Aakash left his cushy job at a renowned IT firm to hone his skills in automobile design and rendering. He had had his corporate job for close to 7 years! The change was drastic and he was finding it difficult to cope and adapt to the new entrepreneur ecosystem which was not only competitive, but required long nights and more cups of coffee than otherwise.
But beneath all the chaos of his entrepreneurial duties, Aakash secretly enjoyed it!
India is a young country with almost 65 per cent of the population in the age group of 25-35 years. As per a NASSCOM report, India currently has 3100 startups in the technology product and digital space and is the 3rd largest startup ecosystem globally adding 800 startups annually. By 2020 there would be more than 11500 startups, employing over 2.5 lakh people. The top six locations accounting for 90 per cent of start-up activity in India are Bangalore (28 per cent), Delhi-NCR (24 per cent), Mumbai (15 per cent), Hyderabad (8 per cent), Pune (6 per cent) and Chennai (6 per cent).
However, though the future for startups seems bright, also owing to the positive outlook of the government towards change and in promoting entrepreneurship, many-a-times startups don’t make the best decisions when it comes to financing.
Crisp Social Ventures India (CSVI), an Oxford Chevening Alumni association, is determined to support projects and ideas with a social angle thus endorsing social entrepreneurship in India by mentoring and incubating startups. Social entrepreneurship is the development of innovative solutions to society’s problems. It involves tackling major issues with revolutionary concepts which not only educate or employ the individuals, but also empower them to start such ventures of their own!
CSVI is currently supporting a sustainable housing project, ‘Powerhouse’, which is a collaborative mission to design and conceptualize a house, and the process of enabling such a solution to the potential end users. The house will be powered by renewable energy resources, namely wind or solar. The house will be able to generate excess power, which will be sold back to the grid or local community thus generating income for the occupants.
This holistic solution coupled with the diverse and inclusive entrepreneurial landscape in India is what can help generate solutions for the otherwise, neglected portion of society.
A global competitive bid has been launched for interested consortiums and individuals to actively participate and submit expressions of interest. Applications can be submitted at www.power-house.in.
Watch the introduction to PowerHouse here.