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Issue 2 28th October, 2013 Avance Taking a leap forward Inside this issue: Social Entrepreneurs in 2 Energy sector Reasons to embrace 3 entrepreneurship Startup Analysis: Essmart 4 Registration of a business 5 demystified : Series 2 Social entrepreneurship : new 6 models of sustainable social change Meru cabs: how you package 7 it From the diary of an 7 entrepreneur Entrepreneurship, Entrepreneurship, Entrepreneurship. It drives everything: Job creation, poverty alleviation and Innovation Elliott Bisnow P a g e 2 A v a n c e I s s u e 2 Social Entrepreneurs in energy sector– Kumar Kaushal Energy deficit India, espe- ed SELCO (Solar Electric earning entities. He strongly cially the countryside, is in Light Company) in 1995 in believes that solar energy dire need of entrepreneurs Bangalore. It is a for-profit solutions are cheap and af- who could provide sustaina- social enterprise providing en- fordable. For its tremendous ble, affordable and clean ergy solutions and services efforts, SELCO was award- solutions to meet the in- to under served households ed the Ashden Awards in creasing demand of energy. and businesses. SELCO has 2005 and 2007. Mr. Harish This neglected side of de- played significant role in Hande , a winner of the mand is met by a rare breed improving living standards prestigious Ramon Mag- of entrepreneurs like Mr. of rural Karnataka by saysay Award in 2011, Harish Hande and Mr. Gya- providing solutions based challenges traditional man- nesh Pandey, who have de- on solar energy. He aims to agement theories whose veloped novel ideas of gen- dispel the myths that poor applicability in rural areas, erating electricity. people can’t afford and he emphasized, need to be Mr. Harish Hande, an IIT maintain sustainable tech- tweaked to suit the rural Mr. Harish Hande Kharagpur alumnus, found- nologies and that social ven- market. tures cannot be run as profit Mr. Gyanesh Pandey, an elec- Interestingly, HPS has plants" each generating 35 trical engineer from IIT BHU, found the solution to elec- to 100 kilowatts of power. left his job in the U.S. to serve tricity deficit by including Both these social entrepre- his poor countrymen; only to villagers in the solution. Vil- neurs have set a precedent face numerous challenges and lagers are employed by HPS which should be followed failures. Undaunted, he founded in electricity generation. by youth to solve energy Husk Power System(HPS) in As of 2011, HPS served problems of our country. Bihar, where electricity is gener- 150,000 people of Bihar, ated using husk of rice. HPS Tamil Nadu and West Ben- provides end to end renewable gal, using "mini power- energy solutions to rural areas of Bihar. Mr. Gyanesh Pandey Electricity production in HPS plant P a g e 3 A v a n c e I s s u e 2 Reasons to embrace entrepreneurship -Aditya Rajadhyax Entrepreneurship has always been a Be your own boss: The strict hierar- Leave a strong legacy: Most of us dream for many. Everyone wants it chical structure followed in the large wish to create an impact in society but few are bold enough to take this organizations severely restricts our and leave a lasting legacy after us. adventure-ride. Seeing the risks and opportunities. Entrepreneurship lets Entrepreneurship provides just the challenges involved versus the peace you become the CEO of our firm right opportunity to do so. Steve Jobs of a secure job, most choose the from day one providing ample scope and Dhirubhai Ambani among others latter. But for those who decide to to express your talents and abilities. managed to achieve it with their ac- complishments. I would like to con- take on the journey of entrepreneur- Creative Freedom: Entrepreneurship clude with the words of Steve Jobs ship, life becomes extremely reward- allows you to escape the daily grind that reflects the mindset of entrepre- ing. So, here are some reasons why that comes along with a job. entrepreneurship is truly awesome: neurs “Your work is going to fill a The variety present in managing the large part of your life, and the only Living your passion: Entrepreneur- various aspects of the business makes way to be truly satisfied is to do what ship instills a unique confidence to each day full of excitement and ad- you believe is great work. And the follow your dreams and live an in- ventures. only way to do great work is to love spired life. Everyone wishes to do what you do. If you haven't found it what one really loves but most over- Maximize your potential: Entrepre- yet, keep looking. Don't settle.” look the hidden opportunity that neurship is full of challenges but the entrepreneurship provides to do so. challenges itself are highly rewarding. When you are an entrepreneur living These blessings in disguise enable you your passion, each day and each to strengthen yourself and evolve in hour is filled with enthusiasm and a many ways. sense of purpose. Dealing with failures: Failure is al- Leaving the rat race: With the cur- ways a part of