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First generation entrepreneurs have no support system to help them through the process of setting up, running and growing businesses, and often stagnate, eventually closing down. This is evidenced by the 52 million unincorporated Indian non- farm enterprises that do not employ any hired worker. Unemployed individuals in these circumstances either migrate to urban areas or start subsistence enterprises, which starts the cycle all over again. The problem therefore is an acute lack of advisory and capacity building systems to support committed entrepreneurs in setting- up, running and scaling up their businesses.
Maargam will setup district level incubation centers where aspiring entrepreneurs (youths and women) will be identified through a rigorous selection process. These individuals will be supported to:
We will leverage existing and future partners including government agencies for outreach, nonprofits and financial institutions for financing the enterprises, experts for technical training wherever required and other organizations doing similar work to share lessons and multiply impact by setting up and supporting the setting up of DICs across multiple geographies
- Setup and run businesses that have been identified as being socially and economically relevant in the program area OR
- Setup and run businesses of their interest OR
- Grow their existing businesses The support offered is mainly to: - Find business opportunities and evaluate market potential, - Make viable business plans - Build capacities, - Source Capital - Run and grow their businesses to provide local jobs (handholding).