NEW DELHI (India CSR): In July 2021, Utkal Alumina International Limited, in a significant partnership with the Entrepreneurship Development Institute of India (EDII), embarked on a transformative journey aimed at fostering entrepreneurship and promoting enterprise development in rural Odisha. Dubbed “PROJECT UDYAMEE,” this initiative has become a beacon of hope and innovation for youth entrepreneurs in the tribal regions of Rayagada and Kalahandi, directly influencing 300 entrepreneurs and indirectly supporting 1000 livelihoods in the non-farm and Agri-allied sectors.
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Empowering the Youth
The Genesis and Goals of UDYAMEE
Initiated in the remote locales of Tikiri, Rayagada, the project is rooted in the vision of uplifting the Human Development Index by nurturing an entrepreneurial ecosystem. This initiative aligns perfectly with India’s “Atma Nirbhar Bharat” ambition, encouraging self-reliance and a vibrant start-up ecosystem. Through its comprehensive support system, UDYAMEE has taken a multi-stakeholder approach, collaborating with the governmental frameworks of MSMEs, SMEs, and OLM, to provide a sustainable model for enterprise development.
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A Holistic Approach
Services and Achievements of the Rural Business Incubation Centre
The Rural Business Incubation Centre, the heart of PROJECT UDYAMEE, offers an end-to-end solution for enterprise development. From inception to execution, marketing, and financial linkage, the centre has become a cornerstone for budding entrepreneurs. With 3083 individuals counseled, 239 business plans approved, and 221 enterprises established, the project has significantly impacted the region. Financial facilitation has seen 58 loans worth Rs. 226.04 lakhs processed, of which 39 loans totaling Rs. 166.72 lakhs have been approved. Noteworthy is the emphasis on promoting women entrepreneurs, with 106 women among the 221 beneficiaries.
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Impact and Outreach
Transforming Lives and Livelihoods
PROJECT UDYAMEE has not only fostered a conducive environment for entrepreneurship but has also made a tangible difference in the lives of the community members. The average income of Rs. 11,066 per month for entrepreneurs under this initiative marks a substantial improvement in their financial well-being. The project has also curtailed migration, with 24 entrepreneurs now finding viable livelihood options within their communities. The cultivation of UDYOG Mitras, who serve as grassroots Industry Promotion Officers, epitomizes the project’s sustainable impact over its two-year span.
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Utkal Alumina Wins India CSR Awards 2023 for Pioneering Rural Enterprise Development with Project Udyamee
In a prestigious ceremony held on December 17, 2023, in Pune, Utkal Alumina International Limited clinched the India CSR Awards 2023 for their groundbreaking initiative, Project Udyamee – Enterprise Promotion Through Rural Incubation Centre. This innovative project, aimed at Livelihood Promotion Through Enterprise Development, has been recognized for its exceptional contribution to fostering entrepreneurship and economic development in rural areas.
This initiative not only aligns with the vision of “Atma Nirbhar Bharat” by nurturing a vibrant startup ecosystem but also demonstrates a sustainable model of enterprise development that uplifts underserved communities. The award highlights Utkal Alumina International Limited’s commitment to corporate social responsibility and their impactful work in enhancing the entrepreneurial ecosystem in rural India.
(India CSR)
