the3h - Hum Hain Hindustani
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India to get face-to-face consultation by international doctor | Express Healthcare, 22 jan 2020
After IMF, another ratings agency places India's GDP growth in 5% bracket | India Today, 22 jan 2020
Indian businesses most likely to have 'high impact' of cybersecurity incidents | Deccan Chronicle, 22 jan 2020
India should induct new ways in Education to tackle Sustainability and Climate Issues: UNESCO | Campus Varta, 21 jan 2020
Next problem for Indian economy: Fuel shortage for domestic shipping | ThePrint, 21 jan 2020
Guaranteeing healthcare, the Brazilian way | The Hindu, 20 jan 2020
Why it is critical to transforming Indian agriculture | Financial Express, 19 jan 2020
Open up your education system, India told | Times Higher Education, 17 jan 2020
Need To Rethink Higher Education In India | Entrepreneur, 16 jan 2020
Young India is demanding better healthcare | The Times of India, 16 jan 2020
Mohammad Anas Wahaj | 28 dec 2019
According to nseinfobase.com, CSR spends of Indian corporates have increased 17.2% to Rs. 11867.2 crore in FY19 from Rs. 10128.3 in FY18. This is the highest spend since FY15 (Rs. 6552.5 crore), when the CSR spend was made mandatory through Companies Act 2013. It is observed that corporates are increasingly using their CSR spends on charitable contributions. The highest amount of Rs. 4406 crore were for schedule VII (II) that focuses on education. The next big spend was Rs. 3206.5 crore under VII (I) for eradicating hunger, poverty, malnutrition and promoting health and hygiene. Rural development got Rs. 1319 crore and remaining went for projects that include environment protection, benefits to the armed forces, disaster management etc. From geographical point of view Maharashtra and Gujarat were at the top to get contributions while Bihar and North-East states got the least CSR funds. Experts say that large spends have also seemed to have prompted closer attention to how the money is spent. Amit Tandon, founder and MD of Institutional Investor Advisory Services India (IiAS), says, 'There are more and more companies who are doing impact assessment...people recognise the need to do it.' Pranav Haldea, MD at Prime Database, says, 'Low CSR budget could act as a constraint for some companies to adopt monitoring mechanisms. It may only make sense for firms with very large budgets. Smaller companies may find it too expensive to employ an agency for external audits on a regular basis.' Read on...
Companies spent Rs 11,867 cr on CSR activities in FY19; highest so far
Author: Sachin P. Mampatta
Mohammad Anas Wahaj | 25 dec 2019
Social enterprises can become an important pillar of Indian economy just like corporations and businesses. India has more than two million social enterprises that include nonprofits, for-profits and hybrid models. According to a McKinsey study, 'impact investors' in India poured a total of US$ 5.2 billion between 2010 and 2016, with substantial focus on sectors like financial inclusion and clean energy. A survey conducted by Brookings India found that 57% of the social enterprises identify access to debt and equity as a barrier to growth and sustainability. In the budget Indian government proposed a social stock exchange (SSE) to list social enterprises and voluntary organisations. Suresh K. Krishna, MD and CEO, and Geet Kalra, portfolio associate, at Yunus Social Business Fund, explain what benefits this social stock exchange will bring to the social enterprise ecosystem and suggest that careful planning is needed in designing it. They explain, 'SEBI (Securities and Exchange Board of India) set up its working committee on SSEs on September 19, however, many experts have already proposed distilling learnings from those of other countries. Some of these exchanges are either information sites, like in the case of the London Stock Exchange, or list nonprofit projects only. Canada's Social Venture Connexion (SVC) and Singapore's Impact Investment exchange are more advanced in terms of accreditation, valuation and monitoring, whereas the Brazilian model didn't use such valuations at all. While formulating a similar product for India, we need to have an extensive as well as 'cautious' approach. There is no consensus in the wider social impact community about what is and isn't a social enterprise, therefore the definition itself first needs more objectivity...Once we have a shared frame of reference in place, we can design impact valuation parameters for social enterprises based on social and environmental mission, target beneficiaries, service delivery, stakeholder involvement, and impact measurement.' SSE listing will provide visibility to social enterprises and assist in attracting funds in the form of private equity and debt. Listing debt products on the SSE would encourage banks, NBFCs (Non-Banking Financial Company) and other investors to participate in the growth of social enterprises and enhancing their impact. Moreover, SSE impact valuation will encourage development of more innovative financial products. SME exchanges operated by BSE and NSE can also provide valuable learning in effectively designing SSE. Mr. Krishna and Mr. Kalra suggest, 'For a social stock exchange to meet its intended objectives, we need to take measures such as: educating market participants about the valuation metrics weighing both on social and financial returns; amplifying the efforts of creating and supporting social businesses; bringing policy and regulatory reforms to support investors, and facilitating research and development for small social enterprises.' Read on...
