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MicroGraam, a peer-to-peer online social investment platform, founded by ex-Infoscion Rangan Varadan and Sekhar Sarukkai, serial entrepreneur from Silicon Valley, has been selected as one of the 15 finalists of the Artha Venture Challenge (AVC), from among 116 applicants. The rigorous selection process lasted around two months. The AVC, a national competition designed to identify, select and provide the best socially focused ventures access to mentoring, connections and funding, gives finalists like MicroGraam and other social businesses the opportunity to draw up to Rs 25 lakh once a matching funding amount has been raised by them. Artha has engaged social business incubators Villgro and Ennovent to provide finalists with an intensive few months of capacity building support from September 2013 through to April 2014. Commenting on the achievement, founder and CEO of MicroGraam, Rangan Varadan said: “Any company, and it’s true in social business as well, cannot develop without a favorable ecosystem around it. We consider that network and ecosystem are actually more important than investments. Artha platform and the venture challenge has provided us that access to the network and we believe that this will enable us in building a stronger business model.” www.micrograam.com
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