The Social Entrepreneurship Vertical at NSRCEL, IIMB Catalysing Social Innovation to build a Sustainable Future Impact Insights: 2017-2024 1
The Impact Orbit Vertical NSRCEL at IIM Bangalore strives to provide a vibrant space for entrepreneurs to kickstart and accelerate their start-up journey. The Impact Orbit Vertical at NSRCEL specifically focuses on catalysing Social Entrepreneurs who are change makers involved in solving complex social problems through self -sustaining business model. Such a process needs a combination of structured incubation program, personalised mentoring, exposure to the opportunities in the startup ecosystem and gaining access to resources. Since 2017, the Impact Orbit has facilitated 131 such ventures, with the gracious support of donors and other program partners. The program has evolved and matured over years, and the results have been encouraging. This study was commissioned to independently assess the program, how it has affected growth of such social enterprises, and to inform future strategies. NSRCEL, IIM Bangalore’s flagship incubator, empowers creators and start-ups. Its Impact Orbit Program- the social entrepreneurship incubation vertical, launched in 2017, connects social entrepreneurs, academia, and industry. The program offers comprehensive support— venture development, scaling, funding readiness, and impact measurement—while promoting collaboration among startups, nonprofits, funders, and investors within the social entrepreneurship ecosystem. The report validates the need for a social-entrepreneurship focussed incubation program and brings forth evidence of how investing in capacities for early stage social enterprises are important to catalyse their journey, and the role of a facilitating ecosystem to advance this mission. We also take this opportunity to cheer for all the incubated social enterprises of the Impact Orbit, its founders, program donors, the IIMB-Ecosystem and each person and institution who has contributed to its journey so far. Nachiket Kulkarni AVP Social Entrepreneurship NSRCEL Key Milestones of the Impact Orbit Vertical The Impact Orbit fosters inclusive growth, incubating social enterprises across 20+ states in various sectors, ages, and stages. Notably, 42% of these enterprises are led by women founders. Total 131 ventures 11 cohorts Total grants 124 mn+ INR Follow-on Funds raised by Ventures 330+ mn Numbers as of August 2024 2 3
The Impact Orbit Program (formerly NSRCEL Social) has grown from incubating small nonprofit cohorts to large for-profit and nonprofit cohorts embracing blended learning methods, focussing towards innovation in circular economy, climate- smart agriculture and tech-enabled solutions for Social Impact. 4 The NSRCEL Stack for Impact Orbit The Impact Orbit stack adopts an entrepreneurcentric approach, enhancing entrepreneurial skills while providing venture-building support. Incubated enterprises also gain access to resources, networks, information, and events within the broader ecosystem. 5
NuSocia, an impact advisory firm, conducted an independent assessment of the Impact Orbit (2017-2024) to evaluate its effectiveness and impact on incubated social entrepreneurs and the ecosystem. The study, carried out between July and October 2024, used a mixed methodology with a representative sample from all cohorts, including key stakeholders. The Assessment Framework The assessment framework followed two lines of inquiry: first, examining the incubation program’s impact on entrepreneurs and their enterprises; and second, evaluating the Impact Orbit’s contribution to the broader social entrepreneurship ecosystem. Incubated Enterprises (sampling to ensure thematic and cohort representation) End-users Mentors Programme Donors Ecosystem Partners NSRCEL Impact Orbit Program team IIM-B Faculty The Impact Orbit Impact on the Ecosystem Vision • Clarity of Vision/ Mission • Role in the ecosystem • Impact metric Network • Size • Diversity – Corporate, Govt, Academia etc • Level of engagement Inputs • Width vs Depth of support • Physical space • Digital tools Sustainability • Financial continuity • Scalability • Innovation Impact on the Cohort of Incubated start-ups Design • Theory of Change • Accessibility • Inclusivity • Evolution • Relevance Inputs • Mentorship • Training • Funding • Networking • Adaptability Process • Selection / Profiling • Pitching • Timeliness • Comprehensiveness • Feedback & process Improvement Entrepreneurial Capabilities • Mindset • Confidence • Technical Acumen Impact on the Community / Society / Environment Impact on the Social Enterprise Ecosystem Investor engagement (diversity, frequency, quality), # of events (meetups, pitches, ) / community building (thought leadership), partnerships / collaborations ; resource access Impact on the Incubated Social Enterprises Social Capital / Network; Funds; Visibility / Credibility; Business Model Strengthening; Access to resources / market; Sustenance Sustainability of the Impact 6 6 7 7
Impact of the Program Impact Orbit stands out in its social enterprise incubation process by providing carefully curated support and opportunities, catalyzing the growth of early-stage social ventures. Contribution to Social Innovations 131 2.3+ million Ventures Incubated Focus Areas Geographic Reach INR 330+ million Follow-on Funds Raised by Ventures Incubation Success Rate* 20+ states with participants from tier 3 & 4 cities and remote locations of India Jobs Created Championing Gender Diversity 97% Education, Livelihoods, Circular Economy, Climate-Smart Agriculture, Plastic Circularity, Alternate Materials, TechEnabled Solutions (Sector Agnostic) 14,000+ Lives Impacted 42% women-led ventures Program Inputs 1,462 25+ 7 Training Sessions Mentors Donors Driving Global Impact 8 Team Members 8 *Companies that report to continue and grow post the incubation 113 Service partners in Startup Tool Kit 9
