Loading ...A venture capital fund with a difference. Quite removed from the world of IT start-ups, Aavishkaar India Micro Venture Capital Fund or Aavishkaar India concerns itself with rural enterprises and grassroots innovations that have the potential to improve the quality of life in the interiors of the country.
It hopes to do so by encouraging and supporting the rural entrepreneur who may have a workable idea or invention, but not the funds to turn it into a marketable proposition.
From their website
Aavishkaar believes entrepreneurs can be a powerful force for development. To this end, the firm provides micro-equity funding (Rs. 10 lacs to Rs. 50 lacs, approximately USD $20 thousand to USD $100 thousand) and operational and strategic support to commercially viable companies increasing income in or providing goods and services to rural or semi-urban India.
More at www.aavishkaar.org
Hi Ashwin, This is very interesting. Aavishkar is on look out for Social Investing & Micro Ventures.
Also to share, I last read that number of Social Venture Capital Funds are also heading towards India to tap micofinancing options in semi-urban & rural areas. I recall two - Bellwether (US) & Hivos Triodos (Netherlands).
Thers another - Unitus which funds NGOs which work as microfinance outfits and later transforms them into NBFCs. They have already made 2 such NGO > NBFC transitions. Interestingly ACCION plans to tie with Unitus to reach 15 million households in 10 years.
Thanks for sharing this info on Aavishkaar. It is indeed a VC fund with a difference.
Are there any venture capital funds that invest in an idea , vis-a-vis in a company at start up stage ?
Also, is there a standard/basic ‘Business Plan’ template that someone could share please?
Amita,
Best thing would be to approach incubation centres where you could get help in initial setup of company. Once your company is able to to test out the idea (prototype), you may get some seed funding from angel investors.
Incubation centres also have links with venture capital funds and they could guide you about the whole process.
You can also search internet for standard business plan templates.
Cheers,
Ashish
Amita,
Check out www.gvfl.com. All the best.
Ashwin:
This is more like Paul Graham’s Y Combinator, with a social (rural, semi-urban) angle. I think there is a definite power in this idea but ultimately it boils down to finding committed entrepreneurs, which will be key.
Hi Ashwin,
In the rural space handicraft is the 2nd largest employer of human resources after agriculture - this space has not been given enough importance or funding - there are carpenters in Europe that are selling their products as luxury brands - where as real craft & art in India sells for penny’s. The simple process of the 5 P’s of marketing will help them go up the value chain - especially now - with thousands of retail shelves coming up across india. These craftsmen have generations of history and skill behind them but very few helping them capitalize on it - the one example of success in this space is Fab India.
cheers
Rajat
IN projects like ,MVIF augmentation the whole idea is of Social venture capitalist and incubators who can suppport in innovations and have risk bearing capacities. Although success lies on the initial business plan and role of stakeholders.
Hi ! All,
I am working with a business group and my bosses have asked me to set-up a Venture Capital Fund/ Company for them and for that matter I have to study the procedures, legal formalities and costs involved.
I want someone who can guide me through the whole process and provide me with draft trust deed, memorandum and other papers.
Can someone do it or atleast tell me where I can get it? Bye n take care.
manoj
Hi friends, I SriniwasKulkarni, I have associated with small Microfinance Institution, is just startup organisation just started individual social investors have contributed to venture capital of Rs. 2000000. in Dharwad district. This is very transparant, These small investors, are from IT, Educationalist, NGO-practitioners, and Bankers. Now it is helping 150- marginal families to initiate microbusiness, and are repay the loan amount to MFI. This year 2008-09 our business plan reach to 1000 families of potential families.
Therefore we are loooking for small investors, and the investor will get their money back after minimum locking period of Three years. The minimum Investment is Rs.1000 / and its multiple. The social investor will get regular reports on about their money being used, he can visit those beneficiary families.
This organisation is registered as NGO ,has exempted from Income tax 80G, and 12A .
Thank U
Chief Exe.Officer
Hi Shriniwas,
I would like to interact with you. Presently I am doing research on the concept of “Social Micro Venture Fund”.
Please contact me on srujay[at]indiatimes.com
jayesh,
Mumbai