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Entrepreneurs Success Stories --> SammaN Foundation

Mr. Irfan Alam is a twenty-seven-year-old boy, an MBA from Pondicherry and the founder of the SammaN Foundation. The entrepreneurship bug bit him quite some time back. At 14, he used to manage lakhs of rupees in his father's friends portfolio. Hailing from Begusarai (Bihar), he graduated in 2002 and moved to Pondicherry for his MBA. He then enrolled for an MDP course at IIM-Ahmedabad in 2006 where he was in touch with Prof PK Sinha and Prof Anil Gupta.

The idea behind SammaaN Foundation occurred to him one blazing hot summer afternoon (1998) when he was sitting in a rickshaw. Feeling very thirsty, he asked the puller if he was carrying any water, which he obviously wasn't. This led him to think that rickshaws can be made more comfortable for passengers if they carry water, snacks etc, and this could also augment the rickshaw operator's income. Soon the idea extended to mobile recharge cards and then to using ricks as an outdoor advertising medium.

With his personal savings of Rs 10 lakh, he had launched a pilot project with 25 rickshaw pullers in Noida during 2006 which today, stands as the SammaaN Foundation having a turnover of over Rs 3 crore. Mr. Alam hopes to touch Rs 20 crore by 2012 by covering 100 cities across states like West Bengal, Orissa, Chhattisgarh, and Assam. On the cards is a plan to go public in 2012 by diluting a portion of the equity to the rickshaw pullers.

*All the Best for your great endeavors*

This post first appeared on Megatrendz, please read the originial post: here

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Entrepreneurs Success Stories --> SammaN Foundation


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