Saturday December 14, 2019
Home Business India’s...

India’s garbage turns out to be Goldmine for Foreign Investors: Here is How!

Microfinance provides women from low-income groups funding for which they get comparatively quick results

0
//
widespread garbage on the streets~pixabay
  • Severe problem of garbage disposal and widespread scrap on the streets
  • ScrapApp,a startup aims at recycling the garbage trash from other waste
  • Startups get most of their funding from overseas  investors,the concept of social entrepreneurship still unknown to Indian population

MUMBAI, 24 SEPTEMBER, 2016: ScrapApp founded in 2015 is an app which helps the customer find out what their scrap is worth. It’s an initiative to make Indian streets clean  and bearable to walk on by recycling the garbage. Masked workers from ScrapApp daily separate the recyclable debris from the trash at DLF Mall, the largest mall in India giving the startup a kick in their business.

Vidhur Bakshi, 27, CEO of ScrapApp said that they get most of their funding from foreign investors because social entrepreneurship isn’t  yet popular in India.Other startups have mutual opinions on this matter.The reason behind this is that even if Indians do invest, they expect breakneck returns, mentioned HuffPost report.

The Scrap App. Twitter
The Scrap App. Twitter

Follow NewsGram on Facebook

The Global Social Entrepreneurship Network (GSEN) and UnLtd, foundations for social entrepreneurs when carried out a poll found out that the lack of awareness of the public about social entrepreneurship and funds made it challenging for them to make the move and grow their profit,non-profit business.

Though a difficult task, but some startups which have helped people have access to water,sanitation etc have helped in easing the task of finding investors and thus more and more businesses are ready to fund this sector,a sector that which targets at bringing renaissance in the society and mindset of people,a society where recycling garbage is not included as a part of formal sector

Follow NewsGram on Twitter

India comes under one of the countries(other than Canada,Singapore,The United States) where it is easiest to access investment.Experts claim that India can play a significant role in developing the domestic lives as well as use similar business ideas in bettering the social conditions in Africa.

Anurag Agrawal, CEO of Intellecap  told the Thomas Reuter’s Foundation that if an enterprise invests in a startup which is backed by a professional team and focused funds there are no chances of the investors suffering a loss. On reviewing many Indian startup Ceo’s, their views on this topic was that nations like the USA and Singapore are eager to  provide financial help to Indian startups focusing on societal development.

Experts say that there is one sector where the Indian enterprises are keen on investing- microfinance. Microfinance provides women from low-income groups funding for which they get comparatively quick results. Some of the top microfinance institutions are-Annapurna Microfinance Pvt Ltd, Arohan Financial Services Pvt Ltd etc.

Since the masses are adopting a change with growing awareness of the new generation so is the perspective of the investors who are gradually wishing to help the Indian startups who are trying their best to light a candle  for a better society.

–  prepared by Ashwati Menon of NewsGram. Twitter: @Ashu_phoebe

 

Next Story

Facebook Commits $130 mn to Build Global Oversight Board for Ensuring Accountability

Facebook intends to continue funding the board's operations in the future, and these reports will be used to assess the need for additional, substantive and long-term funding

0
Facebook
Facebook said it has established the independent Oversight Board Trust to ensure the board can safeguard its ability to make independent decisions and recommendations. Pixabay

Facebook has made an initial commitment of $130 million to build a global oversight board that will ensure good governance and accountability across its services and platforms.

The initial funding will cover operational costs such as office space, staff and travel expenses and should allow the board to operate for at least its first two full terms, approximately six years, Brent Harris, Director of Governance and Global Affairs at Facebook, said in a statement.

The board will submit a yearly budget to the trust for approval and disbursement of funds.

Annual reports from the board and trust will help to document the health and effectiveness of the board, including its stewardship of these resources.

Facebook intends to continue funding the board’s operations in the future, and these reports will be used to assess the need for additional, substantive and long-term funding.

Last November, Mark Zuckerberg wrote about his vision for what content governance should look like for Facebook.

Facebook said it has established the independent Oversight Board Trust to ensure the board can safeguard its ability to make independent decisions and recommendations.

Facebook
Facebook has made an initial commitment of $130 million to build a global oversight board that will ensure good governance and accountability across its services and platforms. Pixabay

“The board will have its own staff, independent from Facebook. To start, we expect this staff to include a director, case managers and dedicated staff members (or contracted services) who can support things such as the board’s communications, legal, human resources and research needs,” said Harris.

ALSO READ: Google Maps Captures Over 10 mn Miles of Street View Imagery

In addition, said Facebook, it will continue to work with outside experts to source and review candidates for board membership, including those who’ve been recommended through the public portal, which we opened in September.

“We are eager to see the Oversight Board take shape and start hearing cases next year,” said Facebook. (IANS)