This profile was prepared when Vineet Rai was elected to the Ashoka Fellowship in 2006.
The New Idea
Vineet is working to create a sustainable change in rural India through the provision of venture capital financing and management support to socially-conscious, environmentally friendly, commercially viable ventures that currently have limited or no access to established financial institutions. His approach is professional, efficient, transparent and sustainable, meeting international venture capital standards as well as in full conformity with the Securities and Exchange Board of India (SEBI) regulations. Vineet firmly believes that rural innovations and appropriate technologies can be leveraged to create viable and sustainable micro enterprises. This will spur economic activity, create productive jobs and improve quality of life in rural India. The consequent purchasing power in rural India will lead to greater rural demand for goods and services provided by corporate India. Such a model has the power to create a “virtuous cycle” of sustained growth and development in India and, eventually, around the world. Vineet establishes close partnerships with rural incubators, citizen organizations (COs) and government agencies working in the rural sector. He invests in the incubators and provides timely and appropriate financing to support the commercial scaling-up of rural ventures and appropriate technologies with the potential for replication throughout rural India.