CORPORATE SOCIAL RESPONSIBILITY
India is the first country to adopt a Corporate Social Responsibility (CSR) legislation mandating companies with a net worth of Rs. 5 Billion or more to give 2% of their net profits of the last 3 years to social causes. This is a great boost for a Social Venture Catalyst like Vibha. Our goal is to educate, empower and enable every individual who wants to make a positive difference in the life of an underprivileged child; and legislation like this gives us the right tools to make it happen.
Since this legislation was passed, Vibha has been aggressively working with various corporations in India and presenting Vibha’s projects. Because Vibha’s projects have been thoroughly reviewed and are constantly mentored, supported and monitored by Vibha, the CSR wings of the corporations have been very receptive to our proposals. Thanks to the tireless efforts by Vibha’s team in India, results are materializing.
In 2014, six of our projects were picked by large corporations for funding at various levels. This increased the returns on Vibha’s investments, helped scale up successful models and reduced the dependency of the project on Vibha’s investment alone; thus enabling Vibha to identify, nurture and grow other successful models. Below are some of the CSR partnerships initiated by Vibha.
1. Associate Cement Company (ACC) is adopting Sikshana’s Government School intervention in Wadi town, Karnataka state. Wadi is home to two cement plants of Associated Cement Company Limited.
2. EMC Corporation is investing Rs. 800,000 to expand Sikshana’s Government School Intervention in Karnataka state.
3. Volkart Foundation continues to invest in HEARDS and Sikshana’s projects and is increasing its investment to Rs. 1.5 Million this year.
4. Cognizant Corporation’s outreach CSR team has visited our Sikshana schools in Maharashtra and Karnataka as they plan to
expand their investments in these geographies. They have also visited our project Rachana in Maharashtra towards similar
5. IGate Corporation’s CSR team has visited project Rachana in Maharashtra to study its model and consider investing in it.