The Miller Center for Social Entrepreneurship at Santa Clara University and New Ventures India (NVI) have been awarded a $767,000 grant for an Energy Access Investment Readiness Program to fight electricity problems in India.
This private-public partnership seeks to deliver clean, innovative, off-grid power to the estimated 289 million people in India who lack energy access. The partnership was made possible through support of American donations through USAID.
NVI will facilitate a $41 million investment of impact capital over three years to support local enterprises. Close to $5 million has already been committed to this program. Miller Center’s Global Social Benefit Institute (GSBI) plans to train entrepreneurs in India so they can increase their impact.
“This grant from USAID further validates Miller Center’s GSBI methodology, which helps social enterprises worldwide apply Silicon Valley business principles to scale their impact,” Thane Kreiner, executive director of the Miller Center for Social Entrepreneurship, said. “GSBI mentors will work in India with the social entrepreneurs and continue mentoring them remotely as the entrepreneurs build partnerships, overcome business model challenges, and obtain investments. We believe social entrepreneurship is an effective agent for change to address serious global issues including energy poverty and climate change.”