Support via CSR

Corporate Social Responsibility (CSR)

Utilization of CSR Funds

Companies can contribute CSR funds to Innovation Mission Punjab in the following indicative areas:

1. Funding Support: Providing crucial financial backing for startups engaged in prototype/product development, market development, and scaling up their businesses.
2. Programs and Events: Supporting a wide array of initiatives designed to foster innovation and entrepreneurship, such as:
- Fail Fast Program: Helping startups quickly identify and address potential flaws in their business models.
- Virtual Accelerator: Offering remote acceleration services to startups, providing mentorship, resources, and support without geographical constraints.
- Sector-focused Accelerators: Targeted accelerators aimed at nurturing startups in specific industries, such as healthcare, agriculture, and technology.
- SME Accelerator: Tailored support for small and medium enterprises to help them grow and thrive.
- PINE Workshops: Practical and interactive workshops designed to spark innovation and creativity among participants.
- Trainings and Bootcamps: Intensive training sessions and bootcamps for school and college students, as well as self-help groups, to build entrepreneurial skills and mindset.
3. Capacity Building and Capital Expenditure: Investments in refurbishing laboratories and workspaces, upgrading office infrastructure, and other capital expenses to enhance the operational capabilities of the Mission.
4. Corpus Contribution: Contributions to the corpus fund to support the long-term sustainability and activities of the Mission.
5. Fellowships: Providing fellowships to startup entrepreneurs to help them focus on their ventures without financial strain.

Benefits for CSR Contributors:

Compliance: Fulfilling CSR provisions of the Companies Act, 2013, ensuring regulatory compliance.
Acknowledgement: CSR contributors will be recognized on Innovation Mission Punjab’s website, during various activities, and in all communications, highlighting their support and partnership.
Co-branding Rights: Opportunities for co-branding and naming rights for programs and initiatives, enhancing the visibility and brand value of the corporate contributors.

CSR Reporting:

Innovation Mission Punjab is committed to providing transparent and comprehensive reporting to assist corporate contributors in meeting their annual CSR reporting requirements. Half-yearly reports will cover:

Activities Undertaken: Detailed descriptions of the programs, events, and initiatives funded by CSR contributions.
Utilization of Funds: Financial reports comparing actual expenditures against planned budgets, ensuring accountability and transparency.
Impact Assessment: Evaluation of the impact of funded activities against pre-determined metrics, demonstrating the effectiveness and outcomes of the initiatives.

Contact Person at Innovation Mission Punjab:

Ashish Mehta
Head Operations, Innovation Mission Punjab
Mobile: 9316825541

By contributing to Innovation Mission Punjab, corporate entities can play a pivotal role in nurturing innovation, fostering entrepreneurship, and driving socio-economic development in Punjab. Your support will not only fulfill CSR obligations but also create lasting impact and sustainable growth in the region.

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