Uttarakhand Parvatiya Aajeevika Sanvardhan Company (UPASaC)
The Company is named as the ‘Uttarakhand Parvatiya Aajeevika Sanvardhan Company’ and is being initiated in the State of Uttarakhand through Rural Development Department of Government of Uttarakhand (GoUK). The UPASaC, a social venture capital company, registered under the Companies Act, 1956 on 29th March 2006, license under Section 25 of the Companies Act obtained.
The main objects of the company are as under:
- Without any motive to earn profit, to enhance and improve the livelihood for the poor in the state of Uttarakhand.
- To enhance the livelihood opportunities for the poor by providing and enabling the provision of financial services, business development services and capacity building as may help in improving the livelihood through integrated approach.
- To provide business development services including demonstration, training, consultancy and advisory services on all matters and problem relating to technical industries, administration, finance and organization management, commencement and expansion of the enterprise, purchasing techniques, production, quality control, marketing, advertising, publicity, personnel, IT services, backward and forward business linkage promotion and horizontal linkages among enterprise, export and import, to and for institutions, concerns, bodies, associations, corporations, public or local authorities, trusts, Co-operative societies.
- To help in promoting sustainable enterprise at micro, small and medium level, comprising the poor by means of joint ownership, equity, debt financing, leasing, hiring and such other means and mechanism by actively searching for investment opportunities.
- To rotate and utilize the resources of the company for ongoing building up of new enterprise by exiting the enterprises that have achieved the sustainable scales and viability, through appropriate mechanism.
- To act as catalyst in mobilizing financial resources of banks and financial institutions to Micro, Small and Medium scale enterprises to benefit the poorSee more