Biography of Aniket Doegar: Founder & CEO of Haqdarshak- Entrepreneur
Biography of Aniket Doegar:
Aniket Doegar, the co-founder and CEO of Haqdarshak
Empowerment Solutions, has been making waves in the social impact sector for
over eight years. Hailing from Shimla, Aniket has worked in various development
roles, including as a Teach For India fellow. He is an alumnus of the
prestigious Shri Ram College of Commerce (SRCC) in Delhi. His journey began
with a strong desire to create change, which led him to co-found Haqdarshak in
2015. Aniket’s vision was clear: to bridge the gap between marginalized communities
and the government’s welfare schemes through technology.
The Birth of Haqdarshak
In 2015, Aniket co-founded Haqdarshak with a goal of making
government welfare schemes more accessible to the people who need them most.
Haqdarshak is a mobile and web platform designed to help individuals,
particularly in rural India, identify and apply for various government schemes
and services that they qualify for. The platform connects beneficiaries with
trained facilitators who help them navigate the often complex and bureaucratic
process of applying for benefits. The service is available in multiple
languages and across several states, making it more inclusive and far-reaching.
A Helping Hand for the Marginalized
Haqdarshak addresses a significant problem in India: the
lack of awareness and accessibility regarding government schemes. Many of these
programs exist to help marginalized communities, but due to poor awareness and
complicated application processes, they often go underutilized. By providing
easy access to scheme details, eligibility criteria, and application
procedures, Haqdarshak helps individuals access critical financial assistance
and services, thus improving their quality of life and supporting micro-businesses.
The Technological Edge
What sets Haqdarshak apart is its use of technology to
simplify the application process. The platform digitizes information about
government welfare schemes, providing a one-stop solution where citizens can
check their eligibility and access application support. This technological
approach eliminates many of the barriers to accessing government services,
making the process faster, more efficient, and transparent.
Bringing Services to the Doorstep
In addition to its digital platform, Haqdarshak offers a
doorstep registration service, where trained agents visit beneficiaries in
their local areas to guide them through the application process. This service
is particularly valuable in rural areas, where access to technology and
information is limited. Haqdarshak’s vast network of agents, over 25,000
strong, plays a key role in reaching the underserved populations and providing
them with the assistance they need.
Overcoming Financial Hurdles
Despite the positive impact, Haqdarshak faced challenges in
scaling its operations due to its business model. The company primarily
operates in a high-volume, low-margin environment, which makes acquiring
customers a costly and time-consuming process. The company reported sales of
INR 15.5 crore in FY 2021-22 but struggled with profitability due to the
challenges of customer acquisition and operating costs. However, they projected
a jump to INR 30 crore in sales for FY 2022-23, signaling the company’s growth
potential.
The Shark Tank India Opportunity
Haqdarshak got a major platform to showcase its business
when Aniket appeared on Shark Tank India in Season 2, Episode 6. He pitched his
business asking for INR 1 crore for 0.5% equity at a valuation of INR 200
crore. Aniket explained to the sharks that, while the Indian government offers
over 1,300 welfare schemes, many of them fail to reach their intended
beneficiaries due to a lack of information and complex application procedures.
The Sharks’ Reaction
The sharks were impressed by the social impact Haqdarshak
had already achieved. Aniket shared that Haqdarshak had already assisted over
25 lakh people and 5,000 micro-businesses across India, helping them access
essential government services. Vineeta Kapoor appreciated the efforts of the
company in serving the marginalized communities, and the sharks were eager to
learn more about the business's operations.
The Product Demo and Innovation
During the pitch, Aniket demonstrated Haqdarshak’s platform
through an agent named Jyoti Mule. The demo showed how the platform helps users
fill out a questionnaire to determine their eligibility for various welfare
schemes. Aniket also introduced the newly launched "Yojana Card,"
which helps users discover which government schemes and financial services they
qualify for. The sharks were particularly impressed with this innovative
product, which had the potential to further streamline the process.
