TiE expects about $100 mn startups funding in sustainability summit

PTI | New Delhi | Updated: 25-09-2021 20:55 IST | Created: 25-09-2021 20:55 IST
TiE expects about $100 mn startups funding in sustainability summit
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Indian chapters of non-profit organisation The IndUS Entrepreneurs expect to facilitate long-term funding of up to USD 100 million for social entrepreneurs during the upcoming sustainability summit to be hosted by its Hyderabad Chapter.

TiE expects to facilitate funding of USD 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 USD 20 million in the short-term and about USD 100 million in the long term (8-10 years to promising social enterprises with 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 business to fund them to a tune of USD 100 million in the long term spread across a few phases based on business viability and ability,'' Sharma said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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