A social stock exchange will help in raising capital
Authors: Suresh K. Krishna, Geet Kalra
Mohammad Anas Wahaj | 25 jul 2019
According to the online research by Booking.com, 59% of youth surveyed want to give back to society as part of their travel experience. This is almost double the global average (31% of Gen Z) that want to volunteer while travelling. Report surveyed 21807 respondents of 16 years or above in 29 markets with about 1000 from each country. 71% of Gen Z travellers consider volunteering as enhancement to their trip's authenticity - more interaction with local people and making a difference. Sustainability travel is also on the rise with care for environment at the top of traveller's mind. Ritu Mehrotra, country manager India at Booking.com, says, 'Over 71% of all travellers want to reduce their carbon footprint by limiting the distance travelled. This number increases further among the Gen Z to 76% as they want to use more environmentally-friendly transport, walking or biking, during the holidays.' Read on...
More youth want to volunteer while travelling: Report
Mohammad Anas Wahaj | 30 jun 2019
According to 'Annual Status of Education Report (Aser) 2017' by nonprofit Pratham, about 42% of rural youth between the ages of 14 and 18 were employed in January 2018, despite going to school. Among these, 79% were working in agriculture, while at the same time only 1.2% of the youth surveyed wanted to become farmers. India's rural population residing in about 600000 villages has not benefited substantially from economic growth and opportunities are limited, resulting in large migration of youth to urban areas in search for greener pastures. But, they are not well equipped in terms of education and skills, to compete in a challenging urban environment to avail better opportunities and respectable lifestyle. Education, coupled with skill development, is the key to bring them at par with their urban counterparts. Ashweetha Shetty, founder of Bodhi Tree Foundation, is trying to bridge this rural-urban divide by building confidence and self-esteem among young people living in rural areas. Explaining the work of her nonprofit, Ms. Shetty says, 'Our foundation works with rural youth between the ages of 17 and 23. We help them build life skills and enlighten them about opportunities. We achieve all this through intervention at our village centers. We have a residential program for girls, and we also work with district administrations on initiatives, particularly those which concern the children of sanitation workers. Most of the rural youth we help are usually first generation college goers. Bodhi Tree helps them to think about their future. These young kids have many inferiority complexes, and there is an information gap. We are trying to bridge that through our organization.' Regarding the life skills that her organization is trying to build, she says, 'We do self-development, self-awareness workshops, and provide exposure to opportunities - we help the children to discover what they want to do in life and understand their strengths and weaknesses. We enable them to develop themselves through public speaking and other skills. We also conduct workshops on resumé writing to help them achieve their goal.' Differentiating her nonprofit from skill building organizations, she says, 'Bodhi Tree is completely different from skill building organizations. We don't want to build a skill in someone and send the message that it's the only thing they can do. Skill building programs have no progression, no scope for dreaming. I feel it robs opportunities from the children. Children should have access to government jobs, schemes, internships - they should have knowledge and know what to do with it. I think that's the difference between us and skill building initiatives. Maybe our model is not working that well because we are not focused on one skill, but I think this is a conscious choice we have made where we don't tell people about what skills they can inculcate. Rather, we tell them what kind of dreams you should have, we make people realize their potential. For us, the immediate impact is more like standing up for yourself and going to college.' Read on...
