Skip to main content

Harsh Mariwala launches entrepreneur mentoring foundation Ascent

To start with Mumbai- & Pune-based entrepreneurs

Harsh Mariwala, who has steered Marico to grow in sales from Rs. 40 lac in 1971 to Rs. 4,000 crore today, has launched a foundation - ASCENT (short for Accelerating the SCaling up of ENTerprises) - that will identify entrepreneurs with potential and enable them in their growth journey.

ASCENT offers a unique and powerful
self-help” platform through the formation of TRUST GROUPS of 10 Entrepreneurs each. Each Trust Group will comprise non-competitive, diverse groups of entrepreneurs. We aim to start with 10 TRUST groups in Mumbai and Pune, and over the next few years scale up ASCENT to a much larger size pan-India.

The interaction in the Trust Groups has been designed to provide value to entrepreneurs, using the power of learning in a Group, specifically through the following:

· Facilitation – ASCENT will provide experts who will play a value adding role as Initiators and Trainers for the Group in its first few months and set it up for success.

· Group Moderation - ASCENT will select Moderators from within the group and train them in facilitation, so that the Group can run successfully on its own.

· Insights - ASCENT Knowledge Partners - inspiring role Models and domain experts - will add specific insights and value to each group through their sessions.

· Eco-system - ASCENT will provide access to growth enablers - Consultants, Investors, VCs, banks, Mentors, Coaches-in collaboration with various Service Providers.

Ascen tis currently in the process of selecting entrepreneurs for Ascent Trust Groups. The eligibility criteria are as under.

· Minimum Annual turnover - Rs. 2.50 cr for a Products/Manufacturing business, & Rs. 50 lacs for a Services business

· Growth Potential - Business must have demonstrated high potential for growth

· Ambition- the Entrepreneur must be ambitious and innovative.

· Belief in the power of learning and Sharing - The Entrepreneur must be eager to learn, share, collaborate and innovate along with fellow- ASCENT members

Application forms are available online on www.ascentfoundation.in.

You can join SCENT and support this growth movement through the following:

· Spot entrepreneurs and recommend Ascent to them. If you have access to an existing network of entrepreneurs, connect them to ASCENT.

· Spread the word around about Ascent. Help us increase the outreach so that we can help more and more entrepreneurs grow.

· Suggest Knowledge Partners and Service Provides for Ascent. Share any thoughts / ideas that can contribute to Ascent.

Ascent is a non-profit entity expression of Harsh Mariwala's personal social responsibility towards entrepreneurs. Harsh Mariwala bears all expenses for ASCENT personally.

Interested Entrepreneurs, can APPLY online on

www.ascentfoundation.in

For any clarifications, please contact:

Viral Savla
Manager, Ascent
+91 98215 70230

viral@ascentfoundation.in

Popular posts from this blog

PE-VC investments in Q2'23 decline 33% to $9.9 Billion

Private Equity-Venture Capital (PE-VC) investments in India during the quarter ended June 2023 (Q2'23), at $9.85 Billion across 182 deals, registered a 33% decrease compared to the same period in 2022 (which saw $14.6 Billion being invested across 371 deals). The investment amount however rose 74% compared to the immediate previous quarter (which saw $5.7 Billion being invested across 181 deals), shows data from  Venture Intelligence , a research service focused on private company financials, transactions, and their valuations. The PE-VC investment figures for the first 6 months of 2023 - at $15.5 Billion (across 363 deals) - was 50% lower compared to the same period in 2022 (which saw $31 Billion being invested across 800 deals). Q2’23 witnessed 19 mega deals ($100 M+

Chiratae, Speciale and Stride Ventures win APEX'24 Venture Capital Awards

Chiratae Ventures, Speciale Invest and Stride Ventures were awarded as among the leading Venture Capital investors in India for 2023 as part of Venture Intelligence APEX‘24 Private Equity & Venture Capital awards event in Mumbai.  The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best that the Indian Private Equity & Venture Capital industry has to offer. The APEX Awardees are selected based on both Self Nomination by the participating PE-VC firms and "crowd sourced" voting from the Limited Partner, PE-VC and advisory communities. (The main criteria are Return Track Record, New Fund Raises & Follow-on Funding Rounds for Portfolio Companies) VC Investor of the Year Chiratae Ventures received the Venture Capital Investor of the Year 2023 Award on the back of 10 part exits totaling $178 million via Secondary Sales during the year. Its exits included those from retail unicorn Lenskart, SaaS Startup Pixis and baby pr

Blackstone, MO Alts and InvAscent win APEX'24 Private Equity Awards

Press Release Blackstone, MO Alternates (formerly Motilal Oswal PE) and InvAscent were awarded as among the leading Private Equity and Growth Capital investors in India for 2023 as part of Venture Intelligence APEX‘24 Private Equity & Venture Capital awards event in Mumbai.  The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best that the Indian Private Equity & Venture Capital industry has to offer. The APEX Awardees are selected based on both Self Nomination by the participating PE-VC firms and "crowd sourced" voting from the Limited Partner, PE-VC and advisory communities. (The main criteria are Return Track Record, New Fund Raises & Follow-on Funding Rounds for Portfolio Companies) PE Investor of the Year Blackstone received the Private Equity Investor of the Year 2023 Award on the back of strong complete exits during the year: from Sona Comstar and IBS Software. Ganesh Mani and Amit Dalmia, Senior Managing D

Avendus tops League Table for Transaction Advisors to PE deals in Q1'23

Aeka Advisors and Ambit claim the No.2 & 3 slot Avendus topped the Venture Intelligence League Table for Transaction Advisor to Private Equity Transactions for Q1 2023 advising 5 deals worth $808 million. Aeka Advisors stood second having advised 3 deals worth $228 million. Ambit followed with 4 deals worth $160 million. Ernst & Young ($114 million across 4 deals) and o3 Capital ($80 million across 2 deals) completed the top five for Q1 2023. Avendus acted as advisor to ADIA’s $500 million investment in omnichannel eyewear retailer Lenskart . Aeka Advisors acted as advisor to Kreditbee’s $160 million fundraise from Advent International, Mitsubishi UFJ Financial Group (MUFG) and existing investors. Ambit advised the $104 million fundraise of Freshtohome from Mount Judi Ventures, Iron Pillar, Amazon and others. The  Venture Intelligence League Tables , the first such initiative exclusively tracking transactions involving India-based companies, are based on the value of PE

PE-VC investments fall 38% in 2023 to below $30 B

The value of investments by Private Equity - Venture Capital (PE-VC) firms in India fell by 38% to less than $30 Billion in 2023. PE-VC firms invested $29.7 Billion (across 756 deals) in Indian companies in 2023, compared to $47.6 Billion (across 1,362 deals) in the previous year, reports Venture Intelligenc e, a research service focused on private company financials, transactions, and their valuations. (Note: These figures exclude PE investments in Real Estate).                                                                                                                                                                      2023 witnessed 67 mega deals ($100 M+ rounds) worth $21.2 Billion, compared to 112 such investments worth $31.8 Billion in 2022. The $2.4 Billion investment in Manipal Hospitals by Temasek (which gained majority control) and TPG Capital was the largest PE-VC investment in 2023. This was followed by the $1.35 Billion buyout of education loans focused HDFC Credila