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Avodha Edutech, a technology firm has come forward with an initiative to support the ideas of young entrepreneurs in India.
The initiative proposes to provide a seed capital of ₹1 lakh under the ‘Chalo India Startup Drive’ to help college students realize their new entrepreneurial ideas.
The company aims at channeling ₹12 lakh in 12 months from January to December, in equal instalments of ₹1 lakh each month in this regard.
Support
Apart from this seed capital, Avodha will provide other support to the entrepreneurs including the necessary human resources. The youngsters can avail themselves of the facilities at the offices of Avodha across the country. Avodha claimed that it is for the first time in the country that a new-age firm is promoting startups.
“When Avodha was launched, we found it very difficult to secure the capital for the venture. We struggled a lot to get support in the beginning,” said Joseph E George, CEO. “People whom we approached for support did not respond. Today despite having potential ideas, youngsters are struggling to find the capital to realize their dreams. While encouraging young entrepreneurship through this drive, we aim to boost several bright individuals as well as the economy of the country,” he said.
College students can submit their ideas online and an expert team will select the best ideas. The best idea for January will be selected on February 15 and Rs1 lakh will be handed over to the winning team.
The email id to send the applications is product.head@avodha.co.in .
The last date to submit applications is January 31.
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