The Hindu Business Line : Rural youth in AP bag BYST `business idea' awards

These ideas have come from youth in remotest villages of Ranga Reddy district supplemented with full-fledged business schemes to make the ventures successful.

And these three business ideas were among close to 600 ideas received by the Bharatiya Yuva Shakti Trust (BYST) as a part of a contest for rural youth in 33 mandals of Ranga Reddy district.

Initially, 240 ideas were short-listed for further consideration. A special jury comprising businessmen, social entrepreneurs and bankers selected 10 ideas and adjudged three of them as best business ideas.

Mr Ramchander, a 32-year-old physically challenged youth from Dharmasagar village, won the first prize for vermi compost business idea. The idea for mushrooms farm, submitted by Mr Mahendra (23) of Kismatpur village, bagged the second prize. A youth from Bommireddypalle, Mr Chandraih (34), received the third prize for his business idea on setting up of bakery.

Announcing these details at a conference here on Friday, the BYST Founding Trustee and Executive Vice President, Ms Lakshmi V. Venkatesan, said the bankers have shown interest in funding these three best ideas and few other business ideas short-listed by the committees. BYST is a not-for-profit organisation that primarily assists disadvantaged Indian youth to develop business ideas into viable enterprises under the guidance of a mentor, the main idea being `assisting job seekers become job creators.'

According to Ms Venkatesan, the BYST programmes include supporting youth entrepreneurs from underprivileged sections of society by supplementing financing of up to Rs 50,000 with training, support, monitoring, mentoring and networking.

BYST has so far financed over 1,000 entrepreneurs creating employment for over 10,000 people. The Trust has reached out to another 55,000 young people nationwide through training and signposting initiatives. Nearly five per cent of BYST-supported entrepreneurs have already become millionaires, Ms Lakshmi V. Venkatesan said.

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