Mahindra group is launching a social platform for entrepreneurs to fund their business ideas. It is launching a new website, www.sparktherise.com, on August 17. On the website, it displays ideas from 5 categories – agriculture and rural development, energy, technology, infrastructure & social entrepreneurship. Contest winners will picked basing on public voting.  Mahindra will grant 4 lakh each to top ideas to run the business for 6 months. Among these, 5 will be short listed by public voting while other 3 will be picked by a panel of judges. Top 2 ideas of the month will be eligible for additional funding. Most popular idea/spark will receive 40 lakh and 3 runners-up ideas will receive 20 lakh each in additional funding. Mahindra will spend Rs. 120 crore on Rise campaign over 3 years. Mahindra group has interests in wide areas from agriculture to airspace.  … [Read more...]