Five social enterprises bag Rs 45 lakh grant at SBI Youth for India pitch fest

Five social entrepreneurs received a total funding of Rs 45 lakh, with each receiving Rs 9 lakh, at 'SBI YFI Sahyog - The Pitch Fest', organised as part of the SBI Youth for India (YFI) Conclave 2024, the CSR arm of the State Bank group.

They were among the nine entrepreneurs who pitched at the fest held on Sunday.

Ashwini Laxman Shelke from Shahalakshya Charitable Trust, Nishant Kumar Singh from Jawhar Farms, Nupur Poharkar from Pirul Handicrafts, Shraddha Anand Gosavi from Quest, and Dr Steward Gracian from SocioDent Private Limited won the grant.

The pitch fest aimed to provide seed funding to non-profit and for-profit ventures led by SBI YFI alumni, facilitating their continued efforts towards social impact and community development.

“Youth is a change agent. They are full of energy, vigour and passion. The future of our nation hinges upon its young, educated, and socially conscious demographic," said Sanjay Prakash, Managing Director & CEO of SBI Foundation.

Dr Steward Gracian of SocioDent Private Limited told SocialStory, “The YFI Sahoyog funding is a breakthrough support that SocioDent needed to make our product a reality. It’s amazing how the SBI Foundation believes in the potential of their Youth for India fellows and alumni. They don’t just keep track of our journey but also invest significant resources like seed funding through Sahyog to make our efforts a success."

SocioDent provides innovative oral healthcare solutions to dependent and disadvantaged individuals.

Nupur Poharkar, Founder of PIRUL Handicrafts, a startup that makes artefacts from dried pine leaves, said, "The Sahyog grant will support us in scaling up our enterprise. This will help create a greater impact by replicating our business model in many more villages in the hills of Uttarakhand and empowering the locals with livelihood opportunities."

The jury for the pitch fest included Sanjay Prakash, MD & CEO, SBI Foundation; Jagannath Sahoo, President and COO, SBI Foundation; Gayathri Swahar, Senior Director, Social Entrepreneurship at The/Nudge Institute and Co-founder of Ycook India; Suresh Krishna Bandi, Associate Vice President - Programs & Partnerships, I-Venture@ISB, Hyderabad; and Gyan Prakash, Program Head, SBI Youth For India Fellowship.

Gyan Prakash told SocialStory, “We begin by offering grants to the participants and enhancing their visibility. Additionally, we facilitate networking opportunities and connect them to a pool of resources."

Apart from the pitch fest, the two-day conclave also had interactive sessions, including advisory forums and speed networking.

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Bridging the gap between urban youth and rural communities

The SBI Foundation runs a YFI Fellowship programme for individuals aged 21-32. Under the programme, participants work with partner NGOs across the nation to gain experience in the social development sector and learn about rural community challenges.

After the 13-month fellowship, many participants begin their own ventures. The foundation holds a pitch fest for them to raise the requisite funds.

“The projects spearheaded by our fellows have not only accelerated rural development but have also fostered inclusive and sustainable growth across 20 states in the remotest corners of our country,” said Sanjay Prakash.

Gyan Prakash remarked that NGOs have the potential to accomplish a lot, but they lack the resources and time to invest in new ideas.

“On the other hand, many young people from different segments want to join the social development sector, but it is challenging to enter due to requirements like full-time work experience or specific qualifications,” he said.

He added that urban youth are often disconnected from the realities of rural life. This creates a gap between urban and rural communities.

The fellowship programme was initiated to bridge this gap. Urban youth are allowed to live in villages for 13 months to immerse themselves in the rural lifestyle and understand the challenges faced by rural communities. They work across 12 areas, including health, food security, water, technology, and women's empowerment.

“The programme has a capacity for 100 fellows. Candidates are assessed based on their passion and commitment, with other factors being primarily quantitative. Core values such as respect for all, service to the community, creativity, and fairness are also essential criteria,” said Gyan Prakash.

The foundation claims to have impacted the lives of over 1.5 lakh people in over 250 villages across the country.

"The fellowship involved a lot of unlearning and relearning, which changed my perspective towards social impact entirely. It has helped me in moving forward in the social development sector. Without that training, I wouldn't be able to do what I am doing now," said Kavya Menon, Founder of Eco Feminist Research Foundation, who was part of the programme in 2014-15.