With the Centre making Corporate Social Responsibility mandatory for companies, a city-based startup has set its sights on tapping the huge potential in the area by offering implementation support.
Under the new Companies Act, that came into force on April 1 last, most firms with sizeable business are required to shell out at least two per cent of their three year annual average net profit towards Corporate Social Responsibility (CSR) activities.
Until now, CSR activities were largely carried out by the companies themselves. However, with CSR being made mandatory, companies would be looking to have partners who will help them in planning and implementing their CSR initiatives, CII Kerala Head John Kuruvilla said.
The new Companies Act has prompted corporates to look at CSR as sustainable long term projects, he told PTI.
This is where the startup Zero484 Infomedia Private Ltd plans to play a major role.
The venture, started by three Kochi-based youngsters -- Radhakrishnan Ram Manohar, Sidharth Vijayan and Praveen Paul, who are the founder directors of the company -- is perhaps the first startup in Kerala which began focusing on CSR even before it was made mandatory.
"With the central government making CSR mandatory there is a huge opportunity for startups like us to tap," Radhakrishnan said.
The company has identified its niche business space in organisations which need implementation support for its CSR team.
"We can also offer our expertise to conceive, create and execute projects for companies which need 360 degree solutions in CSR programmes," Vijayan said.
