With an increasing number of entrepreneurs emerging from tier-2 and -3 towns, the need for a peer-to-peer learning and mentorship platform for entrepreneurs in smaller towns has also become a necessity, said Harsh Mariwala, Chairperson, Marico, and founder of Ascent Foundation.
“We have seen the rise of unicorns and new-age entrepreneurs coming from smaller towns without any business background and it’s just multiplying. Smaller towns have greater need (of a peer-to-peer learning platform) because their ability to get inputs be it a consultant or bridge some knowledge gap is higher than in metros like Chennai or Mumbai,” Mariwala said.
He was in Chennai on Thursday to announce the 10th anniversary of Ascent Foundation. Started by Mariwala in 2012, Ascent is a peer-to-peer platform for growth-stage entrepreneurs, which enables entrepreneurs to share experiences, ideas, insights to learn from each other through self-facilitated trust groups and an extended network of enablers.
It currently has over 850 entrepreneur members under 73 operational trust groups in Mumbai, Chennai and all-India chapters with aggregate annual turnover of more than ₹53,000 crore. The members are split 46:54 between manufacturing and services industries.
“We started the Chennai chapter in 2018 with 25 members and currently, it has 103 members with 25 per cent year-on-year increase in registration,” Mariwala said.
He added that many members attached to the Chennai chapter are from upcoming markets such as Coimbatore, Puducherry, Theni, Salem, Mahabalipuram, Erode and Madurai.
“During Covid, everybody started interacting virtually. So, we saw an opportunity to create virtual trust groups. Currently, we have 150 virtual trust groups, mostly coming from small towns. These members meet virtually every month and once in three months, they will have physical meetings,” Mariwala added.
Ascent is planning to start new chapters in Bengaluru and New Delhi and take the total number of members over 1,000 by March 2023.