Shri Vithal Education and Research Institute Pandharpur (SVERI) & the U Group LLC of Silicon Valley, have launched a “Entrepreneurial Center for Rural Innovation (ECRI)” in the College of Engineering Campus. A first-of-its-kind strategic partnership has been inked between SVERI Pandharpur and the U-Group LLC to establish an ‘Entrepreneurial Center for Rural Innovation (ECRI)’ to accelerate the development and commercialization of quality products/services to address rural needs in India and other developing nations.
The U-Group LLC is a premier technology execution firm that develops intelligent growth strategy and Exit-Engineered Execution for small and mid-cap technology and health enterprises in the Midwest region of the United States.
“While local entrepreneurs understand rural needs and can find cost effective solutions that enhance agricultural efficiency, they would benefit greatly from the vision, the experience and the mentorship of the U-Group LLC, led by Sanjeev Chitre to build successful ventures from them. They can help us produce locally and think globally”, says Dr. Babruvahan P Ronge, Chairman and Founder of SVERI.
Sanjeev Chitre, Managing Partner of the U-Group LLC added, “We have a fivefold focus for this collaboration. The ECRI will provide handholding support and assistance to potential entrepreneurs in five key areas including:
1. Transformation of a concept, prototype or a product/ service into a potential business entity through interactive conversations and guidance.
2. To infuse local products with global thinking.
3. Assist with capital and infrastructure development.
4. Identify pathways for other developing nations through Foundation Funds like World Bank, Gates Foundation, Rockefeller Trusts etc.
5. A baseline for building enterprise value for all shareholders.
Interestingly enough, Mr. Chitre’s debut book, a ‘Bible’ for entrepreneurs ‘What Not to Do in Entrepreneurship’, and his passion for mentoring was the starting point for the conversation around setting up the ECRI.
Talking about the need for global mentors to be available to guide local entrepreneurs, Prof. Nitin Misal, President of SVERI who has been appointed also as the Chairman of ECRI, says, “We now have our entrepreneurial community inspired to make a global difference. This is truly a win-win for all in Pandharpur, in India and Global Rural Communities.”
