LetsEndorse Development

In their own words

LetsEndorse is a social enterprise on a mission to solve social issues at scale. In a team of 50+, we have been working on building multi-stakeholder partnerships with the government, NGOs, corporations, and other relevant stakeholders in order to- 1) Understand nuanced social issues at a community level 2) Identify and co-create befitting solutions 3) Raise required resources to deploy these solutions at the last mile Over the last two years, we have focused on enabling people to set up new enterprises or scale up their existing micro-enterprises by taking a credit-plus approach through our unique tech-and-touch maturation model called UDYAMITA (https://www.udyamita.org/). In addition to financing, we are working on building their capacity before and after setting up the business. We have built a platform to do this at scale. In partnership with SIDBI, we are already working in ~115 districts across 6 states. We have enabled 2,500+ enterprises (~50% women-run) with roughly INR 35 crore of investment in 2021. By the end of 2022, we are looking to enable 10,000 micro-entrepreneurs, unlock INR 300+ crore of financing, reduce the cost of finance by up to 50%, and generate employment for 30,000 people. Our 'maturation model' aims to achieve a 99% business survival rate and repayment rate, thereby reducing NPAs. Over the next five years, we have the opportunity to enable 1 million micro-entrepreneurs, unlock INR 50,000 cr+ of financing, generate at least 3 million direct employment, and create a massive impact on the country's economy. We are extremely passionate about building economic and societal equity and with our experiences from the ground, we strongly believe that to democratize entrepreneurship at scale, a 360-degree enablement and handholding model powered by technology like UDYAMITA, is acutely needed.

Written by the company on its public Startup India profile. Not verified by us.