CREATING SOCIAL IMPACT FOR INDIA’S UNDERSERVED SEGMENT
India’s poor and vulnerable social strata—the aspirational class that includes cooks, drivers, waste pickers, and domestic help— represent a key opportunity area for social entrepreneurs to make a real difference in the innovation ecosystem. According to a recent study, 34 percent of these strata are aged between 10 and 25 years and aspires for a better life. It’s about time social changemakers start tapping into India’s aspirational class, who are tomorrow’s neo middle class. Understanding this under-served stratum is key to unlocking the potential of the Indian economy.
Thankfully, there is a new breed of impact investors that cater to the aspirations of the lower-middle-class and focuses on pockets of opportunities that would enable the latter access to a better quality of life and improved livelihoods. Take for instance the Aavishkaar Group, a key player in India’s impact ecosystem. The organization has been working for two decades to nurture social entrepreneurs committed to building an inclusive and sustainable future for the country’s marginalized communities. Aavishkaar’s impact-focused entrepreneurship model funds social enterprises in the rural, low-income markets in sectors such as sanitation, healthcare, education, water, and livelihoods support.
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This story is from the October 2021 edition of Entrepreneur magazine.
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This story is from the October 2021 edition of Entrepreneur magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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