HYDERABAD: It takes great effort to empower people and Medallion Tailoring Group, a city based start-up venture, which won the sixth edition of iDiya competition held at Indian Business School (ISB)’s Hyderabad campus recently has managed to do that.
iDiya is a competition that aims to stimulate and develop high-impact, self sustaining social businesses in India. Out of the 125 teams who sent in their ideas, 11 teams from across the country were selected to attend an intensive week long boot camp at the ISB campus. The boot camp served as a a promising platform for dynamic entrepreneurs with a social bent to showcase their ideas to potential investors.
The Medallion tailoring group is run by 25-year-old social entrepreneur Prashanth Ramagiri which seeks to provide organized training to tailors in the industry. It also aims to breakdown various myths that are associated with the tailoring profession like the low salary and difficulty level of the work. Medallion provides easy, affordable and fast tailoring training and employment to low-income community. The winners have received an investment support of `2 lakh from ISB for their efforts in the field.
Speaking about his experience at the iDiya challenge, Prashanth Ramagiri said, “Winning 6th ISB iDiya - National Social Venture Competition is definitely a successful acceleration that Medallion has gained. I was competing against ventures from industries like healthcare, agriculture, education and livelihoods and I could learn a lot from them. Being the only Hyderabadi winner makes me happier. Thank you ISB for encouraging social entrepreneurs like me.” Quiz him on any tips he picked up from there and he replies, “The valuable feedback during the competition helped me innovate around multiple areas that in turn intensify the value that Medallion creates”, adds Prashanth Ramagiri.
The sixth edition of ISB saw active participation from the students and had 15 eminent speakers from various fields in attendance. “The 6th ISB iDiya was a very fulfilling experience for the ISB student organizers. We are proud that at the end of the journey we have selected the social business ideas with the maximum potential to change the face of the country in the years to come. We wish them all the best”, said Shobhit Mathur, lead coordinator at ISB.