Mumbai, Nov 11: India Development Gateway (IDG), an innovative online portal, announced the launch of its first nationwide MSME (Micro, Small And Medium Enterprise) business plan challenge- Sankalp 2009.
The competition running on IDG's online platform aims to increase investments in, and build the capacity of socially relevant MSMEs in India's fast growing social and environmental sectors. IDG is an initiative housed within Intellecap, a leading social investment advisory firm in India. Sankalp 2009 is a serious attempt at identifying social enterprise investment opportunities within the Indian MSME space.
What makes this challenge unique is the force that powers it- the India Development Gateway (IDG) is an easily browsable website rich with information that helps entrepreneurs improve their concept and connect to an online community of mentors, experts and investors for networking.
Sankalp 2009 effectively leverages the online platform and helps entrepreneurs make their plans investment worthy, link finance and expertise to business opportunities, and make high potential, socially relevant investable plans visible globally through the IDG platform.
Talking about IDG's potential to facilitate investments into viable, dynamic MSMEs, Atreya Rayaprolu said "The funding gap in the MSME space can only be addressed through innovative solutions and IDG aims to do just that. The online platform with its ready-to-use tools, brows-able profiles of participating entrepreneurs online, makes Sankalp an exciting opportunity for both entrepreneurs and investors alike. IDG would also like to take this opportunity to thank NABARD, who have consistently supported various Intellecap initiatives in the past and are working with us in making Sankalp a national level platform. The apex bank is the Supporting Partner for the Challenge."
Reaffirming Rayaprolu's views, Vineet Rai, Chairman of the Intellecap board, said that "Early stage entrepreneurship needs a nurturing ecosystem and initiatives such as Sankalp promoted by the India Development Gateway are efforts to build that ecosystem that provide professional and consistent services using ICT tools."
Voicing his support to Sankalp's efforts, Paul Basil, Founder and Chief Executive Officer of RIN said "Innovative enterprises face a big hurdle to access funding on account of poor business planning skills. IDG will address this critical piece. At a larger level this competition will create an eco-system of enterprises and investors to make the world a better place to live.
"RIN, a Prize Partner for the event, is also sponsoring a special recognition prize to the most innovative business plan for rural markets that emerges out of the Sankalp Challenge.
Sankalp 2009 is also being supported by Aavishkaar India Micro-Venture Capital Fund. Aavishkaar is one of the prize partners for the competition.
Organized by IDG this challenge will be an annual national level feature. The competition will not only identify businesses with high potential for investment, but will provide a platform to explore emerging ideas, new markets and new ways of investing. While giving the feel of a realistic investment process, Sankalp will also expose entrepreneurs to a bouquet of services that would help make their ventures more ready for strategic investments.