We bring to you an insightful conversation with Lian Thangvung, Founder and CEO of QONECT, as this interview will walk us through Lian’s journey of how a deeply personal loss of losing his father due to the inability to afford a life-saving liver transplant—shaped the vision behind the company. This article will look upon QONECT’s mission to empower marginalized communities by providing access to credit, micro-insurance, and emergency funds, thus breaking the cycle of financial exclusion.
Lian reflects on the challenges he faced while starting a socially-driven business, from securing
funding to navigating the technological needs of these underserved and neglected regions. QONECT leverages technology to bring financial services to more remote corners of the country, focusing on building trust through community engagement and word-of-mouth referrals.
Despite facing resource constraints and difficulties scaling in a region affected by conflict, the founder’s resilience and focus on empathy and collaboration have been key to the organization’s growth. QONECT is creating lasting social change, empowering individuals to access financial protection and build a better future.
How did the loss of your father shape your vision for QONECT?
Losing my father due to a lack of funds for a life-saving liver transplant left a lasting impact on me. Experiencing the pain of being unable to afford necessary medical treatment for a loved one was devastating. It motivated me to create a solution that would help others avoid such hardships. I truly understand this problem on a personal level, which drives me to build something meaningful for people in similar situations.
What were some of the biggest challenges you faced when starting QONECT?
The biggest challenge was figuring out where to start, especially when it came to raising funds. Facing rejection after rejection was disheartening, and building a scalable, sustainable, and investor-worthy business felt overwhelming. However, by learning from our mistakes and staying persistent, we eventually built a foundation we are proud of.
How do QONECT’s services empower marginalized communities?
Our services empower marginalized communities by providing access to formal credit, which breaks the cycle of “no loan, no credit history.” By building their credit scores, they can eventually access low-interest loans in the future. Micro-insurance protects them financially during medical emergencies or hospitalizations, and access to emergency funds ensures they can seek timely medical care without hesitation, avoiding high-interest loans from private lenders.
How does QONECT leverage technology to make financial security accessible?
Technology enables us to bring credit and insurance services directly to underserved, remote areas. Processes like user onboarding, credit underwriting, and issuing insurance policies can now be done within minutes. However, our target segment often struggles with digital literacy, so we prioritize awareness campaigns alongside tech solutions. Continuous development of technology to meet their needs is crucial, though we face resource constraints in achieving this.
How does QONECT build and maintain trust with its users?
Building trust is one of our biggest challenges. We rely heavily on word-of-mouth referrals, testimonial videos, and endorsements from local community leaders and prominent figures to establish credibility and strengthen relationships with our users.
Can you share a success story where QONECT made a significant difference?
Yes! We helped Mr. Lianlal save ₹23,000 during his son’s head surgery at Shija Hospital in Imphal. More recently, we assisted Mr. Biaklian from Shillong by covering the costs needed for his wife Moite’s delivery, allowing them to welcome their beautiful baby boy.
What obstacles have you faced in scaling QONECT, and how are you addressing them?
Scaling a socially driven business comes with resource limitations, especially in a violence-affected region like ours, where potential investments are depleted. Additionally, finding lenders willing to offer loans to people in Northeast India is challenging. We are addressing this through persistence, partnerships, and innovative financial solutions.
What leadership values do you believe are essential for driving meaningful change?
Empathy to understand and address community needs, integrity to build trust, resilience to overcome challenges, and collaboration to amplify impact are essential for leading meaningful change in the social impact space.
How do you balance running a growing business with maintaining personal well-being?
Honestly, I am still struggling to find the right balance. It’s an ongoing challenge, and I’m constantly learning and seeking ways to manage both effectively.
Where do you see QONECT in the next five to ten years?
My primary focus is to make QONECT sustainable, with or without my presence. I aspire to expand our services across India and build a strong foundation for long-term impact.
What advice would you give to men aspiring to launch purpose-driven ventures?
Trust yourself and follow your beliefs. Don’t compare your journey to others, and most importantly, never give up on yourself. Stay resilient and stay focused.
How do you define success, personally and professionally?
To me, success is defined by the impact we create. If I can help transform lives and reach a point where QONECT operates on autopilot, that would be my ultimate professional success. Personally, success means making a meaningful difference in the lives of others, far beyond monetary achievements.
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