Helping India's Rural Youth Unlock Their Potential
Authors: Ankita Mukhopadhyay, Ashweetha Shetty
Mohammad Anas Wahaj | 22 may 2019
India's CSR legislation is a step in the right direction and is globally praised. Recently, 47 participants from 33 global multinational companies that are associated with WBCSD (World Business Council for Sustainable Development) visited India to learn about sustainable businesses. WBCSD Leadership Program is a year-long series of engagements and learning exercises in partnership with Yale University. Rodney Irwin, Managing Director of WBCSD's Redefining Value and Education program, says, 'The legislation asking large companies to spend 2% of their profit on corporate social responsibility (CSR) is appreciable, but large companies should not stop there. These large firms should look at making their businesses sustainable by integrating the concept of environmental, social and governance advantages into the core business.' He advocated the need for integrating sustainable approach to doing businesses along with maintaining profitability. He adds, 'In long-run, profitability can be greater if you embrace opportunities that accompany sustainable approach.' Since a number of large Indian companies are family-owned, he says, 'The companies that have family connections tend to not just make the businesses successful but they want to make sure that the business can be passed on to the next generation. They have a long-term vision.' Read on...
Mohammad Anas Wahaj | 28 feb 2019
Companies Act of 2014 made India the first country that made CSR (Corporate Social Responsibility) mandatory for a section of corporates. The companies were expected to integrate social development programs into their business models and culture. KPMG's 2018-19 report that analyzed the CSR work of 100 companies found that corporates increased their prescribed amount for CSR expenditure from Rs 5779.7 crore in 2014-15 to Rs 7096.9 crore in 2017-18. Moreover, they were actually spending more than what was prescribed (Rs 4708 crore in 2014-15; Rs 7424 crore in 2017-18. But India's most backward districts remain deprived these CSR funds. According to the Ministry of Rural Development, 115 of the 718 districts in India are backward. NITI Aayog suggests that corporates can contribute to the development of these districts. Jharkhand (19 districts, 1% CSR funds received); Bihar (13, 2%); Chhattisgarh (10, 1%); Madhya Pradesh (8, 3%); Odisha (8, 11%). While Maharashtra, Rajasthan, Gujarat, Karnataka and Andhra Pradesh, which account for only 15% of such districts, have received 60% of the CSR money. The most backward districts got only 13% of this year's funds and not more than 25% of the total projects. Companies have found convenient ways to direct their CSR funds and shrug off their social responsibility. In July 2018, 272 companies were served notices by the Registrar of Companies for non-compliance with CSR expenditure. Between July 2016 and March 2017, about 1018 companies were issued notices for non-compliance. KPMG has identified three principal areas of non-compliance - disclosure of direct and overhead expenditure on projects, details of overhead expenses, and keeping these overhead expenses below 5% of total CSR spends. Sujit Kumar Singh, senior program manager at Centre for Science and Environment (CSE), says, 'There is no data to know if companies are undertaking need-based assessment studies, a must since it prioritises the requirements of the impacted communities.' Mr. Singh adds, '...Often, professionals handling CSR are not trained to comprehend societal nuances. In most cases those heading the human resource department handle CSR activities. The need now is a policy which drive companies towards self-regulation, the key to CSR.' According to the reporting guidelines that CSE has prepared, 'Companies should self-regulate and be responsive to the disadvantaged, vulnerable and marginalised sections of society. They should respect and promote human rights, make efforts to protect and restore the environment, and support inclusive growth and equitable development. The guidelines show how to improve accountability and transparency in CSR spending, and make it an integral part of business.' Read on...
