We continue our discussion on India’s economic development, and the gaining affluence of the middle class. Harish challenges the common statements that there is high economic growth, countering that the growth only affects a very limited portion of the population. SM: So the middle class has created affluence. HH: 18% of the wealth is with
Here Harish and I begin a more philosophical discussion regarding the recent economic development of India. SM: Of course the people you are dealing with are operating in a capital market, and they get rewarded by maximizing shareholder value. The solution you need does not exist. HH: The logic that we are doing it in
The recent solar energy boom in Germany has placed a significant strain on Selco. Selco will need to face the possibility of continued high demand in developed countries which are already highly industrialized, can pay big dollars, and suck up the supply of solar panels. SM: One of the points I would like to discuss
We continue our discussion on the challenges of human resources, and then move on to discuss business strategy. Selco has developed quite well to date by offering unique services and customized solutions. However, they now face the difficulty of hiring strategic thinkers who can continue this model for such low pay. The need to productize
A company like Selco must have a unique culture. Harish has explained that his company does not offer charity and he does not want his workers to have pity for people. Instead, they are intermediaries who assist individuals as they make their own changes and shoulder their own responsibilities. Doing so requires a unique organizational
The cleantech rhetoric features in every career move these days. Shai Agassi recently quit the run for the CEO job at SAP to pursue greener pastures. Sass Somekh quit as the President of Novellus to focus on alternative energy. And John Doerr seems to have abandoned his previous pet cause, Education, in favor of cleantech.
A key partnership Selco has recently achieved is with Sewa Bank. This will not only provide access to additional microfinancing, but will also provide access to more customers in a very efficient manner. SM: Let me ask you a bit more about the Sewa Bank partnership opportunity. What does it offer and how will you
In the next phase of the interview, I look to understand where Selco earns its revenues and how it plans to finance its growth. It is interesting to see the mix of social venture funds along with private foundations. SM: Of the 80,000 installations completed, have they paid you one-time fees, or do you go