Objectives of the Optiven Nest
- The Optiven Nest forms the first step towards creating ‘one million entrepreneurs’ project by Optiven Foundation.
- The ideas selected for funding should be such that it will be able to generate employment for more people and the business can be diversified after growth.
- To give back to the community through mentorship and trainings to the business people under the program
- To offer Business Incubation;we shall get a Nest office where those who will qualify to start building up huge business empire. They will start in the nest for one year and they fly after that. and more growth due to brand association
According to Sustainable Development Goal 8: Promote inclusive and sustainable economic growth, employment and decent work for all. Figures show that 470 million jobs are needed globally for new entrants to the labour market between 2016 and 2030. To participate in the goal above, we have our projections as follows
- The business funded in the first year will fall under Micro Enterprises, that is, with up to 10 employees,
- In the second year it should grow to Small Enterprises with 10 to 50 employees
- In the next 3-5 years grow to a Medium Enterprise with above 50 employees and above.
- From the ideas funded each year and the growth of the previously funded business, it means that from the 470 million jobs needed in the next 15 years, we will have contributed towards the target that is to Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services achieving the Sustainable goal.
Launch of the Optiven Nest
- The fund was officially launched on 5th August 2016, at St. Andrews Hall, and 5 Independent Judges were unveiled;they will serve for the year 2016/2017.
- This will open a 60 day call for proposals, after they are received, they will be analyzed and forwarded to a panel of judges for vetting within another 60 days, and the most viable business ideas (number to be dependent on the initial capital required for the startup) will be selected for financing.
- The proposals will be solicited for online only, no hard copies......
Read on Other Organizations Supporting Innovative Entrepreneurship