ACT targets INR 500 Cr fundraise to tackle societal problems beyond COVID-19

New Delhi: ACT, the first-of-its-kind movement by founders, leaders, and VCs from India’s startup ecosystem, announced its plans to raise an INR 500 crore philanthropic fund to back solutions addressing societal problems at scale across four key areas – Education, Healthcare, Environment and Women’s participation in the workforce.

ACT was launched in March 2020 with an INR 100 crore grant with three core objectives: 1) to award grants to tech-driven companies that can scale against COVID-19 2) to connect companies with relevant products and solutions to local, state & national governments, and NGOs fighting the pandemic 3) to help grantees scale by bringing together networks, startups and additional grants as a force multiplier. With this approach and the collective support of the startup community, ACT in phase one was able to fund 54 startups & 100+ projects, impacting 49 million lives across 27 states.

Leveraging startup India’s power of collaboration, a bias for action, and entrepreneurial energy, ACT in 2021 will continue to be a movement for social change. In phase two, funds will be deployed across four key areas, with the following focus and goals: