Omidyar Network Invests USD 650,000 in Anudip Foundation

Omidyar Network, an investment firm established by eBay founder Pierre Omidyar, announced today a grant of up to USD $650,000 to the Anudip Foundation.

Anudip will utilize the four-year grant to scale its skills-training and entrepreneur-development operations in eastern India. Shreya Deb of Omidyar Network will take an observer seat on the nonprofit’s board of directors.

Anudip Foundation’s aim is to provide opportunities of livelihood for impoverished youth in rural and semi-urban areas of India. Its integrated model is both innovative and successful. Commenting about why Omidyar Network decided to invest in Anudip Foundation, Shreya said, “Anudip Foundation plays a vital role in bridging the gap between traditional schooling and achieving a sustainable livelihood for many of the country’s youth. Omidyar Network is proud to help motivated individuals reach their potential by supporting Anudip in scaling and fulfilling its mission.”

By providing educated, yet underprepared, youth with both IT-based job skills training and job placement services, Anudip has recently achieved an 80% job placement ratio. More than 8,000 students have been trained over the organization’s 5 year history.

NASSCOM recently honored Anudip with its Social Innovation Honor on February 14, 2012 in Mumbai. Anudip’s model and resulting impact were recognized for ICT-led social innovation in the not-for-profit category.

Speaking about their association with Omidyar Network, Dipak Basu, Chairman, Anudip Foundation said, “We are deeply honored by the faith placed on us by Omidyar Network through the grant. We are confident in our ability to scale up our operations.”

In addition to its job skills training and placement services, Anudip offers its DREAM entrepreneurship program that mentors students interested in starting their own business and assists them with initial startup financing.

For more information on Anudip Foundation, visit www.anudip.org.