Micro Entrepreneur Eco System (MEEco)
India has recently witnessed an upswing of entrepreneurial activism. In part due to an increasing urge to "go solo" and in part due to an improvement in available infrastructure, many people seek to start their own enterprise. However, this enthusiasm is tempered by inadequate availability of knowledge - knowledge of business requirements, of credit and banking facilities and of available service providers. The Micro-Entrepreneur Ecosystem (henceforth referred to as MEEco) is an effort to provide the required knowledge and nurture nascent projects.
MEEco will do this by providing an interface that will allow all the players involved in setting up an enterprise to interact with each other. These players include, but are not limited to, the entrepreneur, credit-lending institutions, third-party service providers and business domain specialists. Interaction like that which MEEco will provide will allow for free exchange of ideas and an iterative process that will help streamline the project idea brought under consideration and ensure its profitability. This concept will also allow the entrepreneur to focus her/his tasks on what is important for the project instead of spending time on mundane, albeit vital, tasks that can be executed after leveraging freely available knowledge and resources.
This interaction is executed around the "flow" of the project plan. As the plan flows between "modules", various players assess the plan for its feasibility and offer advice and suggestions to improve it. If the plan finally satisfies all interested parties, they may choose to finance and/or service the plan. The entrepreneur, in turn, is free to avail of or reject these (service) offers. This flow is conducted with an IT infrastructure that will allow for anonymity, if so desired, and ensure proper monitoring of all involved processes. Having an IT infrastructure will also enable its custodians to tweak the system and scale it, should participation increase.
MEEco will ensure that the interests of all players involved will be considered and hence envisages expenditures to ensure that business ideas are properly evaluated and dissected for all possible scenarios. This will also ensure that all players properly play their parts to ensure the success of MEEco. Revenues will be obtained in the form of fees - appropriated from the profits of the project. These fees will constitute a pre-determined percentage of the profits of the venture and will be distributed between MEEco and other players excluding the entrepreneur, those contributed to the plan. MEEco itself will, thus, be a business venture, with for-profit motives.
