India Accelerator Introduces Impact Labs

India Accelerator (IA) started a new vertical - Impact Labs in association with UNTILs (United Nations Technology Innovation Labs) dedicated to supporting startups focused on creating positive impact, promoting social inclusion, and bringing change in the economy while operating as sustainable businesses.

Delighted with the development, Munish Bhatia, Co-founder, IA and Managing Impact Labs said, “At IA, we are anchored towards the belief that exceptional startups lead to a better world and living. Impact Labs works in tandem with the approach of backing impactful solutions and thus, acts as a catalyst for startups that not only seek profits but also believe in the transformative power of impact.”

IA is recognised for its long-term vision to nurture the burgeoning Indian startup ecosystem, as per the press release. It added that with its recent initiative of starting an Impact-focused investment thesis, the accelerator aims to help innovators and social entrepreneurs turn their early-stage startups into sustainable and scalable ventures.

Impact Labs will provide extensive support and a strategic growth framework to propel the growth of startups with a primary focus on solutions catering to the next half-billion people in India who make up a majority focus of India’s socio-economic demographic segment, stated the press release. They aim to create an innovation ecosystem promoting resilience in climate action & cleantech, assistive healthcare, substitute & alternative materials, social development & welfare, agriculture, land, water & waste, microfinance and financial inclusion, and gender tech.

Elaborating on the approach of Impact Labs, Ashish Bhatia, Founder & CEO, India Accelerator said, “IA has been a versatile sparring partner for startups and with Impact Labs, we take the lead in bringing societal, environmental and economic changes. We do this by bringing in our expertise in - community building and acceleration, to help startups accelerate their impact and make their mark.”

The press release added that, in 2022, the social sector in India had witnessed substantial growth in financing with a 15 per cent annual increase in total funding from USD 135 billion in 2017 to USD 276 billion in 2022. Impact investing market in India is projected to reach USD 27.1 trillionn by 2030, indicating a significant interest and potential for impact-driven businesses.