Introducing Aniket from Haqdarshak
Q: Could you introduce yourself and your startup, Haqdarshak?
A: I’m Aniket, the founder and CEO of Haqdarshak, a technology company focused on creating social impact. We aim to bridge the gap between citizens, small businesses, farmers in India, and the government’s social security and support programs. With India’s vast population of 1.4 billion, about a billion people are eligible for various government subsidies and support, ranging from solar pump installations to pensions and health insurance. However, the challenge lies in reaching this largely digitally and financially illiterate population, who often lack access to smartphones and the internet.
Haqdarshak addresses this by utilizing an AI-based platform that matches individuals or businesses with eligible government programs. To complement this technology, we employ field agents, primarily women entrepreneurs in rural areas, who use their smartphones to inform communities about their eligibility and assist them with the application process. This model not only facilitates access to government benefits but also empowers these agents economically.
Our business model is primarily B2B, partnering with over 100 companies in India that employ workers, collaborate with farmers, or work with small businesses. These companies sponsor our services as part of their corporate social responsibility (CSR), environmental, social, and governance (ESG) initiatives, or HR mandates. Over the past eight years, Haqdarshak has grown to a team of 600, with 10,000 women agents across India, helping nearly 6 million people access around USD 2 billion in government benefits.
Why Village Capital?
Q: How did Village Capital become involved with Haqdarshak?
A: Our initial encounter with Village Capital occurred through an early accelerator program facilitated by the Omidyar Fund in India, back in 2017. At that juncture, Haqdarshak was still in its infancy, not having completed even two years. The accelerator was pivotal in shaping our early days, offering business support, market testing guidance, expert advice, and potential funder introductions. Despite facing several rejections, these interactions were invaluable in refining our business model and understanding areas for improvement.
Our relationship with Village Capital evolved over the years, maintaining informal connections through various forums and programs they organized. This network proved beneficial as Haqdarshak grew and secured funding from other impact funds. In 2022, our partnership with Village Capital came full circle when I was invited to serve as an advisor and mentor for their financial inclusion accelerator, recognizing our progress and model validation over the years.
The continuous engagement culminated in 2023 when we were in the process of raising our pre-series A round. Reaching out to Village Capital’s senior leadership, we found alignment with the VilCap-managed Financial Health Innovation Fund, leading to their investment of USD 250K in Haqdarshak. This investment not only bolstered our capital but also solidified Village Capital’s role in our journey from supporting our startup through its programs to eventually becoming an investor. This progression underscores the lasting impact and support Village Capital has provided Haqdarshak from our formative years to our current growth phase.
Funding and Equity in Village Capital’s Program
Q: What financial support does Village Capital provide to startups in their program, and are there any fees or equity requirements?
A: Village Capital programs are completely free and focused on supporting locally-led and impact-creating startups to build the social, human, and financial capital they need to scale their impact and businesses.
Their VIRAL (Venture Investment-Readiness and Awareness Levels) Pathway empowers entrepreneurs with self-awareness and a clear understanding of just how ready they are for investment. Using an investor lens, participants explore all aspects of their businesses, from forming teams and setting milestones to developing exit strategies. This framework was a useful self-assessment tool, helping us highlight areas for improvement and engage with potential investors. Additionally, they recently launched a new tool, Capital Explorer, which further helps entrepreneurs explore the broader spectrum of funding options, empowering them to make strategic decisions that align with their mission and vision.
While the program we engaged in did not offer direct financial support to startups, the organization typically incorporates pass-through equity-free grant funding into their programs, awarded using a peer-selection process. This approach places investment decision-making power directly in the hands of entrepreneurs in the program.
How a Founder Gets In
Q: What was the application process for Village Capital like?
A: The application process for Village Capital was straightforward and tailored to accommodate early-stage entrepreneurs. Recognizing that startups in their nascent stages might not have extensive data or results to present, the focus was more on the vision and potential impact of the enterprise. This approach ensured that even young startups, like Haqdarshak at the time, could articulate their mission and planned impact without the pressure of providing substantial empirical evidence of success. The simplicity of the application process reflected Village Capital’s commitment to fostering innovation and supporting entrepreneurs at the earliest stages of their journey.
Q: Do you have any advice for entrepreneurs applying to Village Capital?
A: For entrepreneurs considering an application to Village Capital, clarity and focus are paramount. It’s crucial to have a well-defined problem statement and a clear vision of what you aim to achieve. Be precise in how you articulate your mission, your approach to addressing the problem, and the specifics of your product or solution. Having a solid grasp of your numbers and demonstrating a clear understanding of your business model will strengthen your application.
One common challenge for entrepreneurs is the tendency to want to tackle multiple objectives simultaneously. However, for the purposes of your application—and indeed, for the initial stages of your startup—it’s beneficial to narrow your focus to a singular, compelling goal. This focused approach not only makes your application more compelling but also aligns with the Village Capital program’s objective to support startups with a clear and impactful mission.
A Typical Day in the Village Capital Program
Q: What was a typical day like once you were part of the Village Capital program?
A: In the Village Capital program, the structure was designed to balance the need for regular engagement with the flexibility for entrepreneurs to continue their day-to-day operations. Our involvement didn’t require daily attendance at the accelerator; instead, there were weekly or fortnightly check-ins and meetings. These sessions were crucial touchpoints with stakeholders, experts, and mentors tailored to our startup’s needs, offering invaluable insights and guidance.
