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Building a business case for innovation and investment in India’s accessibility sector
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Creating long-term positive impact
Our business is built around backing entrepreneurs and companies that use technology to help improve everyday life for people around the world. As members of the communities in which we operate, we consider it our responsibility to invest in solutions for social challenges. Our social impact program expands the radius of our impact beyond our commercial reach to underserved communities that can benefit from our technology and expertise.
In 2020, we launched Prosus SICA (Social Impact Challenge for Accessibility) in partnership with Invest India, an agency of the Government of India, Social Alpha, an initiative supported by Tata Trusts and World Health Organization. The initiative aims to create long-term positive societal impact by supporting investment in assistive technologies.
Prosus SICA identifies and awards the most innovative Indian startups working on assistive technology solutions. Prosus has committed $250,000 over three years to this challenge. Each year, top three startups in the programme will be awarded grants and receive mentorship to help them achieve success in India and beyond.
By bringing Digital India to Accessible India, SICA attempts to bridge two flagship initiatives of the Indian government.
Focusing on the critical area of accessibility
At group level, our approach to social investment largely mirrors the way we invest in businesses across our core segments. Just as we look to identify, back and build businesses that deliver real long-term value, so we aim to invest in society for real sustainable impact.
We wanted to make a positive impact in India in an area of social need and tech innovation that had not received much investor attention. Presently, over 70 million Indians are living with disabilities. Assistive technology solutions can go a long way to help persons with disabilities lead independent lives and participate more fully in the economy and society. As such, accessibility was a natural and exciting area for us to put at the heart of our initiative. We decided to back promising entrepreneurs and help them succeed in their quest to make a lasting impact in the area of accessibility.
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