Social business group Mrida plans crowd funding

Chennai, Sep 15 (IANS) Social business group Mrida is planning to tap the crowd funding route for lighting up some of the remote Indian villages, promote farm activities and tourism there, said a promoter.

The group promoters are also open to divest some portion of their holdings in the two group companies to shore up their fund base.

“There are people who would like to contribute for the betterment of villages — their own or not. We would like to tap that source for lighting up some of the remote villages through solar power as they do not have access to grid power,” Arun Nagpal, co-founder and director, Mrida told IANS here on Monday.

Nagpal said the group would start sourcing crowd funding in three months time for some of the projects.

Currently, the New Delhi-based group operates on two major business models — implementing the solar power projects for corporate as their corporate social responsibility (CSR) projects for a fee and pure play model of setting up of solar power grids in villages and collecting a fee by developing a local entrepreneur to manage and run the systems.

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