I am sort of convinced that Microfinancing is the way to grow entrepreneurs in India. May be we will need some variations of pure Microfinancing – like how www.prosper.com is doing; people-to-people financing.
We certainly need innovative ways and means of achieving new economics for our rural areas. Liberalization of Manmohan Singh era was certainly great – it gave us tremendous exposure. I personally don’t think I would have been in this position if liberalizations had not taken place!
Microfinancing has a charitable angle. It is targeted towards improving quality of life by lending small amounts of loans with specific parameters. Though the business of Microfinancing is profitable, the value that this creates for entrepreneurs is less.
The variations of this could be micro-investing. Why not people directly invest in venture ideas and get equity? Why not create a micro-private equity place virtually?
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2 comments:
Hello,
If you like Prosper, thought you'd love www.kiva.org - it's a prosper, but for microfinance.
thoughts?
Hey, is the site down?
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