The objective of the Foundation for Innovation and Social Entrepreneurship objective is to back high-risk startups that “no other investor will normally touch with a barge pole,” says founder Manoj Kumar.
Funding for FISE’s Tata Smart Energy Incubation Center comes from Ratan Tata, former chairman of the Tata group of companies. It is the first of four startup labs planned by FISE, an impact venture fund and incubator.
FISE has raised more than $9.4 million and seeded two dozen startups, Inc24 reports.
