Abhiraj P|Aug 1, 2022
IIM Udaipur launches India's first student-driven impact investment fund
IIM Udaipur student-driven fund to support startups that focus on UN sustainable development goals
NEW DELHI: The Indian Institute of Management (IIM) Udaipur has launched an impact investment fund (IIF), which will be managed by students, to invest in ventures which focuses on making an environmental and social impact. IIM Udaipur claims that this is India’s first such student-driven impact investment fund.
According to a statement from IIM Udaipur, the IIF will support those ventures that focus on five of the United Nations (UN) sustainable development goals (SDG), such as zero hunger, good health and well being, quality education, clean water and sanitation and affordable and clean energy. The institute has also planned for collaboration with Ivy League colleges which has similar funds.
“Investees will get access to the IIMU ecosystem of mentors, professors, and functional clubs for consultation and use the talent pool for internships and live projects,” said the statement.
IIM Udaipur estimates the impact investment fund size for five years to be about Rs 7 crores. The institute has said that it has so far received investments amounting up to Rs 45 lakh from the Transworld Group and Yogesh Andlay.
"It is a matter of great pride and satisfaction to see this student-driven initiative take seed in India through the commitment and passion of our young students to societal good. It will help make a positive social impact through the venture investment and mentorship support it provides. Importantly, it will also give the students an opportunity to put their classroom learnings to a practical, socially relevant application, as they identify, mentor and grow the ventures to also deliver reasonable returns to fund investors,” said Janat Shah, director of IIM Udaipur.
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