Name of the Beneficiary
Hiran Naik
Name of the Enterprise Floated
Subhadra Slipper Making
Present Turnover
Rs. 55,000 Monthly
Employment Generated
1
Inital Investments
- Rs. 31,088
Funds Raised
- 16,088 as seed fund from Udyamee
Awards Received
- Entrepreneurship Award by District Industries Centre, Rayagada
Hiran Naik hails from Mailigaon, a village in the Rampur Block of Odisha. On account of his modest background, he had faced multiple struggles while growing up. After getting married in 2017, Hiran struggled to make ends meet on a meagre salary.
In 2019, with an idea to start a grocery shop, he returned to his native village. However, his business faced stiff competition when another similar shop opened in his vicinity. Over time, his sales declined, and he had to shut his business. Anxious Hiran started exploring business ideas and what caught his attention was slipper-making. He undertook research by visiting a slipper shop in Bhawanipatna to know about the demand, different varieties in the market, material sourcing, profit margins, and other business aspects. He knew somewhere that this was a profitable business, but given his first failure, he did not have the inner strength to venture out again.
Hiran joined Project Udyamee’s Entrepreneurship Awareness Programme in the hope of learning and growing in business. The programme equipped him with the knowledge and provided support to take the first step towards entrepreneurship. Through the incubation process, Hiran gained valuable insights into the various aspects of the business, including raw material quality, slipper designs, manufacturing process, machinery requirements, and networking with suppliers. This knowledge empowered him with the confidence to start his own slipper-making business.
Hiran invested ₹31,088, which included the cost of machine setup and raw material purchase. His personal contribution was ₹15000, and he received seed funding from Udyamee of ₹16088. He started selling his product in a nearby local weekly bazaar and to a wholesaler. As a result, his income started to increase. EDII mentorship was crucial for Hiran’s business growth, guidance on finance, compliances, government schemes, and operations like raw material sourcing, machinery purchase, and product development etc. He learnt how to overcome challenges. Participation in exhibitions, marketing techniques and continuous innovations have helped Hiran grow. His future plans include procuring heavy-duty automated machines, making varieties of sandals and fancy footwear.