Risers Accelerators, a group of 35 entrepreneurs based in New Delhi, announced that it would fund startups across the country working in the women safety space. The group said that an initial funding of Rs 2 crore will be provided to startups, which have innovative technology based business model for women safety.
The funding amount may increase considering the scale and scope of the product and service, it added. The funding firm said that social issues like women safety is a rising concern in cities and in times like these, technology could be a huge saviour.
"Reading about gory offences against women has made us think for weeks. We wanted to play a role in ensuring that women safety should be the prime concern. In this age of technology and start-ups, we came up with the idea that if any start-up comes up with a feasible idea in this regard, we will help them in growing its business," said Pravin Khandelwal, chief consultant, Risers Accelerator.
According to the National Crime Records Bureau data released recently, the incidents of rape surged from 34,651 in 2015 to 38,947 in 2016. Similar is the case with other crimes against women.
“A simple technology on your phone, or any other device thus can come very handy for your friends, family to locate you or send you a warning about a potential danger,” said a statement by Risers Accelerators. Despite a huge market, start-ups working in the social sector in India have failed to attract a good number of investors unlike the tech start-ups in the commercial space.
Analysts say that the business model followed by social start-ups usually involves more risks since the end consumer does not necessarily come with a purchasing power. "Start-ups are prospering in the country and many people look for ideas that have an impact on the country’s economy only. We wanted the people to think of start-up ideas which not only take care of the commercial benefits but should also have a social impact," said Rachit Chawla, director, Risers Accelerator.