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Tata Trusts, through its Foundation for Innovation and Social Entrepreneurship (FISE), plans to support around 1,000 innovations in the tech sector which can solve social problems, a company official said.

Tata Trusts is working with some leading organizations to find and build a pipeline of such projects which need incubation support.

"Our plan is to support 1,000 innovations. Currently, we already have 30-odd innovations incubated and our plan is to increase the number 8 to 10 fold by 2020," Ganesh Neelam, Associate Director, Tata Trusts, told PTI.

Tata Trusts is trying to create an ecosystem for such projects.

It provides the support they need, which includes risk coverage by the startups, he added.

"The numbers which we are planning are fairly huge because we want to build an overall ecosystem for innovators to actually come and then work on technology which is really capable of solving social problems," he added.

"We are going ahead and talking with lots of partners and trying to see as how we can build all that pipeline," Neelam said.

The Department of Science and Technology, Lockheed Martin, and Tata Trusts today announced the winners of India Innovation Growth Programme 2018.

The winners were chosen from among 3,000 applicants who proposed innovations to create large-scale social impact and bring industrial transformation in India.

News Source: Money Control