ACT Grants eyes fund to solve societal issues

ACT Grants, a non-profit alliance of more than 100 volunteers from start-ups and VCs, is raising ₹500 crore to back ideas that can help utilise the ‘start-up energy’ to solve issues related to healthcare, environment, education, and women empowerment. The alliance had come together last year to set up a ₹100-crore fund to combat the pandemic. The alliance has funded 54 start-ups and over 100 projects to support existing medical infrastructure till now. “...individuals, companies, and the funds, all contributed...34 founders and corporate leaders and VCs as individuals and then 44 mainstream funds all contributed in the first round, or the first Rs 100 crore that we raised,” Shekhar Kirani, Partner, Accel & Investment Committee Member, ACT told The Hindu.