Next Cohort Of Upaya’s Dignified Jobs Accelerator Focuses On Waste And Circularity
Supported by the Aspen Network of Development Entrepreneurs (ANDE) at the Aspen Institute and IKEA Foundation, and in collaboration with Global Business Inroads and rePurpose Global, this ninth edition of the Dignified Jobs Accelerator calls for applications from businesses creating dignified jobs in India’s plastics, and textile & fashion waste management sector.
Bangalore, India | October 7, 2024
Upaya Social Ventures (Upaya) is excited to announce the launch of the Circular Innovation Cohort under the Dignified Jobs Accelerator to support for-profit, post-revenue businesses in India’s plastics, and textiles & fashion waste management sectors. Qualified early-stage businesses will go through a nine-month long customized program designed to scale their businesses both domestically and internationally and create sustainable impact by enabling dignified jobs for people living in extreme poverty.
In its ninth edition, Upaya is proud to partner with Global Business Inroads (GBI) and rePurpose Global to build an investability-focused program bringing market access and technical expertise under one roof. The trio is seeking entrepreneurs in three core areas: improving waste collection and sorting with innovative technology and community-based solutions; turning waste into new products, raw materials, or energy; and developing sustainable alternatives to single-use plastics and/or creating biodegradable textiles. This program is designed to support businesses that work closely with sanitation workers or rural communities, the first-mile in the waste management value chain.
“Investing in Small and Growing Businesses (SGBs) that prioritize circular economy principles is not just about driving innovation, it's about building a sustainable future. These ventures create business models that turn environmental challenges into economic and social opportunities,” said Shruti Goel, co-CEO of Upaya Social Ventures.
“We are excited to support our next Dignified Jobs Accelerator cohort of SGBs that are tackling plastic, and textile & fashion waste along with our partners, Global Business Inroads and rePurpose Global,” said A B Chakravarthy (Chakra), co-CEO of Upaya.
The Circular Innovation Cohort is designed at two specific levels. At Level 1, participants will engage in a virtual learning model with access to expert sessions and masterclasses on business strategy, global market readiness, investment readiness, and impact measurement, along with visibility and market access opportunities through Global Business Inroads' (GBI) Global Technology Interface® (GTI®) platform.
“It’s very exciting that this program will present the opportunity for GBI to collaborate and support 60 SGBs to go global and develop global market access and linkages. SGBs rarely have the funds or the strategic knowledge, expertise, and networks to build international partnerships, participate in knowledge exchange forums, and develop business opportunities or enable their business with advanced technologies. Our experience and expertise in international markets coupled with our global platforms and networks across 40+ countries will complement Upaya and rPG’s strengths to enable the SGBs to become more investable,” mentioned Leena Pishe Thomas, Director & Principal Consultant of Global Business Inroads (GBI).
Level 2 will be a six-month tailored program for 10 selected businesses, focusing on intensive capacity building, global market access, impact assessment, and potential investments from the partners. This accelerator will help build a thriving green entrepreneurial ecosystem that not only addresses India’s pressing waste management issues but also creates thousands of dignified jobs in the process. By connecting entrepreneurs to global networks, technical validation, and market access, the program will position Indian waste and circularity enterprises for long-term success and sustainability.
Kamal Raj, Senior Director of Impact Projects at rePurpose Global remarked, "At rePurpose Global, our strength lies in building collaborations that create sustainable solutions for plastic waste. Our Outcome-Based Circularity Implementation Mechanism (OBCIM) will play a pivotal role in the upcoming accelerator program. By working with local waste entrepreneurs across 30+ regions, we recover unprofitable plastic, uplift marginalized communities, and empower Small and Growing Businesses (SGBs) with the skills and investment readiness they need. Together, we are forging a strong support ecosystem that drives innovation in the circular economy, reduces plastic pollution, and creates lasting social and environmental impact. We’re excited about this collaboration and look forward to driving impact."
The Circular Innovation Cohort is being supported by the Aspen Network of Development Entrepreneurs (ANDE) at the Aspen Institute as part of an initiative with IKEA Foundation to boost capital flow to businesses operating in the waste and circular economy sectors in India and Kenya. Through the Waste & Circularity Investment Innovation Fund, ANDE aims to address key challenges in this sector by fostering a new generation of businesses that offer environmentally conscious solutions for waste management while creating stable livelihoods for underserved communities.
“The innovation fund in India is dedicated to fostering a pipeline of investment-ready enterprises within India's waste management and circular economy sectors. We sought innovative, collaborative solutions that could attract private investment for these enterprises. The two winning consortia most effectively met these criteria. We are confident that Upaya, a longstanding ANDE member with a deep understanding of our theory of change, will drive funding to this under-invested sector. Their progress will serve as a beacon, encouraging increased capital flow to such enterprises,” said Sucharita Kamath, Asia Regional Director of ANDE.
The waste management sector is projected to reach $35.87 billion by 2028. However, mismanaged waste, inadequate resources, and lack of scalable solutions pose significant challenges. The sector's reliance on the informal economy adds to these issues, with workers facing severe health and economic risks. Waste and circularity businesses have the potential to transform the sector through innovation and social inclusion.
The applications for the cohort are now open for entrepreneurs that are innovating within the waste and circular economy space, with a focus on creating dignified jobs and driving environmental impact. Entrepreneurs who can commit to the nine-month program are encouraged to apply.
More information about the accelerator and the application process is available on Upaya’s website. The applications close on November 15, 2024.
ABOUT UPAYA SOCIAL VENTURES:
Upaya Social Ventures is a nonprofit organization building an inclusive economy by providing investment and support to early-stage businesses creating dignified jobs for people living in the most extreme poverty.
Upaya’s award-winning, impact-first model seeks out and supports oft-overlooked companies creating work that is safe, stable, inclusive, and rewarding—generating a transformative impact on families, communities, and economies.
Since its founding in 2011, Upaya’s portfolio companies have created over 42,000 dignified jobs across India. Please visit upayasv.org for more information.
MEDIA CONTACT:
Madlin D’silva
mdsilva@upayasv.org