Vineet Rai
Encyclopedia
Vineet Rai is founder and the CEO of Aavishkaar Venture Management Service which is India's first Social Venture Capital
Firm. He is also chairman and co-founder of Intellecap. Prior to Aavishkaar, he was the CEO of Grassroots Innovation Augmentation Network (GIAN), an incubator for rural innovations and ventures based in Ahmedabad
, Gujarat. He has co-authored several papers with Professor Anil Gupta at IIM Ahmedabad on issues concerning rural and micro innovations. He also features in Rashmi Bansal
's book: I have a Dream. He holds a Post-Graduate diploma in Forestry Management from Indian Institute of Forest Management
, Bhopal
(BILT)in 1994 and left to join as Research Associate at IIM Ahmedabad in 1997 with Prof Anil Gupta. He left the post within 8 months and joined GIAN as Manager and later promoted to CEO in June 1998. At GIAN he set up a grassroot design studio at National Institute of Design
and 7 rural innovation driven enterprises. He quit GIAN and setup Aavishkaar in September 2001.. He has investment in prominent Microfinance Institutions like Bhartiya Samruddhi Finance Ltd (BSFL)
, Share Microfin Ltd, Equitas Micro Finance (India) Pvt. Ltd, Suryoday Micro Finance Pvt. Ltd and Utkarsh Microfinance Pvt. Ltd.
He also writes blog for the Microfinance
sector which could be read here.
Fellowship in 2006, for his work towards economic development and creating 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. In the recently concluded G-20 Seoul Summit
, Vinnet Rai represented his organization AAVISHKAAR as one of the 14 shortlisted best and most innovative proposals to catalyze finance for small and medium-sized enterprises (SMEs) . These winners were recognized for their outstanding innovations by G-20 officials at the closing ceremony of the G-20 Summit in Seoul, South Korea on 12 November 2010. Aavishkaar is the only winning entry from India to make it to this global challenge in 2010.
He also sits on the board of directors for CASHPOR, an Indian Microfinance institution(MFI).
He is a frequent speaker at public events, mainly related to social entrepreneurship
.
Social Venture Capital
Social venture capital is a form of venture capital investing that provides capital to businesses deemed socially and environmentally responsible. These investments are intended to both provide attractive returns to investors and to provide market-based solutions to social and environmental issues...
Firm. He is also chairman and co-founder of Intellecap. Prior to Aavishkaar, he was the CEO of Grassroots Innovation Augmentation Network (GIAN), an incubator for rural innovations and ventures based in Ahmedabad
Ahmedabad
Ahmedabad also known as Karnavati is the largest city in Gujarat, India. It is the former capital of Gujarat and is also the judicial capital of Gujarat as the Gujarat High Court has its seat in Ahmedabad...
, Gujarat. He has co-authored several papers with Professor Anil Gupta at IIM Ahmedabad on issues concerning rural and micro innovations. He also features in Rashmi Bansal
Rashmi Bansal
Rashmi Bansal is a writer, entrepreneur and a self-proclaimed youth expert. She is the author of two bestselling books on entrepreneurship - Stay Hungry Stay Foolish and Connect the Dots....
's book: I have a Dream. He holds a Post-Graduate diploma in Forestry Management from Indian Institute of Forest Management
Indian Institute of Forest Management
The Indian Institute of Forest Management is an autonomous institution at Bhopal in Madhya Pradesh, India, established by the , Government of India with financial assistance from the Swedish International Development Cooperation Agency and course assistance from the Indian Institute of...
, Bhopal
Early Life and Career
Vineet Rai completed his Post Graduate Diploma in Forestry Management in year 1994. He joined Ballarpur Industries LimitedBallarpur Industries Limited
Ballarpur Industries Limited is a flagship of the US$ 4 bn Avantha Group and India's largest manufacturer of writing and printing paper. The current chairman of the company is Gautam Thapar, who succeeded his late uncle L.M...
(BILT)in 1994 and left to join as Research Associate at IIM Ahmedabad in 1997 with Prof Anil Gupta. He left the post within 8 months and joined GIAN as Manager and later promoted to CEO in June 1998. At GIAN he set up a grassroot design studio at National Institute of Design
National Institute of Design
The article for the postgraduate campus can be found at National Institute of Design Gandhinagar and National Institute of Design BangaloreNational Institute of Design is a design school in India. The institute functions as an autonomous body under the Department of Industrial Policy and...
and 7 rural innovation driven enterprises. He quit GIAN and setup Aavishkaar in September 2001.. He has investment in prominent Microfinance Institutions like Bhartiya Samruddhi Finance Ltd (BSFL)
BASIX (India)
BASIX is a new generation livelihood promotion institution established in 1996 in India. It is headquartered in Hyderabad, Andhra Pradesh. BASIX has supported the livelihoods of over a million rural poor households, of which a third have been supported directly with microcredit worth over Rs 2000...
, Share Microfin Ltd, Equitas Micro Finance (India) Pvt. Ltd, Suryoday Micro Finance Pvt. Ltd and Utkarsh Microfinance Pvt. Ltd.
He also writes blog for the Microfinance
Microfinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
sector which could be read here.
Awards and recognition
Vineet Rai was elected to the AshokaAshoka: Innovators for the Public
Ashoka: Innovators for the Public is a nonprofit organization based in Arlington, VA, supporting the field of social entrepreneurship. Ashoka was founded by Bill Drayton in 1981 to identify and support leading social entrepreneurs through a Social Venture Capital approach with the goal of...
Fellowship in 2006, for his work towards economic development and creating 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. In the recently concluded G-20 Seoul Summit
2010 G-20 Seoul summit
The 2010 G20 Seoul Summit was the fifth meeting of the G-20 heads of government, to discuss the global financial system and the world economy, which took place in Seoul, South Korea on November 11–12, 2010...
, Vinnet Rai represented his organization AAVISHKAAR as one of the 14 shortlisted best and most innovative proposals to catalyze finance for small and medium-sized enterprises (SMEs) . These winners were recognized for their outstanding innovations by G-20 officials at the closing ceremony of the G-20 Summit in Seoul, South Korea on 12 November 2010. Aavishkaar is the only winning entry from India to make it to this global challenge in 2010.
He also sits on the board of directors for CASHPOR, an Indian Microfinance institution(MFI).
He is a frequent speaker at public events, mainly related to social entrepreneurship
Social entrepreneurship
Social entrepreneurship is the work of social entrepreneurs. A social entrepreneur recognizes a social problem and uses entrepreneurial principles to organize, create and manage a venture to achieve social change . While a business entrepreneur typically measures performance in profit and return, a...
.