Three Indian American-founded companies were recently cited as businesses making the world a better place, according to an article published by Inc.com.
San Francisco-based Kiva; Pleasanton, Calif.-based KalpTree Energy; and Livermore, Calif.-based POC Medical Systems were all noted in the post submitted by entrepreneur and investor John Rampton.
Premal Shah is the president and co-founder of Kiva, founded in 2005. The mission of Kiva, a nonprofit, is to connect people through lending to alleviate poverty.
The company partners with microfinance institutions through the Internet and a worldwide network to let people all over the world borrow as little as $25 to start their own business and become self-sufficient. Since its inception, more than one and a half million people have borrowed money with about $722 million in loans divvied out across 86 countries. The repayment rate is 98.71%.
Said Rampton, “Kiva has helped countless people start their small businesses and become successful in their own right when they had no other sources to borrow money. This growth in self-sufficiency in many developing countries is helping to empower a huge number of individuals, increasing their personal purchasing power, and is lifting them out of poverty.”
POC, or Point-of-Care, Medical Systems was founded in 2013 by serial entrepreneur Sanjeev Saxena. Saxena serves as the CEO of the company.
The company was born as a result of the need for creating diagnostics which would be available for the larger population, and it brings accessible, next generation diagnostics to market.
POC has a patent-protected Point of Care Testing product for breast cancer.
“Imagine how much better the world would be if we could save millions of lives with the ability of early detection in breast cancer, and many other life-threatening diseases,” Rampton writes. “We would have a greater chance to stem the tide of the heartbreak of the loss of wives, mothers, sisters and friends to this devastating disease.”
KalpTree Energy, founded by Deepak Upadhyaya in 2012, has invented battery and active component manufacturing platforms and is currently commercializing a solid state battery architecture technology for commercial and military applications.
In addition, the company developed a Li-ion rechargeable battery that overcomes the weight, safety, volume, and form factor limitations that traditional lithium-ion batteries have, leading to new safety and cost-saving features.
KalpTree’s mission is to transform the way people use portable energy by creating revolutionary batteries architecture which will help enable its partners to develop new, breakthrough products with greatly-enhanced safety and performance.
“The freedom in design from these batteries can alter many items we use on a daily basis, reduce negative environmental impact, and provide a solution that is accessible for more people around the world,” Rampton noted.