LIC HFL – IRMA Social Trailblazer Program

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LIC HFL – IRMA Social Trailblazer Program

LIC HFL – IRMA Social Trailblazer Program is catalyzing India’s change and innovation ecosystem while solving a social issue through sustainable business models on the themes of Livability and Livelihood. This initiative will support innovative startups with scalable social business models and dignified job-creating models by providing them with financial capacity building and go-to-market support.

IRMA’s Incubator ISEED

IRMA’s Incubator for Social Enterprises and Entrepreneurs for Development (ISEED) supports and nurtures early-stage rural, social, and collective enterprises.

LIC HFL - IRMA Social Trailblazer Program
LIC HFL – IRMA Social Trailblazer Program

ISEED seeks to co-create a social entrepreneurial ecosystem through its social enterprise and ecosystem partners. It does this by providing mentoring and networking, collaborative research, entrepreneurship training, capacity building, and supporting innovations.

Eligible Startup

As mentioned above innovative startups with scalable social business models and dignified job-creating models can apply for the LIC HFL – IRMA Social Trailblazer Program.

  • Ideation Stage Startup
  • Validation Stage Startup
  • Early Traction Startup
  • Scaling Stage Startup

Eligibility Criteria for Social Trailblazer Program

The eligibility criteria for startups to participate in the LIC HFL – IRMA Social Trailblazer Program are as follows:

A start-up having an intention to solve India’s social challenges, working on the themes of livability and livelihood can apply for Social Trailblazer Program:

  • The startup should be demonstrating the existence of a legal structure: the challenge is open to startups registered in India.
  • The startup should address one of the two themes mentioned above.
  • The startup demonstrating the existence of a sustainable and autonomous economic model with a Minimum Viable Product or service ready stage and onwards are eligible for the program
  • Social impact & Innovation are the heart of the solution.
  • For-profit startups with more than 3 months of operations can also apply.

Themes of the Program

The ambition of the Social Trailblazer Program is to support distinguish players operating in the following key fields of intervention:

Livability

Social innovation for improved waste collection and management in low-income settlements and better working conditions for waste-pickers covers the following aspects,

  • Healthcare
  • Waste management
  • Clean Energy and Sustainable Mobility

Livelihood

Innovative solutions to tackle landfills and dumpsites which include,

  • Art & Craft
  • Agribusiness
  • Education & Skill Development

Note: The Application of the startup is not limited to the sub-themes mentioned above; the startup creates a social impact and can also apply for the program.

Focus Area

LIC HFL – IRMA Social Trailblazer Program is looking to collaborate and work with startups on any of the following themes:

  • Agriculture
  • Green Technology
  • Finance Technology
  • Education
  • Renewable Energy
  • Healthcare & Life sciences
  • Human Resources
  • Marketing
  • Social Impact
  • Waste Management
  • Others

Relevant Service Type

  • Social Enterprise

Benefits offered to Startups

The benefits of the LIC HFL – IRMA Social Trailblazer Program are listed as follows:

Key Incentives

  • A financial award of up Upto INR 15, 00,000 in the form of Equity Funding and INR 7, 50,000 in the form of Grant Funding will be offered to the top 10 selected startups.
  • This program also offers 1-year of personalized incubation and acceleration support at the IRMA ISEED Foundation.

Top-up Incentives

  • Upto INR 50,00,000 follow-on investment from Villgro to eligible startups.
  • Upto 100,000 USD worth of AWS credits and technology support to top 10 incubatee.

TimeLine of LIC HFL – IRMA Social Trailblazer Program

Application Opens 8th July 2022
Deadline to Apply 25th July 2022
Application Result Date 26th July 2022

Application Procedure

The LIC HFL – IRMA Social Trailblazer Program will be open upto 25th July 2022. The applicant is required to access the official webpage of Startup India.

  • From the home page click on the Programs option and select View all active programs.
  • By clicking on the Challenges from the new page, the list of active Challenges will be displayed. Click on the LIC HFL – IRMA Social Trailblazer Program, the link will redirect to a new page.
  • Click on the apply now option; the Startup India login page will be displayed. The existing users of Startup India can log in to the portal to apply for the program.
  • New users need to register on the portal to get the user credential. By clicking on the register now option, the applicant can provide all mandatory details for registration.
  • After login into the portal, the startup can apply for the challenge.

Selection Process

  • After the preliminary screening, shortlisted startups are invited to present their idea and business plan to a selection committee.
  • The team is composed of diverse and complementary expertise with technical, commercial, and administrative profiles. Bonus for women-led teams or teams with a significant number of women.
  • Based on their presentation and the recommendations of the selection committee, selected startups are invited to Incubation Program
  • The funds should contribute positively and concretely to the development of the entrepreneurial project

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Renu is experience content writer specialised in compliances and company rules.