During my initial participation, many of these sessions were held in-person, particularly in Bangalore, providing opportunities for direct interaction and networking. However, in my later role as an advisor, I noticed a shift towards online meetings, reflecting the broader adoption of remote engagement practices post-COVID. Entrepreneurs were expected to attend these pre-scheduled sessions, whether online or offline, fully engaging with the content and the Village Capital leadership teams. Outside these sessions, we were encouraged to proceed with our usual business activities, applying the insights and advice received during the program to our ongoing work. This blend of structured learning with operational continuity allowed us to maximize the benefits of the program without compromising our startup’s progress.
Standout Moments in the Village Capital Program
Q: Reflecting on your experience, what was a standout moment or aspect of the Village Capital program?
A: A defining feature of the Village Capital program that made it particularly worthwhile was its deep alignment and understanding of the needs specific to social enterprises. The program is adept at customizing its support, offering solutions and connections that are immediately applicable and beneficial for the startups involved. This bespoke approach is invaluable for young entrepreneurs and enterprises poised at the brink of scaling, providing them with the resources, knowledge, tools, insights, and networks necessary to elevate their ideas from the testing phase to significant growth. The program’s emphasis on tailoring its offerings to the nuanced requirements of each participating enterprise ensures that the guidance and support received are not just generic advice but targeted interventions that can lead to tangible outcomes. For Haqdarshak and for others with a focus on social impact, Village Capital’s ability to understand and address our unique challenges and opportunities was a standout aspect, making our participation a pivotal moment in our journey toward growth.
Areas for Improvement in the Village Capital Program
Q: Is there an aspect of the Village Capital program you believe could be enhanced?
A: Reflecting on my experience, which dates back about six years, the program was executed commendably, particularly in fostering multiple stakeholder partnerships. However, if there’s an area for potential enhancement, it would be in embracing a more hybrid approach to the sessions. While the program already incorporates a mix of online and in-person interactions, increasing the frequency and depth of these physical meetings could amplify the benefits.
The value of peer feedback and the unique dynamic of startups rating each other are among the standout features of Village Capital’s approach. These interactions foster a rich learning environment and a sense of community among participants. Enhancing the opportunity for startups to engage more frequently and meaningfully in person could further enrich this aspect, leveraging the collective wisdom and experiences of the cohort. In today’s logistical landscape, striking the right balance between online convenience and the irreplaceable value of in-person exchanges could elevate the program’s impact on participating enterprises.
Haqdarshak’s Post-Accelerator Achievements
Q: How has Haqdarshak evolved since participating in the Village Capital accelerator, and do you attribute part of your current success to the program?
A: Reflecting on our journey from a fledgling enterprise of one and a half years at the time of the accelerator to an established organization of eight years today, it’s challenging to attribute our current position solely to our participation in Village Capital. However, there’s no denying the significant impact the accelerator had on our growth trajectory at that crucial early stage. The Village Capital brand carries considerable respect and integrity within the ecosystem, and being able to associate Haqdarshak with this prestigious accelerator undoubtedly bolstered our credibility among stakeholders. The connections and the ecosystem access facilitated by Village Capital were invaluable, offering us a platform to establish ourselves and gain recognition. While it’s a complex task to quantify the exact contribution of the accelerator to our current status, it’s clear that our involvement with Village Capital was a positive and influential experience. It provided us with a solid foundation, helping us navigate the initial challenges of startup growth and development.
Haqdarshak’s Ongoing Relationship with Village Capital
Q: How has your relationship with Village Capital evolved since participating in their program?
A: Since participating in the Village Capital program, our relationship has significantly evolved and deepened over the years. Being invited back as a mentor and advisor was a notable milestone, reflecting the mutual respect and value between Haqdarshak and Village Capital. This transition from a program participant to a mentor role, and eventually having Village Capital as an investor on our cap table, symbolizes the full-circle journey we’ve had with them.
Our interactions have always been characterized by open communication and accessibility, qualities that have persisted despite changes in Village Capital’s management team over time. They have remained supportive, providing valuable feedback and connections that have contributed to our growth. Now, with Village Capital as an investor, our relationship has entered a new phase of collaboration, marked by a strong and positive rapport. This enduring connection underscores the lasting impact of our initial engagement with the accelerator, continuing to influence Haqdarshak’s journey positively.
Final Advice for Aspiring Village Capital Applicants
Q: What final advice would you offer to someone looking to apply to Village Capital or similar programs?
A: For entrepreneurs eyeing Village Capital or any accelerator, the essence of your application should revolve around a deep, unwavering focus on the problem you aim to solve. Your solutions and approaches might evolve over time, influenced by factors like technological advancements, geopolitical shifts, and sector-specific challenges. However, your commitment to addressing the core problem should remain steadfast. Flexibility in how you propose to solve the problem is key. While it’s crucial to be passionate about the issue at hand, being too rigid about your solution can be a hindrance. Accelerator programs, with their varied emphases—be it on technology, human resources, or another aspect—offer opportunities to refine your approach. Tailor your solution to align with the program’s focus, demonstrating adaptability without straying from your mission.
Each application you submit should be thoughtfully crafted and specific to the program you’re applying to. Resist the temptation to reuse content without customization. The effort you put into personalizing your application can significantly impact its success. Moreover, embrace the journey of applying to accelerators as a learning experience. Rejections are inevitable but not indicative of failure. Instead, they are valuable milestones for reflection and improvement. Success in competitions and accelerator admissions is a numbers game; persistence is crucial. Celebrate your wins, learn from the setbacks, and continue applying with renewed insight and determination. You can learn more about the current programs and open applications by visiting their programs page here.