Indian firms' CSR spending needs more accountability and transparency
Author: Vikrant Wankhede
Mohammad Anas Wahaj | 27 nov 2018
Corporations are encouraging their employees to volunteer as part of their corporate social responsibility efforts. Experts recently conducted a workshop to discuss different stages of volunteering, scaling up the volunteer programs and how companies can use volunteering for better employee engagement, learning and alignment. Aditya Nagpal, Director and BU Head at Goodera, said, 'Our goal is to use technology and data to simplify volunteering, so more people are able to do good at scale. We feel that employee volunteering lies at the perfect intersection of people, planet and profit.' According to him companies go through five stages of volunteering - (1) Informal volunteering (2) Support and encouragement by launching initiatives (3) Planning initiatives strategically (4) Volunteering becomes essential component (5) Volunteering programs attain brand status. Svetlana Pinto, Country Head Communications & CSR at Novartis India, said, 'There are many advantages of volunteering that we have seen in our journey so far. Interestingly, we have found a lot of enthusiasm in the younger lot that is joining the workforce. Other things being equal, they would look more favourably towards an organization with a soul that helps them give back to the community. Volunteering has also helped in building a greater team spirit.' Ester Martinez, CEO & Editor-in-Chief of People Matters Media, conducted a session on 'Designing volunteering experiences for your workforce: Is your organization volunteering ready?' He addressed four challenges - getting started; sustainability of employees; architecting a good experience; policymaking. To overcome them it is important to have clear communication of values, better engagement of employees and a good reward and recognition program. Read on...
Designing volunteering experiences for your workforce
Author: Sharon Lobo
Mohammad Anas Wahaj | 13 oct 2018
Indian corporates that fulfil the conditions of Section 135 of the Companies Act 2013 relating to mandatory spending of 2% of last 3 years average profit on CSR are making a difference in vulnerable communities in India. According to the latest India CSR Outlook Report published by NGOBOX, Reliance Industries, HDFC Bank, Wipro, Tata Steel, NTPC, Indian Oil Corporation & ONGC spent more than their prescribed CSR budgets in FY 2017-18. The report analyzed CSR spends of 359 companies. The prescribed CSR budget of these 359 companies was Rs 9543.51 crore whereas the actual CSR spend was Rs 8875.93 crore (3/4th of total CSR spend in India). There is an increase in the prescribed CSR from 6% to 8% in the actual CSR spend from FY 16-17 and the number of projects have also increased by 25% from the previous year. REPORT HIGHLIGHTS: Maharashtra, Karnataka and Gujarat together received over 1/4th of India's total CSR fund. North-eastern states of Nagaland, Meghalaya, Mizoram and Tripura have received least funds; Public sector contribution is over 1/4th of the total; Oil, refinery and petrochemicals account for alsmost 1/4th of the total while healthcare and pharma contributes the least with just Rs 294 crore; CSR funding on education and skill increased by 50% from last year and is 1/3rd of the total CSR spend; Over 1/4th is spend on WASH (Water, Sanitation and Hygiene) and healthcare projects. Read on...
Corporates spend 50% CSR funds in education, skill development: Report
Author: Sonal Khetarpal
Mohammad Anas Wahaj | 22 jul 2018
In a developing country like India low-income groups often lack access to proper healthcare. But, mobile technology can provide ways to enable these groups have knowledge and resources to drive preventative healthcare. Lead researchers, Aakash Ganju (co-founder of Avegen), Sumiti Saharan (Neuroscientist, Team Lead of Design & Research at Avegen), Alice Lin (Global Director of social innovation at Johnson & Johnson), Lily W. Lee (President of Almata, a division of Avegen), explain the research conducted by their team on the digital usage patterns of underserved groups in two urban areas of India, and iteratively tested user interface and content design. Researchers generated primary research insights from more than 250 new mothers and fathers living in low-income communities, and achieve understanding of the core barriers and digital needs of this population. Researchers suggest, 'Embedding health care into digital tools requires that providers overcome contextual barriers and undertake deliberate design processes. To succeed, providers must develop a nuanced understanding of the obstacles to consuming information digitally, as well as glean insights from technology, interface design, and behavioral science.' Following are some insights from the research - (1) Cost