Upaya Announces The Launch Of The Dignified Jobs Accelerator 2024

Press ReleaseWhat's New?Dignified Jobs Accelerator

Oct 16

The program will help early-stage entrepreneurs build businesses focused on creating quality jobs for those in extreme poverty in India

Bangalore, India | October 17, 2023

Upaya Social Ventures (Upaya) announced the launch of the Dignified Jobs Accelerator 2024, in partnership with Yunus Social Business Fund Bengaluru (YSBFB). The program is designed for job-creating, impact-driven, early-stage social entrepreneurs working across the Allied Sectors of Agriculture in India to create dignified jobs for people in extreme poverty.

Through an immersive modular structure, the Dignified Jobs Accelerator 2024 will equip the cohort members with key skills required in business strategy, financial and impact management, and fundraising. The cohort will receive one-on-one consulting support from the experienced teams at Upaya and YSBFB, industry insights from experts in the field through workshops and masterclasses, and constructive feedback from investors on their business models, strategies, and pitches through virtual pitch sessions. The program will also curate a shared learning space for the cohort members to exchange ideas with their peers, support one another, and explore potential collaborations.

The Dignified Jobs Accelerator takes a comprehensive approach to building investment readiness capacity for each member of the cohort, going beyond pitch decks and investor connections to truly build a business model and narrative that is attractive to investors. The program is tailored around a theme for entrepreneurs in the same sectors running early-stage businesses to meet the unique needs of each cohort. The 2024 program will be specifically designed to support social businesses that work closely with farming, rural, or tribal communities in the allied sectors of agriculture to build a strong supply chain for products that have industrial uses.

“The Allied Sectors of Agriculture have an immense potential to drive innovation and deep impact,” said Rachna Chandrashekhar, Manager of Accelerator Investments at Upaya. “Across the various sub-sectors ranging from aquaculture and apiculture to sericulture and forestry, India not only has widely available resources but also a large population engaged in these activities. There are market opportunities open across industries such as pharma and nutraceuticals, animal supplements, technical textiles, and more. With a strong supply chain, technology, and market access for these sectors, there is scope for Small and Growing Businesses to build sustainable business models and enable dignified jobs for people in the farming and rural communities.”

In India, agriculture is the largest source of livelihoods today. The allied sectors surrounding agriculture have the potential to create even more dignified jobs and income streams for small and marginal farmers, rural communities, and women. Connecting these vulnerable communities with more livelihood opportunities can strengthen their resilience against the changing climate.

This is the third year Upaya is partnering with YSBFB to deliver its signature accelerator program. Upaya and YSBFB are united by a shared commitment to build scalable businesses that create jobs in India’s most vulnerable communities.

"YSBFB and Upaya have found a rare synergy in India's impact investment landscape, focused on redefining meaningful acceleration,” said Manasi Parvatikar of YSBFB. “The success of our previous two years' partnership, which were centered around the theme of creating dignified jobs, has paved the way for our third-year focus, as we aim to deepen our impact by addressing the critical sector of allied agriculture.”

The applications for the Dignified Jobs Accelerator 2024 are open through November 17, 2023. Eight to 12 entrepreneurs will be selected for the cohort, out of which Upaya will select up to three businesses for a $50,000 investment and YSBFB will select up to two businesses for a potential debt investment of up to $100,000. The 2024 program will run from February through July, 2024.

Visit Upaya’s website to learn more and apply for the Dignified Jobs Accelerator 2024. The applications will close on November 17, 2023.

ABOUT UPAYA SOCIAL VENTURES:

Upaya Social Ventures is a nonprofit organization building an inclusive economy by providing investment and support to early-stage businesses creating dignified jobs for people living in the most extreme poverty.

Upaya’s award-winning, impact-first model seeks out and supports oft-overlooked companies creating work that is safe, stable, inclusive, and rewarding—generating a transformative impact on families, communities, and economies.

Since its founding in 2011, Upaya’s portfolio companies have created over 30,000 dignified jobs across India. Please visit upayasv.org for more information.

ABOUT YUNUS SOCIAL BUSINESS FUND BENGALURU:

Yunus Social Business Fund Bengaluru (YSBFB) is an impact fund providing patient debt capital and growth support to social businesses. YSBFB’s mission is to harness the power of business to end poverty and the climate crisis.

Co-founded in 2017 by Suresh Krishna and Vinitha Reddy, YSBFB is the India Fund for Yunus Social Business Funds (Germany), co-founded by Peace Nobel Laureate Prof. Yunus. To date, social businesses in YSBFB portfolio have impacted the lives of 2.4 million people and provided higher incomes to 25,000.