life. When you choose rent competitive environment, life to reach for the starts you may fail starts to become a rat race right several times. But fighting for your from an early age. Starting from dreams is what makes life meaningful. school, trying to consistently excel in Entrepreneurship teaches you that the academics to competing with others secret to life is to fall ten times but get to attain the most glamorous jobs, up eleven times. Bring your ideas to this race never ends. Entrepreneur- life: Entrepreneurs are visionaries. ship is a way to get out of the herd They are artists of the modern world mentality, get real about what you who have the courage to dream as really want in life and pursue it well as bring their ideas to life. wholeheartedly. P a g e 4 A v a n c e I s s u e 2 Startup Analysis: Essmart–world’s essential technology in every local shop -Arun P Entrepreneurship and innovation pollution. However we find that these looking at their numbers. are critical for the growth of any technologies do not benefit people at economy, in an increasingly com- a large scale. Jackie Stenson of Cam- petitive world. The Industrial Revo- bridge and Diana Jue of MIT felt that lution, the rise of the US to its these technologies should reach the preeminent state, the recovery of people whom they were really meant Germany post-World War, and for. They studied the rural markets in more recently, Israel’s status of a Africa and in India for more than developed economy have all been three years and framed the concept of driven by entrepreneurship and in- Essmart. Essmart bridges the gap novation. They become even more between the technology manufactur- critical for India as its demographic ers and the households that need their Sundar, who owns a barber shop dividend can only be realized with products by creating a marketplace in pusaripatti is making use of rapid creation of employment and for these products in local retail Essmart-distributed Solar lantern income generation opportunities. shops. They do this by placing a cata- at night. This demonstrates how According to Kauffman Founda- logue of products at the community Essmart-distributed essential tion, a well-regarded research body level, distribute to local retail shops, technologies can immediately in the US, “On an average, existing and facilitate manufacturers’ warran- improve small businesses by ena- firms are net job destroyers. By ties. They are combining what has bling commerce at night. contrast, new, less than one year old worked in every market economy firms add on an average 3 times with pre-existing trust based buying Essmart connects the global sup- more jobs than the existing firms in relationships. They help these local ply chain by creating an essential the US”. Hence it is time to move retail shops to grow their business technology marketplace in local towards developing and nurturing and also enable technology access for retail shops, allowing shop own- entrepreneurship ideologies among their customers. ers to give their customers like the Indian youth. This concept received the global Dell Amala access to essential technol- Essmart: The technology Social Innovation Award for 2012. ogies. Essmart pledges to address With the help of the funding that they social needs by creating sustaina- Distribution company received from the award, Jackie and ble business solutions. It is time Many Organizations design life- Diana started their operation in Au- for the Indian youth to support improving technologies for the gust 2012. Essmart was launched in and indulge in similar initiatives world’s low income households. the town of Pollachi in the state of as it promises a sustainable and Technology can bring a lot of Tamil Nadu, India. inclusive growth. benefits to the humanity, espe- Essmart has a network of 70 stores cially to the people who do not Jobs are created by Entre- today and their catalogue has more have access to the basic needs, preneurs. Wealth is created than ten different types of life im- people who do not have access by Entrepreneurial actions. to lighting, who do not have proving technologies in it. They have access to clean water or a safe made more than a thousand product cooking environment. There are sales in a period of one year. The im- existing technologies, things like pact of Essmart is better measured LED solar lanterns, affordable by the improvement that these tech- water purifiers and cooking nologies bring about in the lives of its stoves that reduce indoor air customers and small business owners P a g e 5 A v a n c e I s s u e 2 Registration of a business demystified : Series 2 – Adish Jain In the previous article, which obvi- 2.No suits to enforce a right arising Date on which each partner ously you have read, I mentioned from a contract shall be instituted in joined the firm any Court by or on behalf of a firm about the various entities under Name in full and permanent which a business can be registered.
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