Economy

Covid impact: The/Nudge Foundation doubles grants commitment to ₹10 crore for poverty alleviation in FY 21

Sangeetha Chengappa Bengaluru | Updated on September 18, 2020

Sudha Srinivasan, CEO of The/Nudge Centre for Social Innovation

To double the intake of non-profit start-ups into its incubator/accelerator programs

The/Nudge Foundation, through its Centre for Social Innovation announced new partnerships with Skoll Foundation, HCL Foundation and CGI India, that will double the intake of non-profit start-ups into its incubator and accelerator programs.

The new partners join Cisco, Mphasis, Facebook, IRB, Ford Foundation and Omidyar Network India in funding The/Nudge’s incubator, accelerator and research programs, taking the commitment for FY21 to ₹10 crore.

“We are witnessing a dramatic increase in poverty for the first time in several decades. The problems in every area of the development sector have changed, and solutions too need to keep pace with the needs of the post-Covid normal. There is an urgent need to invest in fundamental innovations for education, livelihoods, healthcare, sanitation and other life needs at the bottom of the pyramid. We are glad to double our support to non-profit start-ups this year.” said Sudha Srinivasan, CEO of The/Nudge Centre for Social Innovation.

Promoting philanthropy

Skoll Foundation is a global leader in promoting philanthropy and advancing social progress worldwide. The foundation was among the first to quadruple its grants for this year to combat the global pandemic.

“The Skoll Foundation firmly believes in supporting innovative non-profits that advance social progress worldwide. We are delighted that our partnership enables The/Nudge Foundation's Centre for Social Innovation to support innovative and proximate nonprofit start-ups preparing for growth and scale” said Jude O’Reilly, Vice-President, Portfolio & Investments, Skoll Foundation.

With this partnership, Skoll Foundation marks its first venture philanthropy grant in India which enables The/Nudge Centre for Social Innovation to fund three additional start-ups in their scale-up stage over two years.

HCL Foundation and CGI India also announced their support for non-profit start-ups accelerating India’s response to Covid-19 in areas like education, gender and entrepreneurship.

The/Nudge Incubator nurtures early stage non-profit start-ups solving problems of poverty. Applications are being accepted for the next cohort on https://csi.thenudge.org/

Published on September 18, 2020

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