See through our eyes, not your ears.
Bihari entrepreneurs win global business award
SAN JOSE — Husk Power Systems, a Bihar-based start-up that can convert rice husks into electricity, has won an inaugural global business plan competition sponsored by venture capital firm Draper Fisher Jurvetson (DFJ) and Cisco Systems.
The company will receive a $250,000 investment from DFJ and Cisco to help take the technology to the next level.
Husk Power System plant at Majhaulia in Bettiah (West Champaran)
Members presenting from the Husk Power Systems team were University of Virginia, Darden School of Business 2009 graduates Manoj Sinha and Charles “Chip” Ransler. They launched the company in 2007 with co-founder Gyanesh Pandey, a Bihar-based engineer.
“With this competition, we certainly witnessed that entrepreneurship has no borders, and we look forward to expanding it to even more universities worldwide next year,” said Tim Draper, managing director, DFJ.
“Deciding on just one winner was difficult, especially with this caliber of candidates. We are excited to have chosen Husk Power Systems, which is especially remarkable for its alternative power technology, and we can’t wait to see how this team becomes the next game changer,” he said.
HPS can cost-effectively convert rice husks into electricity, using 35-100 kilowatt “mini power-plants” that deliver power on a pay-for-use service to villages of 2,000—4,000 inhabitants in India’s rice producing regions.
The 31-year-old Sinha, who has an electrical engineering degree from the University of Massachusetts at Amherst and worked at Intel Corp., learned first hand about power shortages in India when he grew up in Bihar.
The system produces enough electricity to supply 300-500 households for 8-10 hours a day. A byproduct is silica, a valuable ingredient in making cement. There are generators in five villages currently, with the hope to expand that to 100 in a few years.
The long-term plan, Ransler told one reporter, is to profit from the global market in credits — earned by avoiding greenhouse-gas emissions, and to sell the benefit.
Husk Power Systems previously won first place in the University of Virginia business plan competition in 2008 and the social innovation competition at the University of Texas at Austin.
Judges evaluated factors including management teams, addressable market size, competitive positioning, barriers, capital efficiency and financial projections. DFJ and Cisco said they will continue to work with the winner and other finalists to mentor the “next wave of disruptive technologies.”
Both Sinha and Pandey have been featured in the Wall Street Journal, Fast Company and FOX Business.
- AGENCIES
13 Responses to “Bihari entrepreneurs win global business award”
congrats guys for turning the hostile conditions into community base entrepreneurial opportunity, I salute the team, and wish to be a part of it. Being a bettiah-ite I admired your courage and patience for bring on this technology to enlighten our fellow citizen how have been in dark since ages, we hope with you your innovation and development we may bring sparkling lights in their life. you guys are true social entrepreneurs and ad deserve the applause.
we wish one day we too are back in our home land to do some similar activity. can you please leave your address, so that when ever I am in town I will seek an appointment for a casual meeting and visit to the plant, kindly obilige.
Lots of Love and wishes
Emamuddin Ahmad
YOUR ARTICLE WAS VERY GOOD ,I WANTED TO PERSONALLY VISIT POWER PLANT AND WANT TO MEET THE PERSON INCHARGE, SO PLEASE SEND ME THE DETAILED ADDRESS OF THE PLANT AND ALSO THE CONTACT NUMBER OF THE PERSON INCHARGE
AS I RESIDE IN MUMBAI HOW SHOULD I COME OVER THERE FROM WHICH TRAIN.DIRECTLY OR PARTLY PLEASE SUGGEST ME.
dear ram parvesh
biharis appear to be born genious….if they get proper opportunity to study in good college and get fair deal they can make hundreds of inventions…
let the present govt rise to the occasion and open quality engg and medical college and ask csir to open research centres in this state if india wants to get world recognition….
Good job Biharis. We are proud of you.
Isn’t Gyanesh Pandey the same person who was victimised, abused and threatened by Nitish’s men in Patna and his friend was put up in police lockup on false charges. Gyanesh are you still there in Bihar or you’ve left as you said that time.
Please help the villages in bhojpur district and Eastern UP area too with this Husk Power generators, as they are badly in need of electricity , which has still not reached there yet.
Many Many congratulation for this. I wish i can have it in my native village and in the city i belong to. Wish u all the best for ur wonderful feat.
Good to hear such a great news. Bihar is getting Better day-by-day. May god bless you in all your endeavours. Wish you very good luck
Great work. Our state is changing for good. Glad to see how fast it is happening.
Excellent….Keep Going..Bring laurels to Bihar.
Many Many Congratulations!!!!! Push your inovative ideas to next level.Bihar is looking forward to you…..Keep it up!!!We are proud of you!!!!
All The Best To Husk Power Systems & Team…Wish you all the success in future!!!
I would visit Betiah & see your venture soon…
Many congratulations. May God shower you with all strength. My best wishes to you for all your future endeavours. I think I have seen your plant near Betiya.
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C.S.NAGESWARAN Reply:
November 24th, 2009 at 8:44 pm
congrates .we are keen to set up your mini power plant and also to use (waste silica – ash) for making bricks & pawer blocks.please send ur offer for setting plant (in around tanjore ,nagapatnam) Tamilnadu. awaitng for ur reply.
please send ur full address & contact details.
Regards.
c.s.nageswaran,prop.
LEGG&TOWW CORPN,
2.BHARATHI NAGAR,100 FEET ROAD,THARAMANI.CHENNAI. 600113
+91 9840084289 ;+91 9840426205,
TELE FAX:+9144 22436848
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