New Delhi: The non-profit Bharatiya Yuva Shakti Trust (BYST) has tied up with the Dalit Indian Chamber of Commerce and Industry (DICCI) to financially support and mentor members of the scheduled caste and tribes who aim to be successful entrepreneurs.
Started in the 1990s by Lakshmi Venkatesan, the BYST signed a memorandum of understanding (MoU) to extend credit, training and mentoring help to small and medium-sized enterprises led by Dalits.
The MoU was signed at DELNET (Developing Library Network) at the Jawaharlal Nehru University on Friday in view of the ongoing Dalit History Month.
In the next three years, the collaboration aims to empower 5,000 Dalit entrepreneurs to become job creators; 20 percent of which would be women. They will be counselled by BYST’s network of mentors and mentor clinics on basic concepts of entrepreneurship, banking practices, customer relations, account keeping, project preparation and soft skills in the art of selling etc.
“The Dalit community still faces challenges due to discrimination, hindering their pursuit of high-paying jobs and business opportunities,” said Lakshmi Venkatesan.
She stated barriers like limited access to capital, resources, and lack of mentor support have hindered their success. “Eradicating caste biases is crucial for nurturing an inclusive economy.”
Meanwhile, it is a historic moment for DICCI, which has been promoting entrepreneurship among Dalits for 17 years now. “Dalit entrepreneurs, at grassroot level, need to be supported, and empowered,” said founder chairman Milind Kamble. According to him, this partnership would accelerate economic growth, and bring out the potential of the SC entrepreneurship for sustainable inclusive development.
DICCI aims to instil the spirit of entrepreneurship among SC-ST youth and entrepreneurs to develop business leadership. Its philosophy is to “Be Job Givers”.
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Money and mentoring
Under the collaboration, the two organisations will also extend credit linkages and mentoring support to 250 Dalit youth with the average loan ticket size of Rs 4 lakh per individual.
The access to credit will be provided through BYST’s network of lending partners like Bank of Baroda (BOB), Indian Overseas Bank (IOB), Indian Bank, IDBI, State Bank of India and Central Bank of India.
“We aim to create two lakh mentors, who will support one million entrepreneurs, who in turn will create 50 million jobs. Now we want at least 25 percent of it to come from the SC and ST community,” Venkatesan said. However, her core objective is to embed “mentoring” into the institutional framework of India. Her vision stands on two pillars – money and mentoring
“NPAs (non-performing assets) of banks are very high, especially for the micro sector, hence they are not willing to lend money. On the contrary, we have showcased how giving the right amount of capital at the right time can change the story,” she told ThePrint.
Mentoring is not just synonymous with tech ventures in Bangalore, Gurugram, Bombay, Hyderabad and Pune, but is a fundamental concept of ancient India brought forward, Venkatesan said. She intends to change the mindset of the requirement of micro entrepreneurship in the country. Since 1992, when BYST was started, she has touched the lives of over 40,000 entrepreneurs.
Sunita, a 36-year-old entrepreneur, who came all the way from Khedi village in Haryana’s Mahendragarh district, expressed her delight over the MoU. Sunita has been associated with BYST for two years now and runs a successful sewing boutique in her village.
“This boutique shop runs my house, funds my children’s education and above all has inspired my husband to quit his job and pursue entrepreneurship,” she said. There are many more Sunitas in Khera village, who don’t get the opportunity to move forward in life due to caste restrictions. “With the DICCI and BYST union, they will now thrive,” she said.
Both DICCI and BYST are working to accomplish B.R. Ambedkar’s vision of economic empowerment through self-help and entrepreneurship. While they have been unofficially working together for years now, an official collaboration was long pending.
The MoU stated the two organisations would work together in various areas, including raising awareness and promoting entrepreneurship in DICCI’s operational areas through a network of mentors and clinics.
BYST will train young people referred by DICCI and help them start their own businesses, including assistance with bank connections and mentorship. DICCI-supported Dalit entrepreneurs can receive training from BYST in sustaining entrepreneurship and green business. BYST will also help DICCI establish an entrepreneurship ecosystem in educational institutions and incubation centres.
Additionally, BYST will provide mentor training and development for DICCI officials and faculty, including assessment, practical training, webinars, networking, and certification.
(Edited by Tikli Basu)
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