is no longer the biggest barrier: In the last year, a strong government regulatory authority has promoted competition and consumer benefits that have rapidly driven down both smartphone and data costs. (2) Infrastructure can overcome any remaining cost barriers: Only 5% of people living in less-connected and less-developed localities owned smartphones, compared to a significant 56% of individuals with similar incomes living in neighborhoods with good mobile network and infrastructure. (3) Digital experiences are not often built for low-income, urban populations: The most pervasive barrier to digital adoption in India today is a lack of knowledge about how to use digital interfaces. Language is also a barrier. India has an overall literacy rate of 74%. However, only about 10% of Indians can communicate in English - the language of the Internet. Local language content is scarce. There are gaping holes in the understanding of early-stage user requirements and pain points, from both the digital interface and content experience perspectives. (4) There is a lack of trust in health-related digital information: Low-income, underserved communities who have not been exposed to authentic digital content often have extreme distrust in digital information pertaining to health. Only 12% of families thought information from digital sources was reliable, compared to more than 90% finding information from doctors and mothers to be most, very, or somewhat reliable. According to researchers, to truly meet the needs of underserved consumers, providers must focus on the following areas - (1) High-quality content: To engage users on digital platforms, providers must use differentiated content that connects with a user's specific journey. The form, tone, and continuity of content matters. Video formats optimized for small, low-quality displays are most effective in driving engagement. When visual formats are not feasible, audio formats are the next best alternative. Understand the environments in which users consume health. Include local elements in the content, like referring to local clinics etc. (2) Behavior change: Engaging users is vital to directing changes in consumer health behavior. It's important to be deliberate about the design of the user journey. Offering incentives for content consumption, sharing, and specific health-related behaviors can help nudge users toward desired health-related behaviors. (3) Technology: Mobile apps need to be light and fast, have low memory and data requirements, and be able to run on slow and patchy networks. Display data consumption frequently, enhanced ability to view offline content and share content within community is important for engagement. (4) Design team structure: Multidisciplinary teams that bring together expertise in technology, design, business and sustainability, end-user thinking, and behavioral sciences tend to create the most effective designs. To design for the end user, providers must design with the end user, particularly for populations who are not digitally fluent. Teams should develop a thinking environment and processes that allow for hypothesis development, application design, testing, analytics, and retesting in rapid, parallel, iterative cycles. Read on...
Stanford Social Innovation Review:
Expanding Access to Health Care in India Through Strong Mobile Design
Authors: Aakash Ganju, Sumiti Saharan, Alice Lin Fabiano, Lily W. Lee
Mohammad Anas Wahaj | 31 may 2018
According to British Council's 2016 report, 'The State of Social Enterprise in Bangladesh, Ghana, India and Pakistan', there are more than two million social enterprises in India with 24% of them led by women. India is one of the fastest growing economy and it needs more social entrepreneurs to tackle socio-economic problems. Women have to enhance their participation. But, existing stereotypes alongwith lack of investor confidence are major hurdles in the way. According to the World Bank, labour force participation rate for women in India has fallen from 37% in 2004-05 to 27.2% in 2017, which is quite low in comparison to developed nations. Increasing participation of women in workforce is vital for balanced growth of the country. Archana Raj, Team Leader at Save The Children, says 'Despite these low indicators, it is worth mentioning that there are new generation women who have broken the barriers of societal norms and regressive mindsets to pave way to the new world of entrepreneurship. Over the past few years, it has been observed that more women are choosing this as a career over other options, making a mark in the start-up ecosystem. Nonetheless, the aim must be to reach higher, which can help the rest of the women of our country to rise beyond the barriers and choose for themselves.' Jamie Cid, a social entrepreneur and founder of MobiHires, says, 'I think that there