Indian Institute of Management, Calcutta and Tata Group jointly organised the Tata Social Enterprise Challenge 2016-17 on January 14, 2017. The competition plays a significant role in recognising the country's most promising early stage social enterprises which would bring long-term solutions to social needs of the country. It was the 5th edition of the challenge and Pentavalent BioSciences Private Limited, Bangalore won the challenge.
Pentavalent BioSciences Private Limited is a social enterprise and biotech startup which provides innovative solutions right from discovery to development. The innovations made by this startup are not only cost effective but can also be implemented with the use of new technologies in the diagnostics market. Currently, the company is developing a FlapCut technology which detects Tuberculosis (TB).
Addressing the gathering on the occasion, Prof. Ashok Banerjee, Director of IIM-Calcutta Innovation Park said that the institute and Tata Group have successfully organised the fifth edition. The major motive of the Innovation Park is to encourage the entrepreneurs with exceptional talent.
IIM-C's Innovation Park also launched INVENT in collaboration with Department of International Development, United Kingdon (UK). INVENT is a three-year programme, and the total budget of the initiative is Rs. 12 crores. Through this programme, a sum of Rs. 25 lakhs will be granted to for-profit social enterprise startups.
The prize distribution ceremony also witnessed the talks by inspiring social entrepreneurs. The winners were felicitated by Harish Bhat, Brand Custodian of Tata Sons.