The Impact Orbit has equipped early-stage social entrepreneurs with knowledge, skills, visibility, and networks, helping them build credibility and chart a clear path for growth. It continues to foster an inclusive, safe space for entrepreneurs to experiment and learn. Clarity on Vision and Direction • • • Ecosystem Collaborations Over 80% of respondents reported improved clarity on their Vision, Value Proposition, and Business Model, along with a better understanding of Impact Metrics and Measurement. Funder Connects 45+ organizations (VCs, family offices, debt funds, CSR, impact funds, incubators, accelerators, banks on demo days) Webinars 15+ Webinars & Networking Events (2023-24) Access to Strategic Inputs for Business Growth • • • Ecosystem Stakeholders & Service Providers (since 2023) 30 10 Deepened understanding of the Theory of Change Gained proficiency in Tracking and Measuring Impact Strengthened ability to Pitch Products and Services effectively Enhanced Product Offerings and Value Proposition Improved Cost Analysis and Pricing Decisions Gained Sector-Specific and Domain-Specific insights Nearly all respondents reported that the mentoring inputs effectively addressed challenges specific to their enterprises. 11
• • • Boosted Confidence and Communication Skills Strengthened Leadership and Delegation abilities Developed skills in Navigating Ambiguity and building Resilience Over 70% of respondents reported improved leadership skills, aiding in risk management and strategic decision-making, while 80% saw a significant boost in confidence as social entrepreneurs. “The skills and knowledge that I gained were critical in transitioning from a development professional to a confident social entrepreneur. This newfound confidence was crucial for engaging with stakeholders and conveying the vision effectively, which in turn-built trust and attracted funding.” - (Non Profit, 2022) Exposure and Visibility • • • Secured Media Coverage across social, print, and other channels Gained Platforms to Showcase Products and Services Created opportunities to Participate in Ecosystem Events Over 70% of respondents reported significant improvements in their brand visibility and marketing outreach. “NSRCEL has a clear structure that helps start ups go beyond the pilot stage and move into larger markets. For instance, Gud Gum getting featured recognition in Shark Tank India and Sunbird straws went to international exposure platforms are few testaments to how well the incubation program prepares these ventures for the next steps.” - (Donor) Expanded Networks • • • Gained access to New and Alternate Funding Sources Connected with New Clients and Collaborators Engaged with Subject Matter Experts beyond the program Nearly all respondents felt the incubation facilitated strategic collaborations. Over 50% were satisfied with the investor connections and successfully raised funds or secured grants through the program’s assistance. Experienced Growth • • • Growth in Operations and Team Growth in Donors/ Funders Growth in Revenue Over 50% of respondents indicated that the incubation program expanded their reach and impact. Additionally, 70% reported that the program directly contributed to the growth of their venture and advancement of its mission. “The incubation program strengthened our business operations, refining strategies and boosting efficiency, transforming our idea into a successful startup.” - (For Profit, 2023) “Before the incubation, our team consisted of just three people; now, we have grown to 15. We were managing six-seven acres, but after completing the program, we expanded to 100 acres.” - (Non Profit, 2023) “We raised close to 15 lakhs in grants initially, and at the end of the incubation, raised 27 lakhs in grants. We also had the opportunity to pitch in front of at least 50 investors.” - (For Profit , 2024) 12 13
Social Enterprise Growth through Incubation B. Impact on the Social Entrepreneurship Ecosystem of India The Impact Orbit vertical has actively engaged key actors in the social entrepreneurship ecosystem, including funders, policymakers, technical institutions, subject matter experts, media, and like-minded organizations, to foster dialogue and build an enabling environment for social entrepreneurs across the country. The case study of Agro Rangers Trust demonstrates how social enterprise founders are leveraging incubation insights to strengthen and grow their organizations. Orchestrating Ecosystem Collaboration • • • • Engaged a large pool of resident and external mentors. Leveraged credibility to mobilize ecosystem actors, including policymakers. Aligned flexibly with donor needs. Proactively identified opportunities and fostered collaboration. Nearly all respondents in the study recognized NSRCEL and the Impact Orbit vertical as key contributors to the entrepreneurship ecosystem, driving innovation within their sectors. Creating and Sharing Knowledge in the Ecosystem • • • Curated events like Pitch Days to connect partners. Contributed to both virtual and physical knowledge-sharing platforms. Facilitated shared learning among collaborators. “With NSRCEL, we’ve found a good partner to discuss ecosystem challenges and opportunities. We’ve also talked about how some of our startups might join their incubation or early-stage programs, so it’s about sharing knowledge and resources” - (Program Partner) 14 15
• • • • • • Expanded outreach to social entrepreneurs nationwide. Built a larger pipeline of promising ventures. Focused on high-risk, underexplored sectors like circular economy and climate-smart agriculture. Prioritized early-stage enterprises. Bridged the for-profit and non-profit ecosystems. Achieved a higher success rate among incubated enterprises. “NSRCEL, allowed us to foster the relationship and gain access to a steady pipeline of 30-50 businesses each year. Although we wouldn’t fund all of them, even selecting one or two annually provides a promising pipeline to work with” (Donor) Building Long-lasting Partnerships • • • • Focused on establishing long-term donors and collaborators. Met donor reporting and governance requirements. Secured committed donors for sustainability programs. Enriched donors’ incubation programs through value-added support. “NSRCEL’s efficiency and technical expertise, particularly in the circular economy, combined with their proven track record, make them a highly capable partner for social incubation.” - (Donor) Visibility to Partners and Donors • • • Established a strong presence in digital and print media. Produced sectoral reports and publications. Gained access to national and international events and platforms. “NSRCEL stands out for its extensive marketing efforts, including LinkedIn, print media, and other platforms. Not many incubators have such extensive marketing resources.” - (Program Partner) 16 17
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