Venture Intelligence Blog highlighted a profile done in Business Today on Rural Innovations Network (RIN) — a NGO that assists entrepreneurs outside the cities bring their ideas to market. The primary sector of interest for the NGO are water, agriculture, dairy and energy, although they are willing to look at others on a case-by-case basis.
RIN operates as a full-service consultancy and advisory firm that assists these rural innovators from the earliest stages of product development. However, to describe them only as consultants does not fully encompass the scope of the NGO’s work.
RIN’s role was anything but simple in translating ideas to reality. “We had to first search for the innovators, identify those innovations which could work. Then we realised that we needed the resources to incubate them, before we help with patenting and technology transfers.” Also, the small and medium enterprises (SMEs) that undertake the manufacturing of the product themselves wanted help after the technology transfer for the initial sales push. “In such cases, we find venture capitalists that could partner the entrepreneur and sometimes ensure that the retail buyer has enough money to acquire the product,” [Paul Basil, RIN’s Founder & CEO] Basil points out.
The entire BT profile can be found here.
Filed under: Agriculture, BoP, Energy, Health, NGOs and Non-profits, SMEs, Social Entrepreneurship, Technology, Trade | Tagged: Business Today, NGOs, RIN, Rurual Innovations Network, Venture Intelligence Blog |