Mumbai, Maharashtra, India
Intellecap has announced Srijan Microfinance Business Plan Competition 2008 in partnership with Aavishkaar Goodwell and The Financial Express.
Srijan (www.srijan2008.com) is the first and only business plan competition focused on microfinance and injects entrepreneurial energy and sparks innovation into the fast-growing sector.
Now in its third year, Srijan (Creation, in English) is an annual business plan competition that seeks to address the challenges of capital, knowledge and technology within the microfinance sector by inviting creative ideas that suggest proactive solutions. Srijan participants will get an opportunity to test their business ideas and their ability to achieve social and commercial success. Participants in Srijan 2008 will receive invaluable exposure to investors, the financial and banking community and benefit from mentoring by Intellecap's investment advisory team and Srijan's sponsors. Winners will receive cash awards as well as an opportunity to transform their idea into successful enterprises. In its three years journey, Srijan has received active support from the microfinance sector and financial agencies such as the Standard Chartered Bank.
Srijan winners are motivated entrepreneurs with the potential to transform the sector; they have achieved some success in creating strong and viable enterprises. Take the example of Vijaya Switha Grandhi, the first prize winner of Srijan 2007. Switha started her enterprise 'Chitrika' after winning wide recognition from Srijan and leveraging the networks that it helped her forge. Chitrika provides financing to rural artisans in the Indian state of Andhra Pradesh. Focusing primarily on weavers, Switha's plan linked microfinance with livelihoods enabling small artisans to break away from exploitative master weavers and eventually own productive assets like looms and other trade tools.
To quote Vineet Rai, co-founder and executive director of Intellecap, "This competition brings new ideas and leaders into the microfinance sector to create innovative solutions. Srijan is about broadening the sector itself, and aggressively recruiting smart minds and dynamic ideas that can accelerate microfinance into the mainstream."
Srijan 2008 is open to all Indian nationals or those residing in India. Individuals, groups, companies and other institutions with innovative ideas or business solutions can submit business plan summaries before March 15, 2008. Details, application guidelines and competition schedules are available on the competition website at www.srijan2008.com.
Srijan 2008 is also accepting proposals for sponsorship/partnership and invites interested companies/organizations with similar mandates to join this initiative.
About Intellecap
Established in 2002, Intellecap is one of the fastest growing strategic services firm in the international development sector. Intellecap has undertaken pioneering initiatives in the field of finance and strategy in the microfinance sector, and seeks to leverage this experience to other areas that benefit social and economic development. For more information about Intellecap, please visit www.intellecap.net.
About Aavishkar Goodwell
Aavishkaar Goodwell is a for-profit business development company that provides equity finance and hands-on support to entrepreneurial microfinance organizations in India on a socially and commercially sustainable basis. It aims to improve access to affordable financial services for millions of families in order to contribute to poverty alleviation and sustainable development. For more information about Aavishkaar Goodwell, please visit www.aavishkaargoodwell.com
About The Financial Express
Established in 1961, The Financial Express is one of the most in-depth and incisive national business dailies. It offers comprehensive coverage of economic policy, business developments and market trends. The FE publishes editions in Delhi, Chandigarh, Mumbai, Kolkata, Kochi, Bangalore, Chennai, Hyderabad and Ahmedabad. Website: www.financialexpress.com
Source: Intellectual Capital Advisory Services Pvt. Ltd. (Intellecap) (Business Wire India)
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