Muktishree group of companies has ventured into a social business. The group is all set to implement a project in partnership with RuralShores, India and the Inclusive Ventures Limited that aims to empower Nepali rural youths through skill development trainings and provide employment opportunities to some of them. The group announced the partnership on August 8.
RuralShores is a Bangalore based Indian social enterprise that specializes in creating jobs in villages by training and employing rural youth. Similarly, Inclusive Ventures Limited is a socio-economic investment vehicle established by certain EMBA 2014-2015 cohorts of the Said Business School of the University of Oxford to make investments in ‘social impact and inclusive enterprises’.
Arun Raj Sumargi, one of the promoters of the Muktishree Group, revealed that the venture would be commercially launched within two to three months. Training and employment centres are presently under constructions in Hetauda and Lumbini. He shared that a batch will have 21 students, out of which 11 will be provided with employment opportunity by the firm. Anyone who has passed SLC is eligible to apply for the course. Trainees will be trained online and they will be also offered online jobs from employers anywhere in the world.
Sumargi credited the company’s recognition gained by working for a long period with investors from Europe and other countries for finalizing the deal. He said that the group has a long relationship with Mohamed Amersi, Chairman of Inclusive Ventures Limited and informed that the Muktishree Group will work as a facilitator, investor and partner in this venture.
Elaborating on the importance of the agreement, the group claimed that the partnership is the first incidence where RuralShores is exporting its innovative and widely acclaimed development model outside India. Under this venture, multiple training and employment centres in rural areas will be established, the first of which will be in Hetauda followed by Lumbini. “RuralShores is a great company and our rural youth will benefit immensely from being empowered and skilled,” said Ajeya Raj Sumargi, chairman of the Muktishree Group. “We are proud to launch this initiative to coincide with the inaugural visit of Prime Minister of India, Narendra Modi, to Nepal,” he added.
The training facility will be established in the premises of Hetauda Academy, one of the educational institutions promoted by the group. The training centre is spread over an area of 7 bighas. Arun Raj Sumargi said that Hetauda was selected to materialise the group’s vision to make Makwanpur and Chitwan as a medical and educational hub. Lumbini, he informed, is selected for the area’s popularity and recognition for being the birthplace of Gautam Buddha.
Murali Vulaganti, CEO of RuralShores explained, "RuralShores' model of serving the rural youth with employment opportunities through Impact Sourcing is as relevant to other developing countries as it is for rural India. We are happy to partner with Oxford based Inclusive Ventures and Muktishree Group to bring this initiative to Nepal." RuralShores was established in May 2008 with the objective of assimilating rural India into knowledge economy by providing job opportunities to the rural youths.
Mohamed Amersi, Chairman of Inclusive Ventures Limited commented, "We are privileged to have been introduced to RuralShores by the Said Business School.” He praised RuralShores for being iconic, inclusive and innovative. “Rural regeneration is a global objective. We look forward to partnering with RuralShores in developing their proprietary model outside India through rural on-shoring and reverse innovation,” he added. Muktishree Group is an emerging business house of Nepal with around 21 businesses belonging to the telecom, energy, cement, minerals, media and education sector, among others.