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The Indian Social Enterprise Landscape Innovation for an Inclusive Future

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The Indian Social Enterprise Landscape Innovation for an Inclusive Future The Indian Social Enterprise Landscape Innovation for an Inclusive Future 1 The Indian Social Enterprise Landscape Innovation for an Inclusive Future Usha Ganesh, Vineeth Menon, Anuja Kaushal, Karan Kumar Usha Ganesh is an Advisor – Research and Consulting at Intellecap with an interest in social entrepreneurship and impact investing. Vineeth Menon is an Associate Vice President at Intellecap with an interest in developing ecosystems for businesses to be sustainable at the last mile. Anuja Kaushal is a Senior Associate at Intellecap who focuses on assessing social enterprise business models. Karan Kumar is an Associate with Intellecap with a keen interest in leveraging design thinking to develop social enterprises. 3 Table of Contents Foreword ......................................................................................................................................................5 Executive Summary..................................................................................................................................6 Chapter 1: Introduction ........................................................................................................................11 Chapter 2: Sector Landscape – Agriculture ....................................................................................16 Chapter 3: Sector Landscape – Clean Energy ................................................................................24 Chapter 4: Sector Landscape – Education ......................................................................................31 Chapter 5: Sector Landscape – Financial Inclusion ..................................................................... 38 Chapter 6: Sector Landscape – Healthcare ................................................................................... 46 Chapter 7: Sector Landscape – Sanitation ..................................................................................... 54 Chapter 8: Sector Landscape – Water ..............................................................................................62 Chapter 9: Analyzing The Social Enterprise Investment Scenario in India ...........................67 Chapter 10: Understanding The Social Enterprise Support Ecosystem in India .................74 Chapter 11: Way Forward ................................................................................................................... 83 List of abbreviations ...............................................................................................................................87 List of tables and figures ...................................................................................................................... 90 Endnotes and References .................................................................................................................... 92 Annexes ..................................................................................................................................................100 4 The Indian Social Enterprise Landscape Foreword Over the last three years, the Bertelsmann Stiftung has been pioneering several studies in the field of innovation in Asia, covering India and China. We have chosen to focus on this topic for Asia as we are convinced that there is no single epicenter of innovation, but a network of global hubs. This shift away from the West has consequences for Germany and the rest of the industrialized world. With its reliance on high-technology products and services, Germany is especially dependent on maintaining its edge. In an increasingly interconnected world, this is possible only through mutually beneficial partnerships with emerging champions. We aim to contribute through our Learn, Connect, Transfer model, which allows us to help achieve informed decision making in Germany through our studies, while networking decision makers through our various platforms and supporting the transfer of knowledge through a rigorous exchange of ideas and best practices. Another reason for our focus is the enormous strides which emerging Asian countries have made in their socioeconomic development by embracing technology-driven economic growth, starting with the Asian tigers, then spreading to China and India, now? We are convinced that the spreading of economic prosperity from the West to the rest of the world will go a long way in solving many global challenges like mass migration and political instability. The transformation process which emerging countries go through to achieve this prosperity is a difficult one. We at the Bertelsmann Stiftung aim to support them through our studies, which address current developments in Asia such as digitalisation, social cohesion etc. This study on the social entrepreneurship landscape in India is particularly befitting to this objective as India is soon going to become the most populous country in the world. India’s socioeconomic development in the last decades has been impressive, but it still faces challenges in the fields of education, healthcare and equitable economic growth, among others. Only by enabling its young people to reach their full potential can India continue to build an inclusive and prosperous society. The study is aimed to help policymakers, impact investors and social entrepreneurs in India and abroad understand the Indian ecosystem better and plan targeted interventions such as innovative partnerships between corporations, impact investors and the government or public funded labs that allow social entrepreneurs to prototype their products before launching them. We are grateful to Intellecap for sharing their profound sectoral knowledge and for tapping into their network to provide insightful case studies. Stephan Vopel Director, Germany and Asia Bertelsmann Stiftung Foreword 5 Executive Summary Close to 70% of India’s population lives in rural areas The report leverages a database of approximately 600 with limited to no access to basic sanitation, health social enterprises1 in India, spread across the sectors services, and electricity. The lack of access to these of agriculture, health, clean energy, financial inclusion, basic services has created multiple challenges to education, water, and sanitation to assess sector- development, such as widespread poverty, specific social enterprise activity in India. This unemployment, and increasing indebtedness of database was collated through online research and households. A number of social enterprises have from the Intellecap-Aavishkaar group’s wide network emerged since the early 2000s in response to the in the sector. access and affordability challenges that low-income and underserved populations face, and the movement has gained traction in the last few years. Over the past The social enterprise ecosystem in India decade, sustainable and scalable social enterprises Corporate Engagement have received increased investor interest, with the quantum of investments also increasing every year. Family & Angel Impact Venture IPOs Friends Network Investors Capital/ Intellecap’s report on impact investing in India found & Debt Private Providers Equity Diaspora that social enterprises had raised US$ 1.6 billion (€ 1.4 billion) in equity capital from 2004 to 2011. Other reports indicate social enterprises in India have Pilot Pilot Startup Growth Mature attracted US$ 5.2 billion (€ 4.6 billion) since 2010 in impact investments, with the average deal size for Platform Incubators Post Accelerators Technical social impact investments growing from US$ 7.6 Academic Instutions & Investment Advisory Business Support million (€ 6.7 million) to US$ 17.6 million (€ 15.4 Plan Awards million) between 2010 and 2016. This research is aimed at studying the social Financial enterprise landscape and its key stakeholders in India. Support By reviewing and building upon existing literature, this Non- Financial report focuses on business model innovations, key Support trends and opportunities, social enterprises’ alignment Government Support with the sustainable development goals (SDGs), and Source: Intellecap Analysis challenges that they face in scaling their businesses. India’s social enterprise ecosystem comprises financial and non-financial support providers in addition to entrepreneurs. Additional stakeholders In the absence of a standard definition for social include the government, which monitors and regulates enterprises, different studies have adopted different the impact sectors closely; academic institutions that definitions when estimating the number of social support with research, typology, and frameworks, as enterprises existing in India. Given the group’s deep well as incubation, to promote entrepreneurship; large roots in the sector across its finance, advisory, and corporate entities that engage with social enterprises knowledge service verticals, the database of almost and other stakeholders to leverage market 600 enterprises analyzed for this study is a true development opportunities and to meet their representation of the landscape of for-profit social corporate social responsibility goals; and a range of enterprises in line with the definition adopted. domestic and diaspora high-net-worth individuals and Intellecap collected the relevant secondary data for family foundations seeking to give back to society and these almost 600 enterprises, and validated the to invest in India’s inclusive growth agenda. This secondary findings through primary data collated by report assesses the landscape from the viewpoint of means
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