New Venture capital ‘Avishkar”

yugasini By yugasini, 2nd Mar 2011 | Follow this author | RSS Feed | Short URL http://nut.bz/26001f1r/
Posted in Wikinut>Business>Investment

Avishkar a new company of Vineeth Rai of Utter Pradesh, he is funding venture capital to micro and small enterrise in village and small towns

Avishkar a venture capital

Some Ten years back Vineeth Rai is worked as an officer in Village Development board, one day a entrepreneur came and informed about a new business task and asked to sanction a loan of ten thousand rupees, Veneeth Rai shown interest on the business proposal submitted by the enterpreneur, but he could not help that enterpreneur , on those days, the bankers also does not support him, he felt about that this.Vineeth Rai is from Utter Pradesh , studied his Post Graduation course in “Indian Institute of Forest Management”,and joined in a paper mill in Orissa state, there he observed keenly the village atmosphere , after three years he resigned for his job, and he joined as head of the Project, which was started by the Govt of Gujarat to encourage the new enterpreneurs, his duty is to encourage the business people with necessary funds to their business, some times it is difficulty to pacify the bankers in sanctioning the loans, if the business is related to Economic Development ,it is more difficulty to get the loan from banks, then he thought severely and wish to started a “Social venture Fund”,to concentrate on micro and small enterprise

In the year 0f 2001 , he contacted the Non resident Indians Business community at Singapore and informed about his new Social venture Fund. If any one come with business thought, helping with capital and asking some share in the business or arranging loans with nominal interest, besides that teaching managerial skills, and experts advice and know how in those concerned fields. The thought of Vineeth Rai created some interest in them and accepted by the those NRI’s from Singapore, with their help and with a capital of 5 million rupees, he started “Avishkar”, Vineeth Rai is saying that in last decade we have learned how to earn money, now we have learn how to distribute the wealth to all, he also wishes earning and wealth distribution both at a time.

Avishkar is concentrating on companies which are creating employment opportunities to the people in villages and small towns. Mukundan from Chennai invented a new stove burner with 27 percent less consumption of Kerosene than the regular stove burner, there is good market to this product, but he does not have enough money for his new venture ,Vineeth Rai know about this product and arranged funds .with a capital of 1.6 million rupees, the “Servols Automation” was started, Avishkar invested .8 million rupees in this venture with 40 percent share, Vineeth Rai not only supported with funds ,he also supported Mukundan in marketing also. Initially the Servols burner costs more than rs 30.00 of the other regular burners, so for first 6 months no body shown interest in these Servols burners ,then they have decreased the Servols burner rate with a modified material and design, then they have proved that by using these new Servols burner one family can save rupees 150 per month, from then onwards they can sell 70 thousand burners and five thousand stoves monthly, the have made arrangement of marketing their product in abroad also, they have started this project in the year of 2002 with a span of one year they achieved the turnover of 13 million rupees ,besides that he full filled his desire to help the poor.

Till now Avishkar was ventured more than 22 companies with 1800 million rupees , in those 22 companies 17 companies are established in village areas, and they have planned to venture of 10,000 million rupees by next financial year stated by Vineeth Rai

Tags

Banks, Capital, Economic Development, Employment, Enterpreneur, Enterprise, Funds, Help, Micro, Small

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author avatar yugasini
ii am the person ,i help friends according to their need ,if i have that stuff with me,i am sincere,straightforward,trustworthy person

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Comments

author avatar Rathnashikamani
3rd Mar 2011 (#)

Good venture!

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author avatar muthusamy
3rd Mar 2011 (#)

I would like read more posts like this. Thank you for the share.

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author avatar yugasini
3rd Mar 2011 (#)

hi Rathnaskihmani,

thanks for the comment,have a nice day

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author avatar yugasini
3rd Mar 2011 (#)

hi muthusamy,

thanks for the comment,you can find these types of posts in my list of posts,have a nice day

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author avatar yugasini
17th Mar 2011 (#)

hi iris,

thanks for the comment,have a nice day

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