Indian Lawyer's Social Enterprise OptiMrkt to Bring Financial Inclusion for the Underserved in India
Chenoy Ceil, a corporate lawyer from India, studying MBA at the University of Tampa, Florida has made it to the last 30 in the Hult Prize competition with a chance to win $1 million. OptiMrkt brings financial inclusion for under-served in India.
Tampa, Florida, April 27, 2016 (Newswire.com) - Chenoy Ceil, CEO and Co-Founder of OptiMrkt has found a unique peer-to-peer investment platform that revolutionizes the micro-financing industry by establishing a sustainable business that will tackle some of the most pressing issues in the urban slums of India. By connecting micro-enterprises in India to investors around the world, OptiMrkt has build world's first 100% transparent, secure and seamless micro-financing platform.
Chenoy co-founded OptiMrkt with a team of passionate and dedicated student entrepreneurs in Florida with the intent to compete at Hult Prize 2016 and win $1 Million in seed funding.
“These underserved communities are the most industrious places I’ve ever experienced, we have seen an opportunity to bridge the gap and alleviate millions from poverty, and with the $ 1 million prize our vision will become a reality.” says team mate Monty Berrow.
OptiMrkt was recently ranked in the top 30 out of over 25,000 teams worldwide at the Hult Prize regionals and now they are trying to claim the final 6th spot through Wild Card round to earn the chance to present to over 1,000 global leaders including President Bill Clinton at The Clinton Global Initiative Annual Meeting in September.
So what does OptiMrkt do? OptiMrkt is currently targeting the slums of Dharavi, Mumbai, where the founders lived for 2 weeks in January on a research study. They are focusing on the 20,000 capable entrepreneurs who handcraft exceptional high quality products yet continue to face poverty. Their solution is to provide micro loans through impact investors from around the world to local artisan, craftsmen and women entrepreneurs in India. These investors will be able to invest as little as $25 and co-own a small business whilst receiving real time returns on investment and updates on their businesses performance.
“We are able to broaden our economic inclusion through our partnership with non-profit institutions who will provide training to unemployed women and also provide financial literacy classes” says Chenoy.
“We’re simply providing the tools for these communities, they have the talent and they are the solution,” says team member Bay Downing.
To find out more and support OptiMrkt’s journey go to www.tinyurl.com/optimrkt and follow them on social media @OptiMrkt