PERFECT LAUNCHPAD

If your dream of floating a start-up has been hamstrung by lack of funds, this dossier of government and private schemes is here to help.

- Anindita Ghosh

An ingenious idea and optimum funds are the two most important things a person needs for a successful business venture. In fact, many of us shy away from daring to dream about setting up our own enterprise because the prospect of raising funds seems insurmountable. However, there are multiple government and private schemes for small entrepreneurs, which have enabled many enterprising women to launch their start-ups.

For instance, when Saroja Yeramilli, CEO and founder of Melorra, an affordable fine jewellery brand, reached out to Lightbox, a venture capital firm, they managed to raise seed funding of $5 million in 2015 at the business plan stage. “We used the money to hire the best talent, and also for marketing and advertising. We have been able to raise upwards of $20 million since then, and are a large brand now, growing at 500 per cent year-on-year. I did not face any specific hurdles for funding and the process was simple. I had appointed a lawyer who helped me understand the legality of the disclosure documents and other procedures before we closed the deal,” says Yeramilli.

GOVERNMENT SCHEMES

If you are strapped for funds, choose from various government schemes that are available for small entrepreneurs, some of which are specifically tailored for women.