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5 social enterprises bag INR 4.5 million funding at SBI Youth for India Conclave 2024

Bangalore – SBI Foundation, the CSR arm of the State Bank group recently hosted the two-day SBI Youth for India Conclave in Bangalore, offering a dynamic platform to social entrepreneurs and trailblazers from the social sector. The event, held in Bangalore witnessed the convergence of social entrepreneurs, academia, civil society representatives, and alumni of the SBI Youth for India (YFI) Program.

At the YFI Conclave, ‘SBI YFI Sahyog – The Pitch Fest’ saw 9 social enterprises compete for funding, where 5 winners were granted seed funding of INR 4.5 million. The initiative aims to provide seed funding to promising non- profit and for-profit ventures led by SBI YFI alumni, facilitating their continued efforts towards social impact and community development. The selection process for the winning ventures involved a rigorous assessment and evaluation conducted by an esteemed jury comprising Mr. Sanjay Prakash (MD & CEO, SBI Foundation), Mr. Jagannath Sahoo (President & COO, SBI Foundation), Dr. Gayathri Swahar, Senior Director, Social Entrepreneurship at The/Nudge Institute and Co-founder of Ycook India, Mr. Suresh Krishna Bandi, Associate Vice President- Programs & Partnerships, I-Ventures@ ISB, Hyderabad, and Mr. Gyan Prakash Program Head, SBI Youth For India Fellowship.

Addressing the distinguished gathering at the Youth for India Conclave 2024, Mr. Sanjay Prakash, Managing Director & CEO of SBI Foundation, emphasized the pivotal role of the youth in driving transformative change within the country. He said, “The future of our nation hinges upon its young, educated, and socially conscious demographic. Through initiatives like the Youth for India Fellowship, we have witnessed firsthand how our young Fellows have harnessed their potential to initiate tangible social impact projects in rural communities. Having impacted 1,50,000+ lives in 250+ villages across the length and breadth of the country, we take pride in nurturing social entrepreneurship and contributing to India’s national priorities around rural development.” Mr. Prakash further highlighted, “The projects spearheaded by our Fellows have not only accelerated rural development but have also fostered inclusive and sustainable growth across 20 states in the remotest corners of our country.”

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