S. D. Shibulal, better known as Shibulal, who is former CEO and co-founder of Infosys, has launched EduMentum — an incubator for early-stage startups working in the space of offline education transformation.
EduMentum is launched in partnership between his Advaith Foundation and Mantra4Change, a Bengaluru-based NGO.
The incubator platform will offer funding of Rs 7.5 lakh per annum to each selected organisation or startup along with a series of workshops for the incubatees.
Speaking on the launch of EduMentum, Shibulal said, “EduMentum is designed to promote social entrepreneurs who are working to transform the education ecosystem. EduMentum will encourage development and use of indigenous body of knowledge in the area of school education through ShikshaLokam.”
ShikshaLokam is an education leadership platform under Advaith. The Advaith Foundation was set up by Kumari Shibulal and SD Shibulal to promote philanthropic ventures in the field of education and research.
The first cohort of the programme, which has five startups, started in September last year. The startups in this program include Loop Education Foundation, Vidhya Vidhai, Samarthya, Sanjhi Sikhiya and i-Saksham.
During the end of the programme, the startups get to pitch to potential investors. The programme aims to incubate 50 organisations across different parts of the country by 2022. The next batch will start in June.
The development was first reported in Economic Times.
Notably, EduMentum is second such initiative for startups by Shibulal as earlier, In 2014 Shibula co-founded Axilor Ventures, a venture capital service for young entrepreneurs.
To recall, in December last year, Paytm too had announced the launch of startup incubator called ‘Build For India’ initiative.
Last month, Ratan Tata, in his ₹900 million plan, has also announced that Tata Trusts will be setting up number of lab-style startup incubators across India.
Additionally, in this month, Haryana state government has also announced the plan to set up an startup incubator called ‘Global Start-up Village’, which will be India’s biggest startup hub and will be located in Gurugram in next couple of years.
Prior to that, Kejriwal govt in Delhi has also announced to launch startup incubator in lines of T-Hub.