Rs16.49 cr investment in green business1 min read . Updated: 07 Nov 2007, 06:09 PM IST
Rs16.49 cr investment in green business
New Delhi: Investment worth Rs16.49 crore was facilitated in 2005-06 in three companies Conserve HRP, HMX Sumaya and ABT Bio products.
New Ventures India, a joint initiative of CII-Sohrabji Godrej Green Business Centre and World Resource Institute, Washington DC supported by USAID has been facilitating sustainable enterprise growth by providing sound investment opportunities to emerging Green entrepreneurs since 2005.
In early 2006, they received a total of 56 business plans from green entrepreneurs across the country. After strict scrutiny, 10 were selected and invited to present their plans at Investor Forum 2006.
What do the companies do?
Conserve HRP supplies environment friendly recycled fashion accessories . It tied-up with Danish fashion business retailer, Bestseller and formed a private limited company called “BS Studio & Services India Pvt Ltd" with plans of investing 2 million euros. They received half a million in the first phase. The newly formed company will have access to 3500 retail stores in Europe, Middle East and China and have tied up with Danish fashion business retailer, Bestseller.
Bangalore based HMX Sumaya produces innovative, environmentally-friendly HVAC solutions received debt funding of INR 49.9 million from ICICI Bank under the Energy Conservation and Commercialization (ECO) programme of USAID.
ABT Bioproducts, receives seed funding of Rs50 lakh from an angel Investor. ABT Bioproducts has developed innovative new products for organic farming, including bio-fertilizer, plant growth promoters, bio-pesticides and soil fertility enhancers.
New Ventures India provided extensive mentoring services to these companies to make them investment worthy and was a major facilitator for these deals. In continuation with its endeavour, it is organizing its second annual ‘Investor Forum 2007’ on November 16-17 in Mumbai, where new potential Green entrepreneurs will be showcasing their business plans and will pitch for investments.