AWARD YEAR
2021
CATEGORY
Community
GOALS
Reduced Inequality
KEYWORDS
entrepreneurship, Rural communities, Empowerment
COUNTRY
India
DESIGNED BY
Business Raja
WEBSITE
http://www.activate1m1b.org/business-raja.html
Rural Shark Tank
Empower a rural entrepreneur
Agriculture and microbusiness are rural India’s biggest sources of income. But with uncertainty of agricultural yields and lack of funds for micro-businesses, rural impoverishment and migration is a complex challenge. Our solution:
USD 10,000 (INR 7.5L) for one village, pooled in by a global community of investors. Choose 10 best small business ideas through a rural shark tank with Business Raja. Give these ideas kick-starter money – or what we call the Leap of Faith fund - of anywhere between USD USD 600-1200 (INR 50k to INR 1L).
Introduce these entrepreneurs to existing government schemes for rural and small businesses.
Empower them to find mentors, partners, and employees from within their own communities and your networks.
Build structured communication channels that helps investors and mentors keep a watch on how their funds are being utilized in these businesses.