BYST’s Mentoring India® Programme is a step in the right direction for Maharashtra and India says Nawab Malik
BYST and HDFC Bank partner to launch Nurturing Grampreneurs® for Sustainable Growth programme for Maharashtra
Mumbai, 21 Dec 2021: BYST (Bharatiya Yuva Shakti Trust) and HDFC Bank hosted a virtual event on 21 Dec 2021 to formally launch their partnership to promote youth entrepreneurs from rural areas of Maharashtra.
The event focused on showcasing the impact such partnerships are bringing about in the lives of young entrepreneurs.
The event witnessed distinguished speakers from the industry and government highlight key aspects of entrepreneurship and the importance of mentoring to run a successful business. Eminent personalities included Mr. Nawab Malik, Hon. Cabinet Minister for Minority Development & Aukaf, Skill Development & Entrepreneurship, Government of Maharashtra, Ms. Manisha Verma, IAS, Principal Secretary, Govt. of Maharashtra, Ms. Nusrat Pathan, Head, Corporate Social Responsibility, HDFC Bank Ltd., Mr. Subodh Bhargava, Chairman, BYST & Former Chairman, Tata Communications, Ms. Lakshmi V. Venkatesan, Founding and Managing Trustee, BYST, and Mr. C. P. Tripathi, Chairman – National Advisory Group, BYST & Advisor – Corporate Social Responsibility, Bajaj Auto Ltd.
The event kick-started with participants witnessing success stories of three entrepreneurs based out of Aurangabad and Pune who were mentored under BYST’s Mentoring India® Programme.
Emphasising the role BYST has played in increasing youth participation in entrepreneurship and the economy as a whole, Mr. Subodh Bhargava, Chairman, BYST & Former Chairman, Tata Communications spoke about the importance of BYST’s Mentoring India® initiative – “BYST initiative brings together renowned mentors with vast experience. Apart from imparting skills and funds to start an enterprise, a lot more focus is required to be placed on guidance, and handholding by experts is critical to create great entrepreneurs and successful enterprises.”
Ms. Lakshmi V. Venkatesan, Founding and Managing Trustee, BYST added, “Crorepatis do not come from urban areas, crorepatis need not be identified, educated and mentored from the ground up. We have helped numerous young people from remote villages of rural India become entrepreneurs since the inception of BYST nearly 30 years ago. Entrepreneurship and education have no direct correlation. You must have business literacy and acumen, not necessarily a college degree.”
Talking about expanding the BYST footprint in Maharashtra, Ms Venkatesan added, “BYST has reached out to more than 3 lakh youth in 3 districts – Pune, Aurangabad and Wardha. Our programmes have created over 3,120 entrepreneurs who have generated 1.50 lakh jobs. With support from HDFC Bank, we have expanded our work to three more districts – Kolhapur, Satara and Sangli and aim to create 500 more entrepreneurs in the next three years.”
“In the next 5 years, we aim to create 10,000 mentors, that is 300 each per district. These mentors will be trained to support 30,000 entrepreneurs, who in turn are expected to create 16 lakh jobs in Maharashtra,” emphasised Ms. Venkatesan.
Resonating these views Ms. Nusrat Pathan, Head, Corporate Social Responsibility, HDFC Bank Ltd. said, “The BYST-HDFC Bank programme has indeed made a mark in a short period of four months. We have been able to reach out to more than 10,000 disadvantaged youths and 35 such youth are supported and mentored by BYST. An equal number of proposals are in the various banks awaiting loan disbursement.”
Commending the importance of amalgamating Mentoring with Entrepreneurship, Hon’ble Cabinet Minister, Government of Maharashtra, Shri Nawab Malik said, “A model like BYST is the need of the hour especially when we are addressing one of the biggest challenges for any developing country – unemployment. A lot more focus is required on providing guidance and handholding by experts in order to create thriving entrepreneurs. BYST’s Mentoring India® Programme is a step in the right direction for Maharashtra and India.”
He further invited BYST to explore areas where they could assist the Maharashtra Government to expand the footprint of entrepreneurship in Maharashtra.
During a video call, BYST felicitated award-winning entrepreneur, Ms. Amruta Mangale. Ms. Mangale hails from Pune and is one of the many examples of BYST supported Grampreneurs®. She competed with over 1,000 entrepreneurs from 54 countries to win the prestigious ‘Young Entrepreneur of the Year’ award, conferred by Youth Business International (YBI), UK.
