Mumbai, Jan 18 (ANI/Business Wire 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 micro-finance and injects entrepreneurial energy and sparks innovation into the fast-growing sector.
Now in its third year, Srijan 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.
Srijan 2008 is also accepting proposals for sponsorship/partnership and invites interested companies/organizations with similar mandates to join this initiative.