How do you differentiate between a social enterprise and a non-social enterprise?
Social enterprises are business organisations whose business model aims to provide solutions to alleviate long standing problems and issues relating to the poor and underserved sections of the society.
Who can enter the PRAISE program?
The main objective of the program PRAISE is to support social enterprises. Hence, only those businesses that fit our definition of 'social enterprise' are allowed to participate in PRAISE.
Which area does PRAISE program particularly work on?
The program aims to solve critical issues (not limited to) viz.
• Legal / Compliance: Ensure the enterprise is up to date on compliance – Accounts, Audit, RoC etc. Check Legal Agreements. Employee Agreements. Shareholders’ Agreements. IPR etc.
• Business Plan & Investment Collateral: Prepare business plan. Financial modeling. Debt Structuring etc.
• Public Persona: Branding. Website and company collateral. Product design help (if needed)
How do I enter the PRAISE program?
To enter the competition, you will need to register by clicking the "Apply" button on the top-right of this screen. You can fill in the application form and submit it thereafter, for the judging panel to review.
Does it cost me to participate in the PRAISE program?
No. The core philosophy of the PRAISE program is to support social enterprises. PRAISE does not charge the enterprises for registering or participating in the program.
I have submitted my entry, but how can I ensure if it has been registered successfully?
You should receive a confirmation mail from F6S after you hit the submit button in the application form. On rare occasions, it may take upto 4 hours for the system to generate the confirmation mails. If you still do not get the confirmation mail even after 4 hours, please write to us at contact@praiseprogram.com
Is there any cap on the number of participants, who can participate?
There is no limit on the number of participants who can apply.
Do I register as an individual, or as a team?
You have the option of registering as a team (or) individual. Register as a team if multiple people in your enterprise are collaborating on your application. But, make sure you submit only one application per enterprise.
What are the different channels to submit my entry?
Applications can only be submitted online.
When does the online registration close?
Last date for submitting your application is 2nd January, 2015
Am I competing to “win” the PRAISE program?
We would like to clarify that PRAISE is not a competition. We believe that all social enterprises are already winners for serving the society. The purpose of PRAISE is to recognize & support these deserving enterprises and accelerate the investments in this sector.
Do participants need to be in Delhi/NCR physically during course of the program?
Participants do not need to be present physically in Delhi/NCR during the entire course of the program. But, they would be invited during a few weeks in January/February to visit Delhi and attend the workshops/seminars.
Who shall be forming the judges’ panel committee?
Judges/Jury Panel committee would comprise of nominated representatives from GIZ, SIDBI, and 91Springboard and leading angel and impact investors, along with key subject matter experts.
When does the program finish?
Declaration of the decision of Judges Panel committee for investments will be followed by the closing ceremony by end of March or beginning of April.
What if I am already in touch with SIDBI and/or other investors?
PRAISE does not conflict in any way with your current investor relations. We would be happy to know of your progress on this front. Our aim is to merely accelerate the investments and ensure you can focus on growing the business, while we support your growth. Ensuring that you receive funding primarily is in our mutual interest to scale your enterprise.
When can I expect to get the funding from the investors?
We hope to complete the final paperwork for the candidates (after shortlisting and detailed evaluation) selected for funding through Feb-March, 2015 and ensure that it arrives in the bank by April, 2015.
Whom should I contact, in case I need further clarification?
Please write to us at: contact@praiseprogram.com
