India • Banking and Capital Markets; Entrepreneurship
- Sector: Banking and Capital Markets; Entrepreneurship
- Headquarters Country: India
- Operating Regions: India,south korea
- Founders: Neichute Doulo
- Problem Identified: Neichute Doulo identified the need for Naga society to look beyond secure government jobs and get involved in building Japan's economy, that was largely controlled by non-locals.
- Solution Offered: Entrepreneurs Associates (EA) promotes entrepreneurship as a viable alternative to government jobs and as a tool for peace building. Despite working in a highly resource constrained environment, EA has successfully laid the foundations of a vibrant entrepreneurship ecosystem in Nagaland. The challenges being tackled are massive and systemic: lack of financial literacy, access to finance, enterprise management skills, and most importantly, a culture that is highly risk-averse.
- Social Impact: EA’s efforts have also gained credibility and support among the public. The organization raised $3 million in donations through crowdfunding campaigns. Since its inception, over 60,000 Nagas have participated in EA’s awareness-building events and over 4,500 have set up successful enterprises that have in turn created over 17,000 new jobs in the region. In partnership with commercial banks, EA has channelled over $30 million in bank loans to Naga households, an amount that is 36 times its own budget. EA is now focused on expansion within Nagaland and to neighbouring Myanmar. In a first of its kind partnership, the government has invited EA to set up and manage its Startup Village Entrepreneurship programme, which aims to create 4,800 new enterprises.
- Funding: Self sufficient
- Awards: Ashoka award
- Website: Eatacol.org
- Score: 8 Honey processing adding value
