Intellecap enterprising for social change

Every year on Republic Day we showcase our strengths as a nation. We put our diversity upon display. We make a song in dance about nation building. But often important issues and constituencies lose out to clichés. In this show today we put the spotlight on the Indian women. We celebrate her successes and acknowledge her contribution to our society. We recognize the challenges that she is up against and we salute her spirit. Today's show is dedicated to the millions of Indian women who refused to be victims in an unequal society.

Aparajita Agrawal is on a mission to change India through the pier of entrepreneurship and enterprise. She is part of the founding team of Intellectual Capital Advisory Services or Intellecap. Aparajita has worked closely with co-founders Vineet and Swati Rai since 2004 to provide innovative business solutions to build and scale profitable, sustainable enterprises dedicated to social and environmental change. It started from a 2 person firm has today spanned three subsidiary companies and employs over 600 people with a group turnover of Rs 45 crore that is the target by the end of this financial year.
Aparajita Agrawal gave up her job with Care India nine years back to be a part of Intellecap. The opportunity to work with an advisory firm that positions itself at the intersection of commercial and social business sectors interested her. Working with clients across six sectors from agriculture, education, healthcare, water and sanitation, clean energy and financial inclusion Intellecap has helped raise USD 200 million in equity for businesses that impact the bottom of the pyramid. Revenues are largely driven by P-based advisory services and commissions made from investments and Aparajita and team are hoping to close this fiscal at Rs 45 crore. With an eye on the changing needs of social sector, Intellecap has evolved the services it offers.
"We are in the microfinance space. We were seeing entities that were coming up. Entrepreneurs who wanted to start up microfinance institutions are more from an NGO microfinance institution to a full profit structure, which allowed them sustainability and scale. So we realized that we cannot do all of this through Intellecap alone. That time we set up our first subsidiary called IntelleCash. It works as a Non-Banking Financial Corporation (NBFC) and has helped incubate 26 microfinance institutions in India. Our second subsidiary is called IntelleGrow which provides loans and debt support to small and medium companies. Our third subsidiary is called Intellecap Software Technology Private Ltd. This works as a software development company. It focuses completely on open-source technologies and works on providing bespoke technology solutions to social enterprises and to microfinance institutions," says Agrawal.
Having worked with institutions like World Bank, Bill & Melinda Gates Foundation, Michael & Susan Dell Foundation, Hindustan Unilever (HUL), Bain Capital and Ford Foundation to name a few, Intellecap created Sankalp in 2009 to further empower social entrepreneurs. An annual forum to bring in investors and social enterprises together, Sankalp conducts workshops, focus network meetings, educate start-ups on the emerging avenues of funding.
With its team of over 600 employees, Intellecap has reached over 70 clients in over 250 engagements across 15 countries. Some of their big ticket projects include the Lighting India Program with International Finance Corporation (IFC) which hopes to provide off-grid lighting to two million people living in rural India by 2015. Intellecap also has raised USD 4 million for Waterlife which helps to provide clean affordable drinking water in rural India. Aparajita and her team hop to start operations in South Asian and African markets by 2016, but India continues to be the big focus.
"We are also looking at going more regional in India, which means that in 2013 itself, we would definitively have more events, workshops and engagements with stakeholders that are working in special geographies like low-income states in India and the northeast," says Agarwal.
It is not easy juggling Intellecap’s network of 400 social enterprises, 300 investors and a 16-month old baby. But this is now par for the course for this 33 year old.
"Growing a business is like bringing up a baby. Both need constant attention, nurturing and love," says Agarwal. She hopes to make Intellecap a Rs 100-crore venture by 2016, her dream is to launch an online venture for her other passion - baking.