Mahindra Group Encourages Employees to be Entrepreneurs
Bengaluru, India | Red Newswire | Nov 20, 2015 Last Updated at 05:46 PM IST.
Some employees do have an entrepreneurial bug hidden inside them and Mahindra group has found a way to satisfy this bug. The company is encouraging its employees to be entrepreneurs by helping them with seed funding and other aids.
The company is helping its employees build n-house startups by providing them with funds. Anand Mahindra, Mahindra Group Chairman said he has received more than a dozen applications and he and the investment committee is going through them.
Mahindra said, “It is a very natural step for us to take on the task of incubating new-age startups within our sectors and possibly in entirely new areas as well. There is growing support in business academia for this notion that a ‘corporate garage’ may well be an ideal host environment for startups.”
First startup of the company “SmartShift” has already been launched and is an app-only company connecting transporters with the cargo owners to provide intra – city logistics. The company said its two more startups are ready to launch.
For employees to begin with the startup, they have to own the startup and quit their jobs. However, there is no worrying about the funds.
The indian startup boom is in full pace and many startups are trying to make most of it.
Reportedly, $4 billion has already been invested by the Venture Capitalists between January and September.
Mahindra is not the only company that has taken such initiative. Others include Aditya birla Group and Reliance Industries.
Source: BI India Bureau