The event also showcased a live ceremony during which Ms. Pallavi Korgaonkar, Chairperson, Strategic Committee, BYST Kolhapur and Dr. Kshama Kulhal, Dean, D Y Patil College of Engineering and Technology exchanged an MoU to launch a partnership for identifying and training new mentors under the flagship programme Mentoring India..
To signal the commitment to nurturing young entrepreneurs in rural Maharashtra, dignitaries attending the event flagged off the BYST Business Idea Contest. The Business Ideas Contest is a unique idea introduced by BYST to raise awareness and ignite the spirit of entrepreneurship. It aims to encourage the youth to produce creative and viable business ideas that can help to establish successful, dynamic micro-enterprises. A certificate of appreciation and cash prizes worth Rupees one lakh will be awarded to the winners. All the other potential entrepreneurs will be further supported by BYST through regular counselling and training.
Expressing her gratitude to BYST work in Maharashtra Ms Manisha Verma, Principal Secretary, Govt of Maharashtra said, “I am fascinated with your model of mentoring and raising capable entrepreneurs. You are doing a great service to Maharashtra. It would be great if we can explore areas where BYST can contribute to Maharashtra government’s entrepreneurship development programmes.”
Mr. C. P. Tripathi, Chairman – National Advisory Group, BYST & Advisor – Corporate Social Responsibility, Bajaj Auto Ltd. said, “The BYST model is a sound, proven approach to identify and nurture entrepreneurial talent amongst India’s youth. I would like to invite HDFC Bank Parivartan project to further expand the partnership with BYST across Maharashtra and other states where we have established a mentor-mentee ecosystem.”
Further, BYST facilitated the distribution of loan cheques from our banking partner, Bank of Maharashtra to two new entrepreneurs – Rupees 1.95 lakh to Ms. Supriya Kasar, Owner of a Women’s Apparel and Cosmetics Retail Store in Kolhapur, and Rs. 10 lakhs to Mr. Sunil Kadam, Owner of a Flour Mill business in Sangli.
About BYST (Bharatiya Yuva Shakti Trust)
BYST is a not-for-profit organisation that primarily assists disadvantaged Indian youth in developing business ideas into viable enterprises under the guidance of a mentor. Inspired by HRH, The Prince of Wales, and founded in 1992, Bharatiya Yuva Shakti Trust is the first organisation to replicate the Prince’s Trust’s youth entrepreneurship support model globally outside the U.K. The Confederation of Indian Industry (CII) is our strategic partner.
The programmes include supporting underprivileged young entrepreneurs by supplementing financing based on the requirement assessment done by the mentor selectors, Rs. 5 lakhs being the present average and with an upper limit of Rs. 100 lakhs. They are also supported with a host of business-related activities such as training, business plan development, monitoring, mentoring and networking. The young entrepreneurs are nurtured till they reach a level where not only are they self-sufficient, but they, in turn, make a valuable contribution to society through the creation of wealth and employment.
For more details, please visit https://www.bystonline.org/.
Alternately, please call: Mr. Ashish Khairkar, BYST Pune Office at +91 – 95818 53094.
About HDFC Bank Parivartan
HDFC Bank Limited is one of India’s leading banks with over 5,600 branches, 2,900 plus ATMS/Cash Deposit & Withdrawal Machines across more than 2,900 cities. About half the bank’s branches are in semi-urban and rural areas. Additionally, the bank has over 15,900 business correspondents, which are primarily manned by Common Service Centres (CSC). As a socially responsible corporate citizen, the Bank has impacted the lives of over 8 crore individuals through Parivartan its umbrella brand for social initiatives. The Bank spent Rs 634. 9 crores on CSR in 2021.
At HDFC Bank we are helping to transform the lives of millions of Indians through our social initiatives. These initiatives come under the umbrella of ‘Parivartan’, and they aim to contribute towards the economic and social development of the country by sustainably empowering its communities. Parivartan has been a catalyst in making a difference in the lives of people through its interventions in the areas of rural development, education, skill development and livelihood enhancement, healthcare & hygiene, and financial literacy. With a lot already done, the bank continues to bring about the change keeping with its philosophy of Sustainability and Innovation.
For more details, please visit www.hdfcbank.com/csr.