PUNJAB: MID the industrial bustle of Ludhiana, a paradigm shift is underway – one with the potential to reshape the landscape of entrepreneurship among marginalised communities across India. At the heart of this transformative initiative is Sakshi Sawhney, a visionary IAS officer whose groundbreaking project, the “Future Tycoons Challenge,” is providing a lifeline to those with innovative ideas but limited chances.
Sawhney’s commitment to nurturing innovation and entrepreneurship among the underserved was so compelling that it quickly garnered attention and acclaim. Now the Deputy Commissioner of Ludhiana, Sakshi has brought her vision to a new level, enhancing and expanding the “Future Tycoons Challenge” to foster a more inclusive and dynamic ecosystem for aspiring entrepreneurs.
Launched in 2022, the Future Tycoons Challenge mirrors the high-stakes excitement of a reality TV show like “Shark Tank,” but with a unique twist: it is grounded in the principles of inclusivity and capability-building. The initiative invites students, youth, self-help groups, women, differently-abled, and the public to present their innovative ideas. The goal is to create a level playing field where anyone with an idea can find the support needed to turn it into a viable enterprise.
Sawhney’s approach is nothing short of revolutionary. The project is based on the capabilities approach, which emphasizes empowering individuals to achieve their potential by providing them with necessary tools and support. This ethos is reflected in the comprehensive mentorship and resources offered.
The first edition of the Future Tycoons Challenge in Patiala received 418 applications, with 67 shortlisted for the final pitching round. The winners walked away with a prize pool of `4 lakh, a testament to the initiative’s success in catalysing entrepreneurial spirit. The second edition saw even greater engagement, with 1,108 applicants and 81 shortlisted candidates.
A rigorous selection process included a four-day mentorship programme designed to enhance participants’ skills and prepare them for the final pitch. This programme covered a wide array of essential business skills, from opportunity identification and customer surveys to pitch development and domain research.
Among the shining stars of the challenge is Mannat Mehmi, a winner from the second edition who turned her idea of selling goat milk into a thriving enterprise. Now a master trainer for women farmers, Mannat’s venture has gained widespread recognition and has become a beacon of success for women in agriculture.