Millennium Alliance Awards US$3.6 Million to 49 Social Innovations

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News: The Millennium Alliance Initiative today announced awards of US$ 3.6 million to 49 aspiring Indian social entrepreneurs for their innovative solutions to address Indian and global development challenges.

Facts:

  • Millennium Alliance:It is an innovation-driven and impact-focused initiative leveraging collaborative resources to identify test and scale Indian innovations that address global development solutions. 
  • Bodies Involved: It is a consortium of partners (Public-Private Partnership) including the Department of Science and Technology, Govt. of India, United States Agency for International Development(USAID), FICCI, UK Government’s Department for International Development (DFID), Facebook and Marico Innovation Foundation. 
  • Significance: The program has played an important role in providing funding, capacity building and business development support to Indian social enterprises.