ISB raises Rs 1.7 crore funding for nationwide 'iDiya' contest

NEW DELHI: The Indian School of Business ( ISB) has raised funding for iDiya, its annual nationwide idea competition for working professionals interested in setting up socially relevant ventures by four times to Rs 1.725 crore this year, the company said in a statement.

In its fourth year, iDiya attracts professionals from diverse backgrounds, venture capitalists, and the social sector every year. Institutions such as NABARD, Upaya Social Ventures, Ckinetics, Villgro and Ennovent have committed to provide funding support to aspiring entrepreneurs under the iDiya programme.

Over the past years, the winners of the programme have been funded and mentored by the likes of Canaan Partners, Bharti Foundation, Intellecap and Unitus Capital.

The programme seeks to promote scalable and sustainable businesses in the fields of agri-business, health, education, energy, environment, women's empowerment and disability. Last year's ISB iDiya challenge winner was 'SMV Wheels', a venture based in Varanasi that helps rickshaw pullers fulfill their dreams of becoming self employed.