Manoj Kumar is the visionary behind Social Alpha, a pioneering innovation curation and venture development platform for science and technology start-ups in India. Social Alpha operates within the innovation ecosystem through a network of innovation labs, startup incubators, accelerators, seed funds, and market access mechanisms. The primary focus is on supporting early-stage tech innovations in areas such as climate change, livelihoods, and healthcare, with the goal of creating social impact at scale and potentially opening up new markets for growth and financial sustainability.
In his previous role in the banking, treasury, and capital markets, technology, and venture capital sectors, Manoj Kumar has transitioned into a new chapter with his full dedication to Social Alpha. He also serves as a director at mach33.aero, a collaboration between CSIR-National Aeronautics Laboratory and Social Alpha, aimed at addressing challenges in building companies in the space tech, precision engineering, and robotics sector to create positive impacts in areas like climate change, human health, and food security.
In an interview with indianexpress.com, Manoj Kumar discussed the challenges faced in identifying deep tech social impact startups, securing funding, finding markets, and ultimately achieving sustainability and profitability. He highlighted the journey of Social Alpha, its philosophy, and achievements in bridging the gap in innovation for marginalized communities and addressing pressing societal issues such as climate change.
Social Alpha has established its own labs for product development and collaborates with partner labs at research institutions like IITs to support incubatee startups. The platform follows a three-pillar approach – laboratories, ventures, and communities – to provide a full tech stack for the impact sector. This includes mentoring and investment support, product development, market testing, and scaling up efforts for social impact startups.
Social Alpha has mentored and incubated approximately 300 startups and invested in around 90 of them, with investments ranging from Rs 50 lakh to Rs 2 crore. The platform also collaborates with various stakeholders through initiatives like SustainPlus for clean energy access and mach33.aero for deep science and technology advancements in various sectors.
Some success stories from Social Alpha’s programs include Voxelgrids Innovations, a startup that manufactures affordable lightweight MRI machines in India, capable of producing high-quality images for clinical diagnosis under challenging conditions. These startups exemplify the impact and potential for growth that Social Alpha strives to achieve in the social impact startup ecosystem. In 2017, a prototype was deployed at the Sathya Sai Institute of Higher Medical Sciences in Bengaluru. By 2021, this prototype had successfully raised funds from Zoho.
Hasiru Dala is a pioneering venture based in Bengaluru that focuses on waste management. Their mission is to create dignified livelihoods for waste pickers while also making a positive impact on the environment.
Phool.co is a startup that has developed innovative technology to recycle used flowers into organic products. Founded by Ankit Agarwal and Prateek Kumar, this company produces natural incense sticks and cones while offering fair wages to marginalized women. They have also created Fleather, a material made from flowers that could potentially disrupt the global leather industry.
Satyukt analytics is an agritech company that utilizes satellite remote sensing technology to provide agricultural services worldwide. Their decision analytics platform uses satellite data, machine learning, and big data analytics to assist crop insurance companies in various aspects of crop management.
Tan90 has developed portable cold storage solutions to simplify the transportation of temperature-controlled products. Their specially designed thermal panels help maintain desired temperatures for food during transit, addressing the needs of small-scale farmers who may not have access to centralized cold storage facilities.
Khethworks focuses on developing technology and products for smallholder farmers. They have created a solar-powered irrigation pump to reduce farmers’ reliance on monsoon rains and expensive fuel pumping.
Social Alpha, founded by Manoj Kumar, has supported over 300 startups and funded around 90 of them. They have facilitated grants, market access, and opportunities for innovation, leading to numerous patents and awards for their startups. Social Alpha has built a strong network across various sectors to support innovation and investment in India.
Their labs focus on breakthrough technologies in areas like climate change and healthcare, aiming to make quality healthcare more accessible and affordable. More than 130 innovations from their labs have been deployed nationwide, with a significant impact on medical technology adoption.
Social Alpha conducts grand challenges in sectors like clean energy, healthtech, and waste management, providing a platform for innovators to address complex urban challenges through technology and innovation. Their nationwide scouting programs continue to support and collaborate with challenge winners to drive positive change.
Overall, Social Alpha’s innovative approach and investment in technology have made a significant impact on the innovation ecosystem in India.