Roopa kudva, Business person

Omidyar Network India, an investment firm focused on social impact, announced that it has fully utilized the capital pool of Rs 10.75 crore under its Rapid Response Funding Initiative for Covid-19.The initiative was launched on March 24, 2020 - since then 2000 applications were received and 67 proposals have been approved. Of this, Rs 3.25 crore was contributed by employees of Omidyar Network India. Applications received: some highlightsThe 2000 plus applications received from across the country provide good insights into the types of non-profit solutions that are being set up.* While the majority of proposals were focused on physical health (79 per cent), some (3 per cent) were for addressing mental health challenges too.* Nearly half (49 per cent) the proposals were technology-focused - primarily online and mobile based solutions.* The solutions focused on supporting the vulnerable sections - the lower 60 per cent of the country's income distribution represented by the daily wage earners, vendors, the gig-economy workers, and small businesses."The response of the nonprofit sector to the current crisis has truly been awe inspiring. The way they have galvzed into action has dispelled many myths associated with the nonprofit sector. NGOs and nonprofits have responded rapidly to provide cost-effective solutions. They are adopting new technologies at a fast pace. They are collaborating with each other to create a more effective response. If they continue to be funded adequately, these orgzations will continue to play an increasingly greater role in India's response to the pandemic both in the medium and the long term," said Roopa Kudva, Managing Director, Omidyar Network India, while commenting on the initiatives in response to Covid-19. Profile of proposals approved under RRFI: The amount of Rs 10.75 crore has been deployed towards the following mix of themes:* Direct relief work, grassroots awareness campaigns, on-ground programs to mobilize volunteers (47 per cent)* Fact-based inputs to inform the thinking of policy-makers/influencers in supporting the NHB (12 per cent)* Data, apps and other technological solutions (27 per cent)* Collaborative efforts amongst funders and solution providers (12 per cent)* Economic resilience of NHB workers and small businesses (2 per cent)Listed below are the 67 initiatives chosen for funding under the Rapid Response Funding Initiative. They include a wide range of orgzations - non-profits, coalitions of NGOs and civil society orgzations, for-profit businesses seeking to create non-profit solutions as well as research bodies:This story is provided by BusinessWire India. will not be responsible in any way for the content of this article. (/BusinessWire India)( With inputs from ANI )

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Business :Omidyar Network India funds 67 projects under Rapid Response Funding Initiative for Covid-19

Omidyar Network India, an investment firm focused on social impact, announced that it has fully utilized the capital pool of Rs 10.75 crore under its Rapid Response Funding Initiative for Covid-19. ...