The elite jury voted for Haqdarshak as the winner after two rounds of discussions, weighing in on both the nominees and how they are making an impact on society through their businesses. The Social Enterprise category recognises a startup that best embodies the ‘double bottomline’ model of combining profits and public good.
ETtechWhile waste and its disposal method as a theme interested the jury, they finally picked Haqdarshak for the startup’s efforts for bringing in more people within the government’s welfare schemes through a profitable business model.
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One of the jury members pointed out that the government is investing large sums into social security, and anyone helping more citizens access these schemes is set to make a major impact.
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“This recognition is a very humbling experience, it will go a long way in helping us remain rooted to our cause; we have touched the lives of seven million Indians as of now, which is a drop in the ocean; this recognition will drive us to work harder towards expanding the beneficiary base,” said Aniket Doegar, chief executive officer, Haqdarshak.
For the startup, which primarily works with 150 corporations, family offices and non-governmental bodies, to reach out to millions of blue-collar workers, farmers and micro businesses, the next round of growth will come from financial services.
Haqdarshak is already piloting a RuPay card for these beneficiaries to help them access financial services in a more organised fashion.
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“We have just finished the first phase of the business, the next is when we will expand our scope of operations to actually tap the bottom 70% of the country’s population and the payment service will enable us to do that efficiently,” Doegar added.
Currently Haqdarshak offers a ‘Yojana card’ which helps identify potential beneficiaries of these schemes and provides training on accessing these schemes. Doegar said the company has helped people access benefits worth Rs 25,000 crore so far.
Founded in 2016, Bengaluru-based Haqdarshak has raised Rs 20 crore in funding so far from investors including Acumen Fund, and Financial Health Innovation Fund. In the last two years, the startup reported a Rs 47 lakh net profit on revenue of Rs 35.5 crore in the financial year ended March 2024.
Other contenders
Blackfrog Technologies
ETtechDonson Dsouza, cofounder, Blackfrog Technologies
Blackfrog Technologies builds portable battery powered backpacks, which can carry vaccines at a constant temperature for long distances even without an external source of power.
Saahas Zero Waste
ETtechShobha Raghavan
Saahas helps in recycling of solid waste generated in large corporate parks and housing societies. Provides services through which waste can be collected through formal channels and recycled for new products.
Kosh
ETtechAayush Goyal and Sahil Bansal, cofounders, Kosh
Kosh provides accessible financial services to blue collar workers, who are either part of the gig economy or work at factories and production units.
Rang De
ETtechSmita Ram, cofounder, Rang De
Rang De runs a peer-to-peer lending platform to connect retail investors with borrowers. The aim of Rang De is to encourage investors to pump in funds to provide capital to rural Indians.