange Board of India (SEBI) advised the setting up of a ‘social stock exchange’. It would work like a regular stock exchange except that the firms listed on it would be non-government, social enterprises. This would help many of these upstarts raise money for their ventures. “The new technologies, when I, when we say sustainability, when we are committed to sustainability. We have to commit to new and new technologies in the energy space, it is how energy is produced, maybe the solar photovoltaic technology or the advancements in the solar technologies in our renewable energy technologies and how we store that and how we disseminate it,” Reddy said, adding this is just an example hoe opportunities can be created by making technology that don’t emit carbon dioxide. He added that there are social aspects to sustainability too, which offer better life and livelihood to people. SEE ALSO <a href="https://www.businessinsider.in/thelife/news/meet-girish-mathrubootham-founder-and-ceo-of-freshworks/articleshow/86453777.cms">Girish Mathrubootham, the son of a retired bank officer who built a $13 billion company in just 10 years</a> <a href="https://www.businessinsider.in/india/news/anil-ambani-sachin-tendulkar-kiran-shaw-and-other-indians-named-in-the-pandora-papers-leak/articleshow/86745435.cms">Anil Ambani, Sachin Tendulkar, Kiran Shaw and other Indians named in the Pandora Papers leak</a> <a href="https://www.businessinsider.in/business/startups/news/byjus-has-raised-1-3-billion-this-year-to-so-far-in-pursuit-of-its-american-dream/articleshow/86745427.cms">Byju’s has raised $1.3 billion this year to so far in pursuit of its American dream</a>

There are thousands of startups causing real change but you may have never heard of them

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Social Entrepreneurship In India Is The Panacea For Social Change And Improvement

Preetam Kaushik

Thinkers/Thinkers 50: Know what 'Jugaad' or frugal innovation has done for the world!

thinkers50

There are thousands of startups causing real change but you may have never heard of them

Kritti Bhalla

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