BiD Challenge India 2007: Awarding Entrepreneurship for Development
Wednesday, October 17, 2007
Jointly organized by the Business in Development (BiD) Network Foundation and Intellecap, the BiD Challenge India 2007 business plan competition awarded six amazing entrepreneurs who are making a difference and rewriting the rules for running profitable enterprises for development.
From Business Wire India:
Being the only business plan competition in the country with a primary focus on the problem of limited financial access to the small and medium enterprises (SME) segment, it comes as no surprise that the Business in Development (BiD) Challenge 2007, received such an astounding response. The competition challenges entrepreneurs to develop and execute business plans that generate profit and support poverty reduction.
The India operation is part of the worldwide BiD initiative and was launched for the first time in India by Intellecap. Jointly organized by the Business in Development (BiD) Network Foundation and Intellecap, the business plan competition recognized the most innovative, sustainable, investment-worthy enterprises in start up and established categories. In an Awards Gala on October 12, 2007 at The Leela Kempinski, Mumbai, the competition recognized and awarded six amazing entrepreneurs who are making a difference and rewriting the rules for running profitable enterprises for development.
Winners of BiD Challenge India 2007
Mobile Medics Health Care (http://www.mobilemedics.net), a start up venture started by two young and dynamic management graduates won the GTZ-sponsored 1st Prize of INR 3 Lacs. Their idea aims to provide high-quality affordable, primary healthcare in rural India through mobile vans. Wonder Grass, won Rabo India Finance sponsored 2nd Prize of INR 2 Lacs for its innovative business idea of a one-stop shop for all bamboo applications. The plan has already generated interest among various quarters of the world especially for rehabilitation and disaster relief purposes. Samruddhi – A Rural Retail Chain, with an aim to improve accessibility and engagement of innovative products for rural consumers, won the third prize of INR 1 Lac.
In the established category, Vaatsalya, which intends to eliminate the gap in health inequity by creating India?s first network of hospitals, won the 1st prize of INR 3 Lacs. Through BiD Challenge India 2007, the winners aims to attract investments that will help them scale up operations and diversify into new areas. The second prize of INR 2 Lacs went to Suminter Organics, a company that works for the upliftment of farmers via organic farming practices. Desicrew Solutions, a young team from IIT Chennai, won the third prize of INR 1 Lac for their socially-motivated business outfit that connects global clients with low-cost BPOs in rural India.
Appreciating the BiD Challenge India platform, the 1st prize winner in established category, Ashwin Naik of Vaatsalya remarked that this competition gave him and his enterprise ?the benefit of connecting with people working in the same area.” According to Kavikrut, the prime promoter of Mobile Medics, the online competition platform ?opened doors to serious information exchange, sharing of learning and experiences.”
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