To fight off challenges coming out by COVID-19 pandemic, the Indian arm of Silicon-Valley-based impact investor Omidyar Network has announced a commitment of $1 million investment for a rapid response.
As part of the initiative, Omidyar is inviting proposals that strengthen containment, detection and treatment, support crisis management capabilities and enhance resilience and recovery in the wake of Covid-19.
“The Covid-19 pandemic and its wider socio-economic impact are an unprecedented development. We recognise that the slowdown will most impact the vulnerable sections of our population and large swathes of India’s “next half billion” (NHB), whom we seek to serve – the vendors, daily wage earners, the gig-economy workers, and small businesses,” Omidyar said in a statement.
It will consider initiatives in the field of data, apps and other technological solutions, community outreach and mobilisation campaigns, and actionable research that enhances the ability of the government and public in dealing with the crisis.
Omidyar further said that it will give priority to proposals including scalable solutions that leverage technology and solutions that have initial traction to benefit a large number of Indians, especially the lower 60% of India’s income distribution.
At present, it claims to entertain funding proposals in the range from Rs 5 lakh to Rs 2 crore.
Startups and entrepreneurs can submit a proposal, which must not exceed two pages, outlining major points including context of the problem, description of the solution and potential impact. It also invited NGOs, research organizations, social entrepreneurs and for-profit businesses seeking to do this on a no-profit basis