is a great opportunity for women social entrepreneurs in India, especially mothers returning to the workplace, who develop products and services based on their experience and solve problems in their community. With platforms like Sheroes, Reboot, SheThePeople and Lean In India initiatives that support and invest in women social entrepreneurs, this is the right time to be one.' In one of the blog posts of World Bank, Monique Villa, CEO of Thomson Reuters Foundation and founder of TrustLaw and Trust Women, gives the example of Ajaita Shah who works in rural regions of India. Shah's organisation, Frontier Markets, sells and distributes products to rural households. The organisation calls itself a 'for-profit business with a social mission'. According to the Thomson Reuters Foundation, India ranks 35th among countries that are the best for women social entrepreneurs, with the US, Canada and the UK occupying the top three positions. Manju Yagnik, vice chairperson of Nahar Group and member of Indian Merchant Chamber, says, 'I personally do not believe in male-female classifications. I do not think capabilities and talent can be differentiated as per gender. Today's women do not seek sympathy. They want equal opportunities when it comes to decision-making in financial capabilities, which is still male-dominant. Thankfully, with the modern society promoting and striving for gender equality, the position of women is improving year after year. Women entrepreneurs in India are bringing revolution and growth in the public and private sectors. With the help of government initiatives, they will grow further.' Manisha Gupta, founder and director of Start Up!, says, 'Regardless of whether a woman is a social or business entrepreneur, she has to negotiate through an ecosystem that has been structured for men to succeed. Not only do we need more women social entrepreneurs but also an ecosystem where there are more women leaders at every level. We need them as coaches, investors, in finance, as leading incubators, etc to break the template.' Citing challenges women face, Ms. Raj comments, 'Pressures of social norms and societal biases force women to give up the job while tough competitive market further make their work challenging.' Ms. Yagnik feels the need for more women entrepreneurs in India. She says, 'Social entrepreneurship might be a great opportunity for Indian women professionals to break through the glass ceiling that typically exists in traditional corporate life.' Ms. Cid suggests social entrepreneurs to stay positive and focus on the bigger purpose and stay passionate about their goal. Explaining capabilities of women entrepreneurs, Ms. Gupta says, 'I always say that women social entrepreneurs use the 3Rs - resilience, relationship and resistance – to build and grow their ventures. They are masters of resilience, I have seen many women without any resources, standing on their own and building a business in rural regions. They also demonstrate strong capabilities of building connections and meaningful relationships with stakeholders which takes them far.' Read on...
Mohammad Anas Wahaj | 17 mar 2018
According to the recent report based on PRIME Database, listed Indian companies that total 1019 have spent Rs. 9034 crore in 2017-18 to fund their CSR (Corporate Social Resposibility) projects and activities. Nearly 37% of these funds were used for education and vocational skill training activities. This development area also witnessed the largest absolute increase in allocation of resources and funds. Moreover, the biggest increase was found in activities that support and benefit the armed forces veterans, war widows and their dependents. Other focus areas that saw increased in expenditure were community development, infrastructure, environment sustainability, social welfare, sports, and slum development. But, eradication of hunger and poverty, and promotion of healthcare and sanitation had expenditure decreased by 18.6%, from Rs. 2944 crore to Rs. 2394 crore. Report by KPMG, 'India CSR Reporting Survey 2017', showed that while education and healthcare have been in focus for the past three years, organizations have slowly begun diversifying their area and geography of development in the last one year. Another recent report found the total CSR expenditure figure at Rs. 7050 crores and said that out of India's top 100 firms, 59 met their CSR targets, while 33 companies had an expenditure of less than required 2%. This report also listed educational projects, rural development, and healthcare as the key focus areas of the companies. Read on...
India Inc.'s CSR spend highest on education and skilling - Report
Author: Manav Seth
Mohammad Anas Wahaj | 28 feb 2018
