Schaeffler India has launched the Schaeffler India Social Innovator Fellowship Program with the support of Buddy4Study. This initiative aims to recognise and reward visionary individuals who are developing unique and impactful solutions that can make a positive difference to society at scale.
The Schaeffler India Social Innovator Fellowship Program invites applicants between the age of 18 to 35 years to submit their innovative projects, addressing critical challenges in areas such as Environment Sustainability, Natural Resource Management, Renewable Energy, Carbon Neutrality, Circular Economy, and Application of Technology in the Social Sector, including Robotics and Drones. The program is open to individuals, groups, institutions, and both for-profit and non-profit organizations across India.
The fellowship grants, each worth Rs 1 lakh, will be awarded to 10 exceptional projects that demonstrate a clear target market or audience, address specific needs or opportunities, have the potential to scale and positively impact people, are economical and sustainable, and possess commercial viability. Applicants must present a functioning prototype and describe their work through a video that can be uploaded on the program’s website.
Commenting on the announcement, Harsha Kadam, Managing Director and CEO, Schaeffler India, said, “At Schaeffler India, we firmly believe that innovation and development are crucial drivers of growth, but we recognize that equitable innovation holds the key to fostering inclusive growth. As we observe technology-driven disruptions promoting growth and holistic development all around us, we are fully aware of their significance. This awareness has led us to unveil this platform, dedicated to nurturing and empowering visionary individuals who aim to make a meaningful difference through their innovative solutions.”
The selected fellows will not only receive the fellowship grants but also get a unique 24-week hybrid mentorship opportunity at the Centre for Innovation Incubation & Entrepreneurship, IIM Ahmedabad. This mentorship will help the winners further develop and scale their solutions and access Schaeffler India’s extensive network and partners. Additionally, they will become part of a vibrant community of like-minded peers, fostering collaboration and collective growth.
Applicants can apply for the program starting from August 10, 2023, until September 10, 2023, by filling out the online application form and submitting the required documents, including a video describing their project, an idea pitch deck, Aadhaar Card, and a passport-sized photograph. The selection process will involve multiple stages, including reviews, telephonic interviews, virtual interviews with the Schaeffler India team, and a project pitch presentation to a jury panel and leaders.