A range of corporates have backed an India-based seed-grant impact fund called Nudge Foundation that targets poverty reduction.
The backers include Tata Trusts, the philanthropic shareholder in conglomerate Tata and Sons, as well as motrocycle maker Maruti, networking technology producer Cisco, IT services firm Mphasis, conglomerate Godrej, retailer Target, bank Wells Fargo, Social Venture Partners and entrepreneur Nandan Nilekani.
Nudge Foundation will offer Rs 1m ($15,600) in seed-stage grants to each of 10 selected startups along with a six month stint at its incubator, N/Core, from September 2017. Atul Satija, formerly an executive at mobile advertising company InMobi, founded Nudge.