Impact Investment for LGBTQAI+ Entrepreneurship & Incubation
Channel: Sankalp Forum
Date: 2022-11-18

Surge Impact Foundation, a Section 8 not-for-profit company based out of Hyderabad, India has launched India’s first 6-months Incubation program, in association with State Street, to support LGBTQIA+ Individuals/Not-for-Profit Social Enterprises/NGOs in August 2022. The program aims to provide founders and social entrepreneurs from the community and their organizations with a  mix of financial and non-financial support to empower them to scale their impact. This includes a fellowship model, personal leadership mentoring, a milestone-based seed grant, networking & funding support, and market linkages, among others.
A closer look at the Indian entrepreneurship market has revealed that no such study has been conducted on LGBTQAI+ entrepreneurship in the country. In India, the conversation is still stuck at the level of truly incorporating diversity policies in Indian workplace and hence, about hiring and creating a safe workspace for LGBTQAI+ community. In the absence of an anti-discrimination code in the country, LGBTQAI+ community in India face unique issues in banking, housing, and health. The Hijrah community, unique to the Indian diaspora, is still grappling with issues of identity and basic rights. Hence, there is a high possibility of Indian LGBTQAI+ entrepreneurs facing challenges starting from the very basics of getting their enterprises registered and navigating privacy softwares. Hence, the current discourse on the LGBTQAI+ community (or lack thereof) needs urgent redressal in the entrepreneurship narrative in India