TiE expects to facilitate funding to the tune of $100M at the sustainability summit
The Indian chapter of non-profit organisations, The IndUS Entrepreneurs, expect to facilitate long-term funding of up to $100 million for social entrepreneurs during the upcoming sustainability summit to be hosted by its Hyderabad Chapter.
TiE expects to facilitate funding of $20 million in social enterprises in the short term.
The non-profit body said that it is confident of funding at least 50 to 100 social enterprises during the summit, where the social entrepreneurs will be making a pitch to about 200 global investors.
"Through its technology platform TiE is confident of facilitating funding to a tune of $20 million in the short-term and about $100 million in the long term (8-10 years to promising social enterprises with the ability to create a deep impact on human society, animals and nature," Manohar Reddy, TSS Global Chair and President TiE Hyderabad said in a statement.
TiE Sustainability Summit (TSS) is scheduled to be held between October 4-6, 2021, through a virtual platform.
"At TSS, we have designed a Match Making' Technology Platform for potential social impact investors to meet their prospective investees (social enterprises) who have the capability and promise to not only provide high return on investment, but also create a deep social impact," Reddy said.
Mahavir Sharma, former global chairman of the Board, TiE Global and Co-Founder, Rajasthan Angel said social enterprises are the future unicorns of the world.
"They will be building a trillion-dollar economy. At TiE we stay committed to fulfilling the needs of social entrepreneurs who are faced with the challenges of funding, attracting talent we will be solving both these by partnering with social impact funds and large businesses to fund them to a tune of $100 million in the long term spread across a few phases based on business viability and ability," Sharma said.