Overview

Social Innovation Lab by Citi aims at discovering incredible early stage and growth stage, high-impact, for-profit startups working in social impact spaces. This program is being launched by Citi, in collaboration with Indian Institute of Technology Kanpur (IIT-K) and T-Hub, Hyderabad (T-Hub) to nurture FinTech, AgriTech and HealthTech startups. As part of Social Innovation Lab by Citi, IIT Kanpur will nurture AgriTech and HealtTech startups, while T-Hub will focus on supporting FinTech startups.

Social Innovation Lab by Citi will incubate 25 startups across AgriTech, HealthTech and FinTech. A kick-off grant will be provided to them of up to INR 10 lakh each. The startups will also receive mentoring, go-to market strategy, seed funding, as well as network and scaling opportunities. This program will help these 25 startups start on a path of sustainable growth in order to amplify their impact.

Focus Areas

AgriTech
  • Transparency in Agriculture
  • Women Entrepreneurship in Agriculture
  • Farm Mechanization, Automation & Modern Farming
  • Post-Harvest Loss Management & Value-Added Activities
  • Value Chain Pilferage & Leakages
  • Farming as a Service (FaaS)
HealthTech
  • Integrated Healthcare Software, Systems & Health-Stack
  • High Healthcare Costs & Lack of Access
  • Women Entrepreneurship & Women Centric Solutions
  • Diagnostic Devices & Kits
  • Rural Penetration & Access
  • Vaccine Deployment
FinTech
  • Financial Identity & Security
  • Ubiquitous Lending
  • Next Generation Payments
  • Financial Well-being Management through greater savings mobilization for investment and consumption
  • FinTech Operations
  • Financial Inclusion

Eligibility Criteria

  • Startups whose focus aligns with the program areas.
  • Startups incorporated and based out of India.
  • Each startup must have at least one full-time employee.
  • The product or technology provides a functionality/ capability not available in any off-the-shelf product, or a functionality/capability that can be demonstrated to possess a competitive advantage.
  • The product or technology offered by startup represents original ideas, wholly owned, with freedom to use or is licensed by the startup.
  • The team has formed, or is a part of, a recognized, legal entity as its company’s structure.

What's in it for Startups

The startups selected through this program are offered with:
  • An opportunity to work with Citi’s global network of leaders/mentors on the solution
  • An opportunity to get grant up to INR 10 Lakhs each for the cohort startups.
  • Curated Mentorship program by Citi and Industry Mentors
  • Potential Private Equity funding opportunity
  • Access to IIT Kanpur & T-Hub networks of mentors, industry experts, investors, service providers, community/ecosystem
  • Further collaboration options, if mutual interest established, can be discussed with the startup(s)

Timeline

06th Dec' 21

Launch & call for applications

24th Dec' 21

Closing of the application

20th Jan' 22

Announcement of shortlisted applicants

21st Jan' 22

Incubation
Kickoff

21st Jan' 22

Accelerator
Kickoff

Selected Startups Cohort

Meet our Mentors

Aman Singla,
Director, Sales Head

North India & India ESG lead, Treasury and Trade Solutions, Citi India

Naman Kapoor,
Director, Head

Cash Management, Treasury and Trade Solutions,
Citi India

Arnika Dixit,
Business Head

Consumer Cards, Lending & Payments Business,
Citibank India

Santosh Dujari,
Managing Director & India Sales Head

Treasury and Trade Solutions, Citi India

Nikhil Patankar,
Director, Sales Head

South India, Treasury and Trade Solutions,
Citi India

Mahima Garg,
Director, Sales Head

Financial Institutions, Treasury and Trade Solutions,
Citi India

Sameer Gupta,
Director

Innovation Capability Head, Treasury and Trade Solutions, Citi India

Mayank Gupta,
Director, Head

Trade Product, Treasury and Trade Solutions,
Citi India

Anuradha Choudhury, Director

Head of Banks & Fintech, & Inclusive Finance & Priority Sector

Geetika Vats,
Director, Sales Head

West India, Treasury and Trade Solutions, Citi India

Michael TS Lindenmayer,
Visiting Faculty

Northwestern
University

Sanjiv Verma

Market Assessment, Market Connect, Pharmaceutical & Medical Devices

Sanjay Banerjee

Lifescience (Pharmaceuticals & Medical Technology), Healthcare, Market Access & Market Development

Hemendra Mathur

Deeptech, Agritech, Foodtech, Consumer tech, SaaS & Enterprise
technology

Jagadeesh Sunkad

Digital interventions for agri-value chains, Soil-less agriculture, Aeroponics, Material science

Nikhil Mehendi

Healthcare Innovation, Artificial Intelligence, Health AI, Medtech AI, Healthtech, Managed
Care

Prabal Chakraborty

Medical Device, Strategy, Marketing, Sales, Professional Education, Regulatory

Ritesh Jain

Fintech (Payments & Banking), Financial inclusion, Business Transformation & Operations

Subramanian Chandramouli

Chief Growth Officer at Finovate Capital

Mahendra Kasula

Principal Director, Corporate Banking & Innovation Lead, SEA

Frequently Asked Questions

Expectations from Startups
  • You have some initial traction in terms of pilots/users/paying customers
  • You have a working product and a clear product roadmap
  • Your company is registered in India
Founder Attributes
  • You have prior experience in Corporates/Consulting/Entrepreneurship
  • You have a team with complementary skillsets
  • You have a clear vision for your enterprise

The following criteria shall be used for shortlisting applications:

  • The founder has a clear growth vision for the startup
  • Relevance of the idea to the focus area(s)
  • Potential social impact
  • Scalabiltiy

The incubation process would be a mix of in-person as well as virtual engagement, keeping in mind the COVID-19 situation in the country.

  • Preliminary screening
  • Internal Evaluation
  • External Evaluation/ Investment committee-selection of final shortlisted startups
  • Agreement signing and fund release
  • Impact Assessment
  • Social Innovation Lab Project Duration - 5 months
  • Social Innovation Lab Accelerator Program Duration - 8 weeks

The following documents may be required for the due diligence once the applicant is selected. A detailed list of requisite documents is communicated once an applicant reaches that stage.

  • Address Proof
  • ID Proof
  • ITR Filled
  • Patent Copy (if Available)
  • Copy of Innovator's PAN
  • Proof of work done, prototype, feedback received, business plan (if required)
  • Government recognized certificate of product/service (if required)
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Contact us

Write to us for any queries: sil@iitk.ac.in
Contact Us

Disclaimer

Any of the above-mentioned content related to program, schedule, pricing, reimbursements, and other miscellaneous items are subject to change. We reserve the right to make those changes and will intimate them to appropriate stakeholders.