What solution(s) does your initiative address to help emerging entrepreneurs and small businesses grow and thrive in underserved communities? (select all applicable)
Access to talent, Access to technology, Access to economic opportunity.
What has been the impact of your solution to date?
- In a span of 3 years over 235 rural youth have been trained and successfully employed
- 9% of the rural youth employed have been successfully groomed to take leadership roles (supervision, training, middle management roles).
- B2R’s team includes more than 51% women.
- 25% of the middle management team constituted by women
- 15 clients in 36 months.
- For every 1 person directly impacted by employment, at least 3 others are being indirectly economically impacted (due to trickle down of purchasing power etc).
- Positive Impact to economic ecosystem
- Enhanced confidence of youth and their perception in the community
- Increased local employment options leading to reverse migration
- BPO services to companies at a significant cost advantage while retaining comparable levels of quality and service delivery.
- Economic growth has resulted in increased consumption in local eco-system.
What is your projected impact over the next 1-3 years?
B2R plans to set 30 new centers with capacity of 60-75 seats each in villages of Uttarakhand (adding centers in several other districts) over the next 3 years in line with its expansion plans to create more oppurtunities for rural youth, thereby creating livelihood for around 2500 individuals.
B2R aims to facilitate integrated development in the region by means of investing 33% of its profits in relevant projects for development of the communities it operates in, in 3 traches - first by profit sharing with teams who've helped create the profits, short term capacity building projects (prioritized by communities) and long term capacity creation (water availability, English training etc), it is our goal to help address many of the fundamental challenges within these communities.
What barriers might hinder the success of your project? How do you plan to overcome them?
The major barriers as foreseen by us are as follows:
1. Risk of not achieving consistent, growing flow of business & not being able to move up the value chain.
o Putting feet on the street—larger sales team
o Open doors both in domestic & international markets
o Focus on long term contracts & service lines aligned to niche areas in key verticals
2. Growth Funding
o Utilize both - Equity & Debt, already engaged in discussions for both
3. Attrition Risk
o Organization Design which creates Fun @ Work and happy teams (daily activities to achieve the same)
o Providing learning, growth options & incentive tied in with tenure & performance
Winning entries present a strong plan for how they will achieve and track growth. Identify your six-month milestone for growing your impact
Sign up at least 3 more long term annuity contracts; and Set up 2 more operations centers each of which will employ 60-70 youth
Now think bigger! Identify your 12-month impact milestone
Engage deeply with local communities that we work within.