Biography of Aniket Doegar: Founder & CEO of Haqdarshak- Entrepreneur /marginalized communities to government/age/net worth/investor/startup/Haqdarshak
The Women-Driven Team
One of the standout features of Haqdarshak’s operation is
its team composition. Aniket revealed that he has an all-women Chief Experience
Officer (CXO) team and that nearly 90% of their agents are women. This focus on
empowering women not only helped create jobs for women but also aligned with
the company’s social mission of supporting marginalized communities, especially
women.
Sales and Financials
When asked about the company’s sales figures, Aniket shared
that Haqdarshak was profitable up until FY 2020-21. However, it faced a loss in
FY 2021-2022, which raised some concerns among the sharks. Namita Thapar, one
of the sharks, was curious about the company’s profitability and the challenges
it faced in scaling. Aniket acknowledged the hurdles but reassured the sharks
that Haqdarshak had a strong growth trajectory and was projected to increase
its sales to INR 30 crore for FY 2022-23.
The Pitch Outcome
The pitch concluded with Peyush Bansal making a bold offer
of INR 1 crore for 2% equity, valuing the company at INR 50 crore. He
recognized the potential of Haqdarshak’s social impact and the clarity of
Aniket’s vision. While Anupam Mittal expressed admiration for the company’s
impact, he felt that Peyush’s offer was the best. On the other hand, Namita
Thapar and Aman Gupta offered INR 50 lakh for 1% equity each, along with INR 50
lakh debt at 10% interest, matching Peyush’s valuation.
Aniket's Counteroffer
After considering the offers, Aniket made a counteroffer to
the sharks. He proposed giving 0.5% equity to each of the three sharks in
exchange for INR 33 lakh each, rather than a 2% stake to Peyush. This
negotiation showcased Aniket’s strategic thinking and his commitment to raising
capital while maintaining a significant portion of ownership.
The Final Deal
The deal was finalized when Peyush, Namita, and Aman
collectively agreed to invest INR 1 crore for 2% equity at a valuation of INR
66.67 crore. This deal not only provided Haqdarshak with the capital it needed
to scale but also gave the company a strong partnership with influential
investors who believed in its mission to make government welfare schemes more
accessible to marginalized communities.
A Vision for the Future
With this new funding, Aniket and his team at Haqdarshak are
poised to expand their operations and make a greater impact. Aniket’s long-term
vision is to transform Haqdarshak into the most prominent social security
company in India within the next ten years, helping millions of underserved
citizens access the benefits they deserve. With the backing of Peyush, Namita,
and Aman, Haqdarshak is well on its way to achieving this ambitious goal.
Recognition and Impact
Aniket’s efforts have not gone unnoticed. He was selected
for Forbes 30 Under 30, Asia, recognizing his contribution to the social impact
sector. Haqdarshak’s work continues to be a beacon of hope for marginalized
communities across India, helping them break free from poverty by connecting
them to essential government resources. Aniket’s journey from a social
entrepreneur to a leader in the development sector is a testament to the power
of technology and innovation in solving pressing social challenges.
A timeline for Aniket Doegar's journey with Haqdarshak:
Before 2015: Aniket worked in various development roles,
including as a Teach For India fellow.
2015 - Haqdarshak's Founding: Aniket co-founded Haqdarshak
Empowerment Solutions with a mission to connect marginalized communities to
government welfare schemes.
2016-2020: Haqdarshak grew, offering services through its
platform and expanding its reach across India, helping over 25 lakh people.
2021 - Shark Tank India Pitch: Aniket pitched Haqdarshak on
Shark Tank India, seeking INR 1 crore for 0.5% equity at a valuation of INR 200
crore.
2021 - Sharks’ Offers and Counteroffer: Peyush, Namita, and
Aman collectively agreed to invest INR 1 crore for 2% equity, valuing
Haqdarshak at INR 66.67 crore after Aniket's counteroffer.
2022 - Expansion Plans: With the investment, Haqdarshak
aimed to scale, targeting INR 30 crore in sales for FY 2022-23.
2024 and Beyond: Aniket’s vision is to make Haqdarshak the
leading social security company in India, helping millions access government
schemes.
Recognition: Aniket was selected for Forbes 30 Under 30 Asia
for his work in the social impact sector.
