Can Startups Save the World? India Accelerator's Impact Labs Says Yes

Wondering what these new labs are all about? TICE brings to you all the important details about India India Accelerator's new Impact Labs. 

In a world grappling with climate change, inequality, and a host of other complex issues, Impact Labs is betting on the power of entrepreneurship to create a better future. By supporting startups that are committed to both financial success and positive impact, Impact Labs is fostering a new generation of businesses that are not just changing the game, but also changing the world.

In a significant step towards fostering a more sustainable and inclusive future, India Accelerator (IA) has unveiled Impact Labs, a new vertical dedicated to supporting startups that aim to make a positive impact on society and the environment. The initiative is a collaboration with UNTILs (United Nations Technology Innovation Labs), showcasing a commitment to aligning innovation with the United Nations Sustainable Development Goals (SDGs).

India Accelerator Impact Labs

IA, known for its support of the Indian startup ecosystem, has established Impact Labs with a clear vision: to nurture early-stage startups into sustainable and scalable ventures that address pressing challenges faced by the Next Half Billion people in India. This segment of the population represents a significant portion of the country's socio-economic landscape, and Impact Labs aims to create solutions that improve their lives and opportunities.

Impact Labs is poised to create a vibrant innovation ecosystem, focusing on crucial areas like Climate Action & CleanTech, Assistive Healthcare, Substitute & Alternative Materials, Social Development & Welfare, Agriculture, Land, Water & Waste, Sustainable Ecommerce, Microfinance and Financial Inclusion, and DEI & Gender Tech.

Impact Labs: A Winning Combination of Innovation and Profit

Munish Bhatia, Co-founder of IA and the driving force behind Impact Labs, emphasized the accelerator's belief in the power of startups to create a better world.

"Impact Labs acts as a catalyst for startups that not only seek profits but also believe in the transformative power of impact," he stated.

Ashish Bhatia, Founder & CEO of India Accelerator, echoed this sentiment, highlighting IA's role in fostering societal, environmental and economic change through Impact Labs.

"We bring in our expertise in community building and acceleration, to help startups accelerate their impact and make their mark," he explained.

A Growing Market for Impact Investments

The launch of Impact Labs comes at a time of significant growth in impact investing in India. The social sector witnessed a 15% annual increase in funding between 2017 and 2022, and the impact investing market is projected to reach a staggering $27.1 trillion by 2030. Impact investments have also demonstrated competitive financial returns, with an average IRR of 10% since 2010.

Impact Labs has hit the ground running, already closing over 20 funding deals and investing $2.5 million in impact-first startups such as Optimizers, Giverly, LivNSense, Dharaksha, and Credit Siddhi. With ambitious plans to inject an additional $5 million through private capital and mobilize $5 million through CSR and government partnerships, Impact Labs is set to further fuel innovation in healthcare, climate, and assistive inclusion technology.

A Bright Future for Impact-Driven Startups

With its focus on empowering startups that prioritize both profit and positive impact, Impact Labs is playing a crucial role in solidifying India's position as a leader in the global impact investing landscape. By providing startups with the support and resources they need to thrive, Impact Labs is paving the way for a more sustainable and equitable future for all.

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