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Biplab's thoughts: 12/01/2006 - 01/01/2007

Monday, December 11, 2006

We Can Put Poverty in the Museums

I couldn't help but to put this portion of Mohd. Yunus's Nobel acceptance speech.

We Can Put Poverty in the Museums
I believe that we can create a poverty-free world because poverty is not created by poor people. It has been created and sustained by the economic and social system that we have designed for ourselves; the institutions and concepts that make up that system; the policies that we pursue.
Poverty is created because we built our theoretical framework on assumptions which under-estimates human capacity, by designing concepts, which are too narrow (such as concept of business, credit- worthiness, entrepreneurship, employment) or developing institutions, which remain half-done (such as financial institutions, where poor are left out). Poverty is caused by the failure at the conceptual level, rather than any lack of capability on the part of people.
I firmly believe that we can create a poverty-free world if we collectively believe in it. In a poverty-free world, the only place you would be able to see poverty is in the poverty museums. When school children take a tour of the poverty museums, they would be horrified to see the misery and indignity that some human beings had to go through. They would blame their forefathers for tolerating this inhuman condition, which existed for so long, for so many people.
A human being is born into this world fully equipped not only to take care of him or herself, but also to contribute to enlarging the well being of the world as a whole. Some get the chance to explore their potential to some degree, but many others never get any opportunity, during their lifetime, to unwrap the wonderful gift they were born with. They die unexplored and the world remains deprived of their creativity, and their contribution.
Grameen has given me an unshakeable faith in the creativity of human beings. This has led me to believe that human beings are not born to suffer the misery of hunger and poverty.
To me poor people are like bonsai trees. When you plant the best seed of the tallest tree in a flower-pot, you get a replica of the tallest tree, only inches tall. There is nothing wrong with the seed you planted, only the soil-base that is too inadequate. Poor people are bonsai people. There is nothing wrong in their seeds. Simply, society never gave them the base to grow on. All it needs to get the poor people out of poverty for us to create an enabling environment for them. Once the poor can unleash their energy and creativity, poverty will disappear very quickly.
Let us join hands to give every human being a fair chance to unleash their energy and creativity.
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Friday, December 08, 2006

Micro Finance -answer to poverty alleviation

Micro finance is at center stage today in terms removing poverty. I was watching CNBC program on Mohd. Yunus, this year's Nobel peace prize winer. A great thinker. He said he is happy that at least they recognized that there is a strong link between poverty and peace.
CNBC also I think awarded Vikram Akula -SKS microfinance in the entrepreneur of the year start-up category.
both the men actually given credit to mostly women. are women more credit worthy than men??
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TECH TALK: Ventures and Capital: Start.Exchange

Rajesh Jain shares his entrepreneurial experience in his blog http://www.emergic.org

One of the ideas that I have mulling over to resolve the impasse between the early-stage capital needs for a business and the difficulty that there is in raising that capital is to create some sort of stock exchange where entrepreneurs can list their companies right at the start. They can publish an outline of the business plan and provide details of their capital needs. Then, individuals seeking to invest can make their own decision. (I have not looked at the regulatory implications of doing this in India ? but am sure there is a way to make such a thing possible.)
I think one of the most important untapped opportunities amongst the potential investor community are the million or so Indians who are working in software or other technology companies. Many have done well financially on account of a combination of salary growth and stock options. After taking care of basic needs in life (house, car, children's education and the like), they still have surplus capital available. They can be a good source of capital for the new entrepreneurs. For one, they understand the technology space and can thus also provide valuable insights. Second, even if they do not want to leave to start a venture themselves, this sort of an investment gives them the opportunity to get a flavour of the world of startups and live a 'second life.'
The challenge lies in matching the two groups, and at the same time providing liquidity to the investment made. This is where a stock exchange comes in. Market caps of the companies listed here will be in tens of lakhs to a few crore rupees. What is needed is the equivalent of a market maker who can match buyers and sellers. BSE and NSE listings will always be limited to large companies with profits. We need something on a much smaller scale ? where investors are clear of the risks. In fact, an investor should only put money into companies if he is okay with losing that capital. That is the worst case scenario and one must be prepared for it.
For an entrepreneur, this stock exchange helps to raise capital quickly and on-demand from investors who genuinely believe in the business (and the team). It will create for a deeper relationship with a set of people on the outside who can also be champions and advocates for the company's solutions. If this idea works, then this will lead to a surge in entrepreneurs willing to create new ventures ? which is exactly what will spark innovation and the creation of more locally-relevant solutions in India.
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