February 7, 2015 - Pune-based Persistent Systems, an award-winning technology company specialising in software product development, has announced the launch of deAsra Foundation, a not-for-profit enterprise to help individuals set up small businesses. This has been an initiative from the company's chairman and managing director, Anand Deshpande, and his wife Sonali. The Foundation will hand-hold young, skilled individuals to open businesses ranging from photography service units, small food-snack outlets, plumbing units and beauty salons, among others. The web portal of the new company would immediately start displaying business templates for 16 such small businesses.

The corpus of the Foundation would be nearly Rs 6 crore and it aims to create 1 lakh new jobs in the next four years by helping establish 25,000 small ventures. Apart from their own funds, the Deshpandes have also raised contributions from family and friends for the initiative. "India needs to generate at least 15-18 million jobs every year to meet the numbers of people joining the workforce each year. Creating entrepreneurs is the best way to generate employment at scale. Once our initiative scales, we will invest close to Rs 50 crore into the venture," said Deshpande.

In its first lot, students of 13 Pune and Pimpri-Chinchwad-based vocational institutes would immediately benefit from automated business plans prepared by the Foundation, which has also launched 'Yashaswi Udyojak', a Marathi language monthly magazine offering guidance to young entrepreneurs. "The hand-holding exercise of the entrepreneurs would be done by 'Udyog Mitras' appointed by the Foundation. They will also be provided end-to-end support and guidance at a nominal fee. This fund would be used to employ these mentors," Deshpande said, adding that the Foundation would also be taking the support of several leading banks to take it ahead.

The deAsra Foundation has been made part of the curriculum of several partner institutes of the National Skills Development Corporation (NSDC) in Pune. "Banks often ask new businesses for a plan and this is where the 16 online templates on www.deasra.in will help," he said. With 6,300+ employees, innovative business models, and reusable assets and frameworks, Persistent Systems helps customers increase revenues and margins, and enhance brand value. The company had revenue of USD 274 million in 2013-14.