New Delhi: FICCI Lead Center Millennium Alliance conducted its Round 3 Awardee pitching session as an augmentation to the Stand Up India initiative by the honorable Prime Minister Narendra Modi. He has announced an all-inclusive action plan to boost such ventures that would boost employment generation, wealth creation and thereby catalyzing social impact. Millennium Alliance an initiative of FICCI is currently running in its third year and functions on the lines of the Stand Up India initiative.
Millennium Alliance is a pre-eminent platform that is launched jointly by the Technology Development Board (Department of Science and Technology, Government of India); USAID and FICCI to recognize India’s role as a global innovation laboratory, by identifying, testing and scaling solutions that leverage private and public sector resources and expertise to reduce the cost and increase the reach of development improvements in India and around the world. ICICI Foundation for Inclusive Growth, ICCo Cooperation, UKAID and WISH Foundation subsequently came on board as Program Partners. Recently World Bank came on board as Knowledge Partner.
The Millennium Alliance aims to create significant developmental impact at the base of the pyramid population. So far Millennium Alliance has funded twenty nine projects in its key focus sectors of Basic Education, Water & Sanitation, Health, Agriculture & Food security and Clean Energy/ Climate change. A few projects have also been funded in the “Others” category pertaining to crowd funding and financial inclusion. The alliance has also gone global with a focus to foster South- South cooperation and is currently present in Afghanistan, Kenya, Nepal, Ethiopia, and Bangladesh.
Three Thousand Sven hundred and fifty one applications have been received by Millennium Alliance till date. After the screening of the received applications by sectoral and field experts, capacity-building activities and due diligence visits are undertaken for the selected applicants. Millennium Alliance follows a completely transparent, robust and impartial procedure for its selection.
For Round 3 Millennium Alliance received a total of 876 applications from which after strict scrutiny by consortium of experts a total of 59 finalists have been selected. These Millennium Alliance finalists shall be pitching for the final selection in front of Millennium Alliance Partners Strategic Advisory Board and domain experts.