Quite often, entrepreneurs and small business owners happen to feel credit crunch for day to day operations and for expansion purposes. In such difficult times, bank loans are hard to come by and there are loads of regulatory hindrances as well. Niraj Goel, the charismatic NRI businessman based in Singapore has come with Singapore Innovation League, a corpus worth over a billion dollars and is aimed at helping technology companies.

Niraj Goel, the successful entrepreneur whose personal fortune is worth USD 12.9 billion and growing, launched the Singapore Innovation League on 4th July 2014, the US Independence Day. The league has been set up with a purpose of providing monetary help worth SGD 1.5 billion (around $ 1.2 billion) to 500 technology companies in Singapore to help them to expand their operations. In this way, the self made entrepreneur is set to help hundreds of others to grow big.

By providing millions of dollars worth funding to 500 companies, Goel is vying hard to make Singapore the innovation and technological capital of the world. As and when his dream comes true, Singapore will become a major technological development hub of the world, just on the lines of Silicon Valley of the US. Who knows, in the coming years Singapore based companies may rival those situated in the US, and Europe!

Need for venture capital/ angel investment

At times, college students having excellent ideas that can excel and wannabe entrepreneurs are not able to secure the necessary financing from lenders such as banks. There are multiple hurdles and regulatory frameworks that come into picture, thereby preventing these individuals from achieving their targets and realizing their dreams. In such scenarios, angel investors and venture capitalists like Niraj Goel come into picture.

Such businesspersons pour in the requisite sums of money in an emerging business and help it grow. They may have a close look at the potential of the business in question and provide appropriate funding with or without equity purchase.

Other Philanthropic Activities of Niraj Goel

Singapore Innovation League isn’t the only philanthropic activity by Niraj Goel. He has been donating oodles of charity previously as well. Besides the league, he has set up the following foundations:

Foundation Trust: To provide education to children whose parents cannot afford to send them to school.

Healthcare Foundation Trust: To provide modern healthcare facilities to the poor and needy.

Senior Citizens Foundation Trust: To help senior citizens live a life of dignity.

More About Niraj Goel: http://www.nirajgoel.com