Mphasis today announced its partnership with The International Institute of Information Technology (IIIT-B), a Deemed University, to support and nurture deserving social enterprises. The two organizations have signed a Memorandum of Understanding (MoU) wherein IIIT-B would leverage a portion of Mphasis’ Corporate Social Responsibility (CSR) funds for supporting social enterprises.
IIIT – B will invest and nurture social enterprises that are in line with Mphasis’ CSR focus areas such as Education, Employability and Entrepreneurship. In addition to funding, IIIT-B will also provide focused mentoring services, logistics support and business network support for the incubatees. IIIT-B has so far incubated 12 ideas and currently supporting six companies in the areas of Education, Health Care and Energy.
“Mphasis firmly believes that, thriving social entrepreneurship ecosystems are integral to addressing some of the development challenges. In keeping with our brand promise of ‘Unleash the Next’, we are relentlessly looking for opportunities to support promising, disruptive social enterprises through reputed incubators. We believe that this partnership with IIIT-B, approved incubators by the Govt. of India., will enable us to realize this vision” said Dr. Meenu Bhambani, AVP and Head, CSR and the Office of Diversity at Mphasis.
“IIIT-B works in partnership with the corporate sector on education and entrepreneurial initiatives. Through this partnership with Mphasis we look to provide technology, management and financial inputs to help inspire innovators to bootstrap their technology ventures. With the innovative and inclusive CSR policies of Mphasis, we look to reach out to more eligible and aspiring people” said Prof. S. Sadagopan, Director at IIIT-B.