Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing and development of Micro, Small and Medium Enterprises (MSMEs) has launched the second window of Swavalamban Challenge Fund (SCF). It aims to provide financial support to non-profit organizations/educational institutions/social startups for addressing developmental gaps.
The focus is on innovative projects addressing the green/clean/efficient climate change. Other themes are sustainable livelihood, financial inclusion, and access to financial services and promoting the culture of entrepreneurship.
The proposals can be submitted for undertaking Pilot (Upper Cap of Rs. 20 lakh) and Scale-Up (up to Rs. 35 lakh) initiatives.
Speaking about the launch of the second window of Swavalamban Challenge Fund (SCF), Sivasubramanian Ramann, IA&AS, Chairman and Managing Director of SIDBI said, “This initiative is a part of Swavalamban Resource Facility being implemented by us in partnership with Foreign, Commonwealth and Development Office (FCDO UK). The themes for second window align with the vision of Prime Minister Shri Narendra Modi ji and the commitments India made at 26th UN Climate Change Conference of the Parties (COP 26) of attaining net zero emissions by 2070. The themes for this edition have been curated with a focus on green initiatives including climate change mitigation and adaptation measures, eco-friendly/waste reduction practices through recycle/reuse/redesign and offering solutions to reduce carbon footprint in the country. Other responsive themes curated under SCF basket include financial inclusion, promoting healthy living and innovative enterprise solutions.”
SCF is a competitive mechanism to crowd-source innovative and outcome driven solutions to development challenges. SIDBI has launched the platform to support those non-profit organizations/educational institutions/social start-ups who believe in their capability to innovate and promise to impact the lives.
