Social Entrepreneurs Make a Difference
Wednesday, October 17, 2007
Bringing water to the parched fields of Brij Wasan right on the outskirts of Delhi, is a project that has converted dry patches of land to acres of fertile soil.
And with it changed the lives of over 450,000 farmers. All is happening out of a posh south Delhi office of Amitabha Sadangi, CEO, International Development Enterprises.
It’s one of the many projects by India’s social entrepreneurs that’s using the international interest in the Indian economy to effect social change.
“We came up with a technical solution – drip irrigation in the south and west of India where there is water scarcity. By cutting down cost, people can buy it at a cheaper cost. Also productivity of the crop is much better under this system. We came up with a technology called a treadle pump which helps the poor to be water-independent,” he said.
Entrepreneurs like Sadangi are raising money from international private equity investors.
Just in the past three years his company raised $6 million from the international market.
International private equity fund Sequoia recently invested $11.5 in Hyderabad based SKS Microfinance.
But the recognition’s not just monetary. Both Indian and international agencies like the Geneva-based Shwab Foundation are also recognising the work done by Indian entrepreneurs.
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