Kerala-based social venture Innovation eXperience is offering entrepreneurs kitted-out workstations to create eco electronic products, as well as the training and finance to market them.
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Helping to foster grassroots business is one way that emerging economies are helping all corners of society to contribute to their growing GDPs. While Brazil’s Eu que Fiz scheme has traveled to women in favelas to train them in food business management, a new initiative from India-based social venture Innovation eXperience is offering entrepreneurs kitted-out workstations to create eco electronic products, as well as the training and finance to market them.
Inventors and product designers in the Kerala region will be able to register for the to receive one of the distributed micro-manufacturing units (DMUs) — workstations that include the tools necessary to create electronic products. The aim is to create a decentralized community of entrepreneurs operating under one brand name — Teqnik — to deliver new and innovative green products. Components are provided by Megabyte Ltd and the company also purchases successful products to help market and distribute them. The DMUs can be placed in co-working spaces or even in entrepreneurs’ homes. Each DMU is powered by renewable energy and Innovation eXperience will provide training and testing support to ensure the products are fit for market. Additionally, engineering graduates below the age of 40 will be eligible for interest free loans as part of the scheme.
The program has already produced a biodegradable bamboo-based solar lamp, and a signage lighting system with a sunlight sensor and an automatic on-off mechanism which help to save energy. Could other countries follow suit to help foster a network of innovative engineering entrepreneurs?