Under the Entrepreneurship scheme launched by World Zarathushti Chamber of Commerce – India Region (WZCC-I) and the WZO Trust Funds (WZOTF), to support Zarathushti Entrepreneurs by funding selected projects in India on liberal terms, 3 entrepreneurs have been selected after a rigorous three-stage process and Rs. 25 lakhs disbursed as loans to each. The three businesses funded are:
- Manufacture and marketing of Solderless kits of Lithium Ion Battery packs for E-Vehicles.
- Manufacturing High Tech Lazer grade dyes and import substitution of specialty chemicals.
- Providing a one-stop solution for all Container-handling requirements including logistics, storage, and repair to IICL Standards.
Says Capt Percy Master, President WZCC India Region, “This financing initiative was launched to fulfill a long felt need to encourage the members of our community to venture into business and/or expand their Business. In this Scheme, WZCCI is a facilitator for evaluating the credibility of the business idea, while WZOTF acts to hold and disburse funds. Hopefully, this will boost the Zarathushti Spirit of Entrepreneurship, lying latent in the minds of many in our Community”
WZCCI and WZOTF had earlier invited donations from Zarathustis to donate amounts ranging Rs.5 lakhs to Rs.25 lakhs towards creating a corpus of Rs.5 crores to help Zarathushtis start entrepreneurial careers and help existing businesses to increase their scale of operations. So far, a total of Rs.1.25 crore has been received from many Zarathushti well-wishers globally, including India.
At Stage 1, applications for funding were solicited; Stage 2 comprised reviewing these applications with business plans and shortlisting the worthy ones; and Stage 3 was where these shortlisted applications were reviewed by a specially formed Business Advisory Committee (BAC) consisting of eminent, qualified and experienced individuals who scrutinized the applications and came to a unanimous decision on the 3 projects chosen.
Fresh applications are already under scrutiny and the collection of more funds is an ongoing process. We are hopeful that more High Net-Worth Zarathushti individuals and businesses will come forward to donate funds for this noble cause. We also request community members to come forward and avail of this offer by sending in their applications along with a well thought thorough and comprehensive Business Plan. For further information, contact wzccindia@on-lyne.com
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