JOIN USEntrepreneurship support firm EnRyz has announced a funding opportunity for all small and medium enterprises (SMEs) called EnRyzNow.
The company plans to enable businesses to present their expansion plans to a panel of experts comprising industry veterans, investors and mentors. The funding opportunity, which is in the form of a nationwide contest, will be held across 60 cities in India. Registrations are currently open on the EnRyz’s website, and will close on August 15.
The eligibility criteria include minimum three years of continuous profitability, annual sales of more than Rs 50 lakh for product manufacturing or service businesses only. The winner will gain strategic equity investors who will help them either reduce costs, improve operations or increase sales and profitability.
According to EnRyz founder Sajju Jain, “The results of EnRyz Now will be tangible and tracked throughout the year and we are hoping to showcase local, regional and national success stories at the end of it all.”