Call for applications now open for the 2024 edition of the Schaeffler India Social Innovator Fellowship Program. In an era where innovation and social responsibility go hand in hand, Schaeffler India has launched its Social Innovator Fellowship Program for 2024. This cutting-edge initiative aims to recognize and support individuals who are developing unique, sustainable solutions with the potential to create positive societal impact.
Schaeffler India, a subsidiary of the global Schaeffler Group, has established itself as a reliable partner in making motion and mobility more efficient, intelligent, and sustainable. With four plants and 11 sales offices across India, the company has a significant presence in the country, operating under three major product brands: FAG, INA, and LuK. Schaeffler’s commitment to innovation extends beyond its core business, as evidenced by this fellowship program.
Fellowship Overview
The Schaeffler India Social Innovator Fellowship Program 2024 is designed to bridge the gap between innovative ideas and their practical implementation. It offers a unique blend of financial support and mentorship, creating an ecosystem that nurtures social entrepreneurship and catalyzes systemic change. The program encourages risk-taking and experimentation, understanding that groundbreaking solutions often emerge from unconventional approaches.
One of the most appealing aspects of this fellowship is its focus on making participants “investor-ready.” The program aims to amplify the impact of the selected projects. This approach not only benefits the individual innovators but also contributes to the broader goal of addressing pressing societal challenges through sustainable solutions.
Eligibility Requirements
The eligibility criteria for the program are designed to cast a wide net, inviting diverse perspectives and ideas.
- Applicants should be between 18 and 35 years old as of July 1, 2024.
- The program is open to individuals, groups, and organizations; both for-profit and non-profit across India.
- The program seeks projects that have moved beyond the conceptual stage, requiring a functioning prototype that demonstrates clear potential for scalability and positive impact.
The fellowship focuses on six key areas that align with global sustainability goals:
- Environmental Sustainability
- Renewable Energy
- Carbon Neutrality
- Circular Economy
- Natural Resource Management
- Technology in the Social Sector
Awards
The rewards for the selected fellows are substantial. Ten winning projects will each receive a grant of INR 1.5 Lakh, providing crucial financial support to further develop their innovations.
Perhaps even more valuable is the 24-week hybrid mentorship opportunity at IIMA Ventures, Indian Institute of Management Ahmedabad.
This world-class mentorship program will equip the winners with the knowledge, skills, and connections needed to scale their solutions effectively.
How to Apply
Applicants must register through the application link below and submit an idea pitch deck along with a 90-120-second video describing their project.
The selection criteria include;
- The clarity of the target market
- Scalability
- Economic sustainability
- Commercial viability, and;
- The existence of a working prototype.
Application link: http://app.schaefflerindia-socialinnovators.com/node/add/application
Timeline
- Online application opening: July 15, 2024
- Submission deadline: August 15, 2024
- Fellow selection process: September 15, 2024 (tentative)
- Announcement and induction of fellows: October 2024 (tentative)