Social entrepreneurs utilize their skills and efforts to solve social issues and make world better. The School for Social Entrepreneurs (SSE) India runs a 9 months long Social Start-Up Fellowship program, an initiative supported by PwC India, to assist social entrepreneurs develop and scale their social enterprise ideas and concepts. SSE recently felicitated 17 social enterpreneurs that graduated from the program. Attending the occasion, Dr. Jitendra Singh, Minister of State (PMO, Govt. of India), said, 'There is a sense of satisfaction when you witness, for the second year in a row, a new set of social entrepreneurs graduate with the skills to make a difference in the lives of others through their innovative ventures.' Satyavati Berera, COO of PwC India, said, 'Social entrepreneurship is steadily gaining momentum in our country and we are proud to be part of this journey which for PwC began its association with SSE India in 2016...Each mentoring opportunity helped our people interact with those working at the grassroots and built a different perspective, which will have a deep positive impact on the way we serve our stakeholders.' Shalabh Mittal, CEO of SSE India, said, 'At SSE India, we believe in bottom-up social change and help social entrepreneurs work in broken markets or in the poorest of communities...our learning approach has the ability to empower entrepreneurs to start, grow and scale.' Also present was Jaivir Singh, Chairperson of SSE India and Vice Chairman of PwC India Foundation. Website the-sseindia.org gives list of 17 social entrepreneurs felicitated - (1) Prem Kumar (Sambhawana Development Foundation, Livelihood, Non-Timber Forest Produce - NTFP) (2) Bharti Singh Chauhan (PraveenLata Sansthan, Women & Child Welfare) (3) Dr. Anirudh Gaurang (Rovnost Healthcare, Healthcare) (4) Sonali Patwe (Perseverance Infosystems Pvt Ltd., Technology) (5) Hemanta Gogoi (wowNE, Livelihood) (6) Lourdes Soares (SabrCare, Healthcare) (7) Dr. Sumedha Kushwaha (ATTAC, Healthcare) (8) Dr. Raunaq Pradhan (Saaras Foundation, Policy Implementation) (9) Abhishek Juneja (Adhyaay Foundation, Education) (10) Riddhi Dastidar (Riyaaz, Education) (11) Abhishek Jhawar (National Abacus, Education) (12) Ayushi Shukla (Sanima, Arts & Cinema) (13) Inderpreet Singh (SPEEE, Community Well-being) (14) Neharika Mahajan (Oryn, Environment & Livelihood) (15) Umang Shridhar (KhaDigi, Rural Livelihood & Khadi) (16) Vilas Gite (Praas Development Foundation, Rural Development) (17) Devaja Shah (Amiku, Mental Healthcare). Read on...
17 Social Entrepreneurs Honoured By School For Social Entrepreneurs India And PwC India
Mohammad Anas Wahaj | 30 jan 2018
Social entrepreneurship ecosystem conference, 'Development Dialogue', organized by Kakatiya Sandbox, was recently held in Nizamabad (Telengana, India). Experts emphasized the need for greater collaboration between government and innovators to build the ecosystem. This year's theme was 'Collaborating for Big Bets'. Gururak Deshpande, venture capitalist, philanthropist and founder of Deshpande Foundation, says, 'We should not expect governments to innovate. Instead, we need to develop a system via philanthropic money to experiment, and if something works, the government needs to acquire it. That way we will be able to bring about transformations that are systemic and large.' NVS Reddy, Managing Director of Hyderbad Metro Rail (HMR), says, 'Out of more than 200 mass transportation projects in the world, only four metro projects are making profits. When we took up the Hyderabad Metro Project under the public-private partnership (PPP) model...world's biggest metro project...many were sceptical about its success. We were able to tackle all the challenges with a collaborative approach.' Phanindra Sama, Chief Innovation Officer of Telangana and co-founder of Kakatiya Sandbox, says, 'Governments are now open to innovative ideas. The onus is on the individuals to seize this opportunity and make an impact from within...' Read on...
The Times of India:
'Must build ecosystem for social entrepreneurship'
Mohammad Anas Wahaj | 16 mar 2017
According to the NASSCOM Foundation report, 'Catalysing Change Through CSR', about half of the IT and financial services companies (70) interviewed have spent more than 70% of their CSR in education and employable skills initiatives. Ganesh Natarajan, Chairman of NASSCOM Foundation, says, 'Education and employable skills are the key to most of India's social problems. An industry, which has grown solely by investing into knowledge and key skills, realises the difference a skilled knowledge society can make and therefore, a major chunk of the CSR funds has been dedicated to education and employable skills.' The report finds that companies are placing greater importance on monitoring outcomes by integrating technology. Among the roadblocks cited by most companies was identification, selection and due diligence on NGOs and the absence of robust tracking process. Read on...
