Most Programs who are helping
Micro entrepreneurs either do only training no follow up support OR they provide
only market with no mentorship. Navodyami program is a comprehensive program
that responds to entrepreneurs in real time and ensures that enterprise grows.
The overarching goal of creating and nurturing entrepreneurs at the bottom of
the pyramid is to strengthen local economy in rural and peri urban area.
Micro-entrepreneur (by definition are the one who invest less than 5 lakh
rupees in business) to be assisted with credit, mentorship and marketing should
be able to scale her turnover up to 60lakh per year. All of these interventions
are divided into two components-
o Navodyami Mentorship
program -
Encompasses of Rigorous training, regular mentoring, monitoring and
components of product development.
o Navodyami Direct-
Channel to create demand and sales orders for Navodyami’s products to acquire a
sizable market.
In
first component Early stage Entrepreneurs are
invited from rural and peri urban area who have potential to scale their
business are invited through Award competition. Navodyami team does rigorous
outreach to find ‘right’ candidates to recruit in the program.
After receiving application we
conduct a series of workshops and
training covering aspects of Market orientation, market mapping, motivation
mapping of the candidate herself. Through methodologies that combine in field
and off field sessions, several simulation exercises and a direct interface with real entrepreneurs who both challenge and
inspire the candidate we arrive at the second phase of the program.
At this juncture applicants based on their
performance in the training go through a screening. An independent panel of
judge who select the award winners
who then are followed up over 18 months and are assisted to scale their
business. One of the most important
feature of Navodyami is award money, which we have seen has encouraged a large
number of low income people to venture into setting their own enterprise
.Considering that low income group have harder time leaving their limited means
of support to take the risk of starting something of their own. We plan to
continue to provide award money in our Program of 2012-2013 and this also makes
a big part of grant support we seek from you.
At Navodyami works with an understanding
that one strategy would not work for everyone and path to scaling up therefore program
carefully work with each candidate at
every stage of growth including periodic mentorship with successful
entrepreneurs, regular field visits, Turnover tracking, credit linkages are
provided. : So far we sixty candidates received credit
support to the tune of one crore and twenty lakhs. We have ties up with new
age microfinance platforms like Microgram, Milaap.org who have supported
several navodyamis based on the strength of program.
Leveraging DF,s Ecosystem we have developed a group of
mentors who come from variety of sectors who spend quality time mentoring our
candidates. These mentorship sessions have
been very rewarding and are of great value to the Entrepreneurs who is
constantly looking for sounding board, timely advise and at times inspiration
to take the next step.
Second
component and advance mentoring for those who
need help with product development, branding and packaging. Under the Brand
Name of Navodyami we also market and
facilitate direct sales for our Navodyami candidates. It has been very crucial
to provide visibility to locally made products under one brand Name. We have
been able to bring a business of over 15 lakh for many of our candidates in one
year of operation. Navodyami Direct
runs as an enterprise where it source products from micro-entrepreneurs and
helps them get higher sales against a nominal fee. We do this through direct
sales in market, through our outlet and finally through periodic exhibitions. Our intervention in market is to help
new entrepreneurs their first substantive and stable customers beyond which they
can grow their market own their own. We have also been able to help candidate
gain substantive margins as a result of our intervention.
· Network: Navodyami program brings entrepreneurs together and focus is to learn from each other. In the process many of our Navodyamis have connected and supported each other business either through providing their network or clientele to each other business.
· Credit Linkages : More than twenty eight candidates either received credit support or going to receive it in coming days to the tune of one crore and twenty lakhs.
· Innovative ideas get safe haven Most of the selected candidates are first time entrepreneur and opened up cutting edge business such as computer education center, online education franchise, sugar free foods, and high end handicrafts and so on.
· Entrepreneurial Ecosystem : We have observed that other than finance small entrepreneur require a ecosystem, motivation, timely advice, marketing and networking support. Navodyami has geared to provide all these in its next Program of 2012-2013.
· Generates employ ability and employment opportunities: Our estimate is that more than one third of the businesses we have supported in 2011 have hired additional personnel as labor, production manager or technical experts and hence adding to existing employment.