TiE announces TSS Social Enterprise Awards; to roll out $300 Mn Social Impact Fund

Hyderabad, Oct 2 (UNI) TiE (The Indus Entrepreneurs) Hyderabad Chapter on Saturday announced TSS (TiE Sustainability Summit) Social Enterprise Awards to recognize the thankless work by social enterprises and entrepreneurs who work towards betterment of society, build innovative technology solutions, tread on uncharted path to solve the societal problems such as healthcare, water, livelihoods, poverty, education, agriculture.

The awards will be presented to the global winners during the TiE Sustainability Summit being held between Oct 4 and 6 through a virtual platform and attended by 25,000 Social Enterprises from over 50 countries.

TiE, Hyderabad in collaboration with social impact funds, country partners, development funds, and the government intends to launch a $200 million to $300 million social impact fund.

As a part of this initiative, TiE has conceptualized the maiden TSS Social Enterprise Awards, and is in the process of shortlisting the first set of social enterprises to be awarded.

The social impact fund will be used to help the most suitable social enterprises scale their business, enhance their products, attract skilled talent, and access new markets.

The funds will be allocated based on the merit of the social enterprise business model and ability to bring the desired social change.

The awards, hosted by TiE, Hyderabad are brought forth by TiE Global, a nonprofit organization devoted to entrepreneurs in all industries. There are currently 15,000 members in 61 chapters across 14 countries.

In a release, Praveen Tailam, Chairman of the TiE Global Board of Trustees said, Social enterprises have emerged as the agents of change, and are addressing the most critical issues faced by the world – whether it is climate change or social issues, they have been solving them tirelessly through innovative technologies and processes.

The TSS Social Enterprise Awards are aimed at recognizing their contribution to the planet but also support them through our mentoring ecosystem, helping them gain access to impact investors, mentors, and global markets, Praveen said.

The award winners will qualify to access the TiE Global network of social impact investors, mentors, advisors, strategic guidance to accelerate their growth, global market expansion, connections with industry, academia, thought leaders and policy makers, the Chairman added.

Manohar Reddy, TSS Global Chair and President TiE Hyderabad said,the TSS Social Enterprise Awards winners will be the future leaders of the country in the social impact space.