Why Grant Funding, Impacts/Benefits and Specific Support Needed

Why Grant Funding

Elements successfully runs employ-ability interventions at various business schools and this is a regular student-pay model without any need for a grant. However, for the Below-Poverty-Line beneficiaries, who probably need this most, we have realized over the last 5 years that grant funding is essential.

The families themselves do not have fund to pay and the employer is only willing to pay a small share of training since these are semi-skilled workers.

We absorb all overheads in our for-profit entity, leading to the cost per trainee (~US$100) as one of the lowest in the country. 90%+ of grant money is spent in direct costs incurred at the training level and these can be monitored.

 

Impacts/Benefits

  • Sustainable impact on livelihood, education, poverty alleviation and women empowerment (30%+ of beneficiaries are typically women).
  • A virtuous cycle of rising income, spending in education, health and training, and higher score in HDI (Human Development Index). Trickle-down effect to improve overall quality of life. We have consistently seen that disposable income of the family increases by 2x and the extra cash is generally spent on education or health.
  • Reaching out to most unaddressed and deserving target audience (Class X/XII pass BPL students in rural areas, 30-50% women) in most backward districts.
  • Guaranteed minimum 75% placement, above government minimum wage rate. The same tracked for one year post placement. A significant part of grant money gets paid after this is met.
  • For the donor: Option to release grant only against milestones met, over a period of 2-3 years.
  • For the donor: Opportunity to leverage grant money with other co-funders like World Bank or Delhi government who have already done due diligence.
  • Execution managed by a very professional company (started by IIM Alumni) with a sterling track record of executing similar projects.
  • Be a part of the team which wishes to narrow the gap between India Shining and Bharat.

 

Specific Support Needed

  • The cost of a typical project is approximately US$100 (~Rs. 5000) per beneficiary. This includes mobilization of the trainees, actual training delivery for 2 months, helping the trainees find placements, and post placement monitoring.
  • A typical batch is of 25-35 trainees and the minimum project size is 3 batches (~100 families or ~500 individuals… average family size in rural India is about 5). Therefore the grant money can be any multiple of Rs. 5 lacs. The funds can be released only after meeting aligned milestones. We are looking at your support to brighten up the lives of many under privileged but deserving candidates. With your support, we can provide specific job oriented training and provide placements to about 100 beneficiaries from 100 different Below-Poverty-Line families and therefore impacting 500 lives. These 100 individuals would be without a job now, part of Below-Poverty-Line families, and with very little chances of getting a good job because of their lack of skill. With our intervention, not only will they get the requisite corporate skills, but they will also get a job in one of our partner companies like Pizza Hut, Reliance, More, Future Groups etc.

 

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