Dear volunteers

It was during the last Kutumba samavesam that we decided to have a Trust for supporting our activities in Palle Srujana. We have since registered a Trust on 14th April 2016 with the undersigned and Sri Sesi Mohan as Trustees and have started its operations. A bank account has been opened in State Bank of India, Vengalrao Nagar branch, Hyderabad.

 

As you are aware, the main purpose of the trust is to support the activities of Palle Srujana. This Trust has been formed to achieve the following objectives:

• To promote innovations for the benefit of the society.


• To support innovators in their endeavor.


• To take up any activity conducive and incidental in achieving the above objectives.

To this end, the activities listed out for support are as under:

• To scout for innovations useful to the society at large.


• Help in prototyping of such innovations.


• Provide technical support for bettering the innovations.


• Supporting in patenting the innovations, where required.


• Supporting in manufacture and marketing of the innovations.


• Supporting in further value addition, where required.


• Any other activities from time to time, which shall be necessary for the attainment of the above objectives.

The list includes all activities which are being pursued by Palle Srujana and also some which Palle Srujana wanted to support but was constrained on account of lack of support from financial institutions. The support will be extended based on availability of donations and loans that we get from volunteers, prioritising those which do not have any outside suppport.

 

You might be aware that during the last decade and upto this point, Palle Srujana was run by a few retired people and innumerable number of volunteers and at no point of time, we have asked for any donation from any individual or agency. The financial support was provided by Brig. Ganesham mainly and other full time volunteers, supporting him. The organisation was unique in its entity and endeavor. Over time, the activities increased manifold and the expectations from the innovators have also increased. Initially, we were concentrating on identification of innovations, supporting in prototyping with help and support from NIF, NABARD, etc. But, over time, with more and more ideas useful to the society coming up on one hand and lack of immediate support from support organisations, we found ourselves a little helpless and waiting for support. Some of the ideas crossed the stage of prototyping and reached a stage where the innovator is ready for manufacturing and marketing. The present banking system found wanting as they are saddled with their priorities and rules. It is for this very purpose that we felt that we require a trust to support them. Crowd funding could be  one option but before that, we decided that let us help them through our volunteer network and in the next stage go for crowd funding.

The funds requirement can be broadly classified into 3 categories:

While the activities at 1 and 4 are in the nature of grants, the activities at 2 and 3 are loans. The Trust deed says:

• The Trustees herein declared shall not undertake any activity of profit for the benefit of its members.


• However, any profits derived from its activities shall be utilised for achievement of the objectives of the Trust.

Therefore, in all cases where the funds are received by way of a loan, the surplus will be passed on to the members. The loans can be for specific periods, say 2-3 years. Howver, the amounts received as donations shall be utilised for meeting the expenses and as such, no refund will be given.

We earnestly appeal to all our volunteers to come forward and help the Trust meet our objectives. We request the volunteers to transfer the funds either as donation or loan and also mail the information to srikarjaya@gmail.com for accounting the same appropriately.

The details of our bank account are as under:

Name of the account: Palle Srujana Innovation Trust
Account No: 35906168252
Bank, branch: State Bank of India, Vengal Rao Nagar Branch, Hyderabad
IFSC code: SBIN0011659.

 

As on date, we have supported the manufacturing of Tiller by Mullapudi Satyanarayana with Rs.3.00 lakh financial support from Sri E.Suresh and have few more proposals pending for appraisal and sanction. We have also received another Rs.3.29 lakhs donation from NRI friends. We hope to get good support from many more sympathizers. With you all, we are sure to achieve our objective.

 

By the way, if you intend to transfer the money at a later date, please specify your intended contribution to enable us to plan accordingly. We are making arrangements for reporting the developments through this website on a monthly basis. This will enable you to watch the progress.

 

Srikar and Sesi Mohan