We empower last mile implementers to play the role of an incubator in unorganized sector. Our customers select and groom first generation entrepreneurs in unorganized sector, the way an angel does for its startups. First generation entrepreneurs avail market intelligence. Existing entrepreneurs avail business analytics. Last mile implementers avail data-driven insights for promotion of new ventures.
Our VC/ incubator like approach bridges the gaps in all missing ecosystems – knowledge, incubation and financial. Never before has an all-encompassing approach been taken to micro-enterprise promotion. Our products and services touch upon all important gaps. Our solutions facilitate ecosystems which are at par with those in organized sector.
Micro enterpreneurs get access to knowledge through library of videos, which are available at doorstep. The knowledge is created and disseminated at last mile, by micro venture consultants, in local dialect. Micro entrepreneurs get access to incubation and mentoring at last mile through IT and data analytics. Micro venture consultants provide local market and business intelligence based on pan-India data of thousands of businesses.
Micro entrepreneurs get access to financial products, which are best suited to their needs. First generation entrepreneurs avail quasi-equity finance as they are able to offload part of risk. Existing entrepreneurs avail cash credit/ overdraft facility as they are able to optimize on cashflow by minimizing interest expense.
Our customers play role of a catalyst, the way a VC Fund/ incubator does. The brightest, yet underemployed, youth from local community are mobilized and trained in business management. These youth use our IT and data analytics to provide end-to-end mentoring to first generation entrepreneurs and existing businesses. They create pipeline of worthy entrepreneurs, who otherwise would have continued as labourers, by assessing business viability, estimating loan eligibility and recommending sanction of loan. Once businesses are launched, focus moves onto handholding on need-basis.
Our customers groom Micro Venture Consultants in business management, soft skills and IT skills. Brightest of youth are selected through rigorous selection process. Training involves both field sessions and classroom sessions. The learning curve of fresh recruits is shortened through knowledge videos. The capability and productivity of fresh recruits is enhanced through IT and data intelligence.
The local wisdom of youth, complemented by IT & data analytics of thousands of pan-India enterprises, substitute for senior staff. This leads to reduced time to implementation at new location, reduced dependence on experienced staff, reduced cost of scaling up and lower attrition, thereby, impacting the bottomline of our customers.
First generation entrepreneurs in unorganized sector are mostly daily wage earners. Their risk appetite is low as they do not have alternate source of income like agriculture, livestock etc. They cannot afford to start-up a business on loan, since fixed instalments increase their vulnerability. Our customers, using our advanced financial modelling, facilitate quasi-equity financing to first generation entrepreneurs. Not only the risk is partially offloaded, the repayment happens based on performance of business. If business succeeds, repayment continues. If business does exceedingly well, repayment is higher than expected. However, if business fails, repayment is discontinued. Our customers also facilitate Cash credit/ Overdraft facility using our advanced financial modelling/ analytics. Based on intelligence of regional businesses and local market, CCL limits and repayment pattern are set.
There is no fun in creating impact that is not sustainable and replicable. One cannot dream of creating nation-wide impact if the model works in ‘project mode’ (that is, its always dependent on grants). To scale up organically, a model has to be self-sustainable. To replicate seamlessly, a model has to have a ‘cookie-cutter’ aspect. We firmly believe in this ideology.
We empower our customers to create sustainable impact. The capacity of Micro Venture Consultants is enhanced to an extent that they earn for services rendered. The knowledge products and processes are standardized to enable ‘cookie-cutter’ aspect. Our customers, thus, are empowered to phase out gradually and let community cadre take over in sustainable fashion.
We empower our customers to provide end-to-end mentoring support. Mentoring starts at ideation stage itself. A potential entrepreneur is provided with list of ‘location-specific’ viable businesses to choose from, based on advanced analytics using local market data. Micro Venture Consultants explore the right fit of ‘entrepreneurship potential’ using Psychometric Test in an applicant and the type of business chosen. An opportunity entrepreneur is matched with large growth business while a necessity entrepreneur is linked with (community level) limited growth business.
Mentoring is then provided in terms of location selection, machine sourcing, raw material sourcing and charting out growth strategy. Access is given to knowledge products (in local dialect) to shorten the learning curve.