Rebooting a company
In a poor, starved country with rich resources but weak management skills, Mukund BS, a 33-year old electronic engineer and IIM graduate, has harnessed the idea of recycling computers and making them more affordable. He got a brainwave of reviving old computers, gave his company the apt name of Renew It in 2009 and launched it in 2010.
After a year of intensive research and effort, including marketing, management and fund raising, the company soared into the market. Today, he brings together scrap from corporates, assembles the parts and sells computers at affordable rates to those who need them after adequate repair and maintenance.
With his cousin, Raghav Boggaram as co-founder, Renew It has swelled to include seven technicians and sales persons. They all collect scrap, build up working machines and sell them. The entire process is fairly simple, as each machine takes only two to three weeks to fix.
In five years, 10,000 computers have been sold. With their family’s support, they managed to get the finances together. They started with an initial capital of Rs. 20 lakh and generate about Rs. 50-Rs.60 lakhs today.
With the evolution of technology, however, the entire organization might change, as there is a continuous shift all the time. “I don’t know how useful computers will be in future,” Mukund says. As enough scrap is not available, and customers are not completely aware of the techniques and skills needed to handle them, people tend to “kill” their machines quickly.
Having started in Bangalore, the company has branched out to Hyderabad and Mumbai. They provide after-sale services to their clients freely for a year.
Check out their website or Facebook page for more details.