Mohammad Anas Wahaj | 28 sep 2016
According to the conditions set forth in the CSR (Corporate Social Responsibility) Law in India, all companies with a net worth of Rs 500 crore or revenue of Rs 1000 cr or net profit of Rs 5 cr should spend 2% of last 3 years average profit on charity work. CSR management firm, NextGen, studied the annual reports of the top 100 firms by market capitalizations on NSE (National Stock Exchange) for 2014-15 & 91 firms for 2015-16. The total spend on CSR activities for 91 firms is Rs 6033 cr for FY16, while it was Rs 4760 cr by 100 companies in FY15. According to Abhishek Humbad, co-founder of NextGen, 'More and more companies are realizing that not meeting 2% makes them look bad, and for large companies, it can turn out be a reputational risk.' The energy sector accounted for nearly 26% of the total CSR spending. Reliance was the largest spender in FY16, using 2.3% of its profit (Rs 652 cr) on education, health and other social activities. Jagannatha Kumar at chairman's office of RIL says, 'The amount spent on each of the focus areas varies on an annual basis depending on the scope of work for the year.' In FY16 RIL spend on healthcare halved to Rs 314 cr while on education it increased to Rs 215 cr from Rs 18 cr in FY15. According to Parul Soni of Thinkthrough Consulting, a CSR consultancy, 'Manufacturing companies like automotive have been well poised to do CSR because they focus on communities around their plants and it helps build engagement with local communities. Also, many of them are working in skill development.' Some of the top causes that corporates spend on are healthcare, poverty eradication, education, skill development, rural development, and environment. Noshir Dadrawala, CEO of Centre for Advancement of Philanthropy, says, 'Skills have been trendy. These causes have seen an increase because many of the skilling initiatives instead of being classified as an education initiative is being put under providing employment and reducing poverty. Also when it comes to healthcare, conducting blood donation camps is a popular way of doing CSR as it is easy and effective.' Ravi Chellam, ED of Greenpeace, points out that environment is not a priority issue for most Indian corporates. He says, 'On environmental issues, companies seem to prefer to focus on either their own campuses or areas immediately surrounding their locations.' According to Loveleen Kacker, CEO of Tech Mahindra Foundation, '50% of all our CSR capital goes into empowering women and another 10% for the disabled. We believe that any development can happen in any of the areas - from nutrition to sanitation, only when women are empowered. And we feel only economic empowerment of women can bring about social empowerment.' The top geographical regions that were beneficiary of CSR funds for FY16 are Maharashtra, Tamil Nadu, Gujarat, Andhra Pradesh, Rajasthan and Karnataka. Vinod Kulkarni, head of CSR at Tata Motors Ltd, says, 'It is part of our policy to invest CSR funds in geographies in close proximity to our area of operation. It amplifies the outcomes and impact.' Arun Nagpal, co-founder of Mrida Group, comments, 'The reasons for firms to select geographies close to manufacturing plants or areas of work are valid but this leads to an imbalance in the division of CSR funding.' Read on...
Firms ramp up CSR focus on healthcare, poverty, hunger
Authors: Arundhati Ramanathan, Moyna Manku
Mohammad Anas Wahaj | 08 may 2016
UK-India Social Enterprise Education Network (UKISEEN), a collaborative project between IIT Madras (India) and University of Southampton (UK), funded by British Council, was recently launched in India. Prof. Pathik Pathak, Director of Social Enterprise and founding director of Social Impact Lab at University of Southampton, explains his views on social entrepreneurship education and employment, aims and objectives of UKISEEN and how India is embracing social entrepreneurship. ON SOCIAL ENTREPRENEURSHIP: 'Fundamentally, it's about using entrepreneurship and innovation to drive social change. Social entrepreneurship is important because it gives students a unique skill-set...We think that social entrepreneurship is a catalyst for producing the graduates that the world needs. This is why so many universities in India have embraced social entrepreneurship.' ON UKISEEN: 'It involves universities collaborating to understand the best practices in social entrepreneurship education and exchanging ideas. There are two levels to the collaboration - at the faculty level and student level.' ON ROLE OF UNIVERSITIES: 'Employability is all about leadership now...universities' role includes more than merely educating students. Social entrepreneurship helps students inculcate innovation and creative skills. Fundamentally, it is about problem-solving, which is what leadership is all about as well. Besides, regardless of the profession you enter, you need to be entrepreneurial.' ON EMPLOYMENT OPPORTUNITIES: 'One can go and work in the social investment space...Another indirect way is that it gives them the skills to go into the workforce and become leaders.' Read on...
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