Fullerton India to support Srijan Microfinance Business Plan Competition 2008

Indias only microfinance business plan competition -Srijan 2008 (www.srijan2008.com) received another strategic tie-up with Fullerton India Credit Company Limited.

Mumbai, June 18 : India's only microfinance business plan competition -Srijan 2008 (www.srijan2008.com) received another strategic tie-up with Fullerton India Credit Company Limited.

Confirming their involvement as part of their Corporate Social Responsibility (CSR) in Srijan 2008 as Associate Sponsors, Fullerton India not only announced a financial contribution but also promised a long-term commitment to providing Mentor Capital to the most promising business ideas, arising out of the this national-level entrepreneurship platform.

Organized annually by Intellecap, Srijan this year is co-organized by Aavishkaar Goodwell and The Financial Express.

The competition seeks to address three priority areas for the microfinance sector: lack of risk capital, knowledge asymmetry, and application of technological innovation for business efficiency.

Most importantly, the competition brings in the much needed 'Mentor Capital' to entrepreneurs and recognizes those capable of building institutions to accelerate microfinance delivery to the poor.

As a platform, Srijan helps investors and ideas work together towards creating the desired multiple bottom line impact.

As an integral part of this support, Fullerton India will sponsor part of the operational costs associated with the event. It will also involve its senior staff as Screeners, Judges and shall provide mentoring support to the top Srijan entrepreneurs.

Supporting the initiative, Sundararajan, MD and CEO Fullerton India said, "We are in the business of fostering sustainable development of micro-entrepreneurs. We endeavor to recognize the potential of every small enterprise and help them grow and make their growth sustainable. We believe that the mass market segment comprising the micro-entrepreneurs will become a major contributor to the economy as a whole provided they receive financial support at the appropriate time. Fullerton India's support of this initiative of Srijan is to encourage micro-enterprises to express their aspirations and also strive to fulfill them."

The Competition is currently in the process of evaluating the 10 best business entries for this year. The top 10 entrepreneurs will battle it out at the Finals, in the first week of July 2008, to win the coveted 'Srijan 2008: Best Business Idea Award'.

Apart from prize money, top Srijan entrepreneurs would receive guidance from mentors and experts within the sector who will help them refine and improve their business ideas, post the award ceremony.

The Srijan competition is supported by FMO Netherlands, National Agricultural Bank for Agriculture and Rural Development (NABARD), Standard Chartered Bank and International Finance Corporation (IFC), 'Online media' partners like VCCircle.com, 'Outreach Partners' like the Solution Exchange and 'Print Media Partners' like The Financial Express and Microfinance Insights.

ANI