StartUp India: Prosus launches ‘Social Impact Challenge for Accessibility’ with Invest India and Social Alpha

Prosus, in collaboration with Invest India, Startup India, and Social Alpha, is launching the Prosus Social Impact Challenge for Accessibility. It is a social impact investing challenge where startups with the most innovative solutions in the assistive technology space will compete for an annual grant.

Prosus, the global consumer internet group Naspers, announced the launch of the Prosus Social Impact Challenge for Accessibility (Prosus SICA) on August 26, 2020.

About the initiative

The official website of Startup India states, WHO estimates that more than one billion people around the world live with some form of disability. With the rapid aging of the global population and the increasing prevalence of non-communicable diseases, this number will increase. And by 2030, at least two billion people around the world will need some form of assistive technology (AT).

In spite of the dire need, India lacks a vibrant market for disruptive assistive technology solutions. It should uplift persons with disabilities. The AT industry’s value chain is broken. Further, its distribution, sales, and service mechanisms are scarcely established. In many cases, it is non-existent. Additionally, the disabled population is dispersed across the country. They have less access to assistive technologies due to a lack of formalized market channels, or due to unaffordable products.

To overcome these barriers, and to promote investment in the area of assistive technologies; Prosus, a product of Naspers, along with Startup India has launched this program.

Program Details

1. Any individual or group of individuals representing a startup can apply. The startup should have an innovative idea that addresses the challenges faced by persons with disabilities.

2. The participating startup should be an independent entity. Moreover, it should not be a subsidiary of an existing corporation or have legal ties to any government body.

3. It should have a prototype and must complete user testing.

Assistive technologies can go a long way in empowering persons with disabilities and enabling them to contribute to society. A good example is a humble eyeglass. Today, six in ten people use spectacles or contact lenses to counteract poor vision.

The challenge is open to Indian startups that are less than ten years old. They should either be recognised by the Department for Promotion of Industry and Internal Trade or the Ministry of Commerce and Industry.

Problem Statements

The Startup India website states the 5 problem statements for the program. The startups must make AT products for Visual impairment; Developmental Disability & Chronic Neurological Conditions; Locomotor disability; Speech & hearing impairment. Also, it can include any disability, not from the above statements.

Program Rewards

Prosus is committing Rs 1,65,00,000 over three years to Prosus SICA. Three Startups will get grants each year. Further, they will get a grant of (a) 25 Lakhs (b) 18 Lakhs (c) 12 Lakhs

Timeline

Startup India will host the program on its website. Further, you can apply here and know more about the initiative. The last date to apply is October 12.