Innovation, Creativity, Entrepreneurship, Start-Up, Incubation Centeretc. are the buzzwords these days. There seems to be a big wave of government and investor support for start-ups. While this is an appreciable trend, the whole eco system is aimed at strengthening existing market economy. Start-Ups are trying to imitate Silicon Valley kind of entrepreneurship based on the tag line “Come with an idea, go back as millionaire”. Cracks have already appeared in the market driven economic model with many countries such as Greece, Spain, Portugal and Iceland going broke. A fifth of the world population is still living in abject poverty, income inequalities are at an all-time high. Most importantly, if the whole world follows the lifestyle of the developed world, we would need a few more earths to satiate the demand for natural resources. Even Governments which do not believe that market is the ultimate solution for human problems, do tend to promote market driven entrepreneurship, probably because of lack of alternates. Bougainvillea is the attempt to create an alternate model of entrepreneurial eco system wherein societal issues drive technology and business. A society driven economic model in lieu of market driven one! In the current scenario, socially responsible ventures have a great role to play in tilting the economic balance towardsmore sustainable businesses and lifestyle. To create a more equitable and sustainable world, it is imperative to incubate and promote such businesses.
The free market model of development depends on the market to solve human problems, but lack of resources and home-grown expertise restrict the markets in developing countries from developing products and systems that they need. As these countries are mere markets for products from the west, they just do not have any control on the market cycles, resulting in highly unstable economic cycles for the country and unstable income streams for the population. Farmer suicides and mass entrenchment in outsourcing industry are apt examples of this phenomenon. When developing world enter developed markets with products and resources that could cost local jobs, one could witness a wave of protectionist measures being undertaken by developed countries. In a nut shell, developed countries promote market economy when they are at advantageous position and denounce the same when the balance tilts against them. Also, promoting consumption as the tool to improve economies has been the most disastrous trend that causes environmental destruction of unresolvable proportions and depletion of societal values.
Barring streaks of advances in space research, automotive parts manufacturing and IT services, India has not made any significant strides in indigenous technology development. To improve quality of life of its population and to ensure sustainable growth of its economy, agriculture and industry, India needs to develop and nurture indigenous technology talent.
Create a sustainable businesses model by promoting socially responsible enterprises.
Identify, evaluate and incubate socially responsible ventures. Provide guidance in building, operating and maintaining such commercial ventures.
|Salient Feature||Socially responsible Organisation||Normal Organisation|
|Objectives||Serving the needs of the society||Purely financial|
|Products||Focus on developing indigenous solutions||Promote any products that provide returns|
|Ownership||Owned by all stakeholders||Promoter and funding agency|
|Exit||Build to endure||Treats organisation like a commodity up for sale at right price|
|Values||Principle driven||Depends on leadership|
|Educational interface||Aims at bridging the industry-education gap||Looks at recruiting crème layer from select colleges|
Funding against stake in the venture and legal agreement incorporating conditions to honour the Bougainvillea (BV) vision. Up to 10 lakhs of seed funding would be provided based on accepted milestones.
Prospective entrepreneurs shall submit detailed venture proposals to the BV program. The proposals shall be evaluated in terms of selection criteria.
Alumni and students of professional educational institutions, NRI professionals who want to settle back in home land, innovators, self-help groups and co-operatives are welcome to apply. In addition, subject matter experts among the above groups are encouraged to become foundation members.
BV shall assist in taking the products/services of incubated ventures to domestic & international markets.
Incubated ventures can draw Management and Technical support from BV Foundation members. Periodic review and monitoring process would be established.
BV intends to develop a crowd funding platform to support incubated ventures to meet their funding needs in the growth curve.