For generations, the Parsi-Irani community was synonymous with pioneering merchants, industrialists, and visionary business leaders. However, in recent decades, a shift towards secure salaried roles saw that famed entrepreneurial drive diminish. Now, a major initiative is working to rekindle that spark among the youth.
WZCC's Silver Jubilee Convention: A Call to Action
Marking a significant milestone, the World Zarathushti Chamber of Commerce (WZCC) is hosting a three-day convention in Mumbai from January 8 to 10 to celebrate 25 years of fostering business acumen. The event aims to inspire the community's next generation, featuring addresses from titans like Cyrus Poonawalla of Serum Institute, Piruz Khambatta of Rasna, and Burjis Godrej from Godrej Agrovet.
"Twenty-five years ago, WZCC started as a flicker of an idea with limited resources. Today, it stands as an institution built on principles, with industry and integrity woven into its fabric," said Zerick Dastur, WZCC's India region president. He highlighted the expansion of membership, robust entrepreneur support programs, and focused youth engagement through initiatives like internships and a dedicated law committee.
Financial Fuel for Young Ventures
At the heart of WZCC's mission is tangible financial support. The chamber now provides substantial, interest-free startup capital to aspiring Zoroastrian entrepreneurs. In India, the Minoo Shroff Memorial Fund (MSMF) offers loans of up to Rs 25 lakh. For the global diaspora, the Zoroastrian Entrepreneurial Development Foundation (ZEDF) provides up to USD 50,000.
"A sufficient corpus has been created to service this initiative," confirmed Percy Master, WZCC Global President. The results speak volumes: 32 young entrepreneurs worldwide have already received funding, with all meeting notable success. The scheme also extends to educational scholarships for business studies.
Master emphasized the community's proud legacy of creating entrepreneurs and philanthropists. In a new outreach, WZCC is also promoting opportunities for Zoroastrian youth in Iran to connect globally and launch businesses within their home country.
A Global Network of Support and Mentorship
The WZCC's influence spans continents, with active chapters across India (Mumbai, Pune, Bengaluru), the US, Canada, West Asia, Iran, the UK, and Australia. In North America, a partnership with the Federation of Zoroastrian Associations established the ZEDF, which has funded 11 businesses in the last five years.
"The USD 50,000 loans are interest-free and repaid over four years. Crucially, business owners receive regular mentorship from industry experts," explained Arzan Sam Wadia, a director on WZCC's international board. Additionally, ZEDF awards scholarships of up to USD 30,000 annually to graduate students in North America pursuing entrepreneurship studies.
This global, structured support system signifies a concerted effort to ensure the Parsi-Irani community's storied entrepreneurial spirit not only returns but thrives for generations to come.
