3rd Generation Philanthropy Project of COVA: Report of Launch of Free Online Scholarship Applications Program
COVA Network
A Report of
Inauguration of Free Online Scholarship Applications Program
In Hyderabad, India
Mr. A. K. Khan, IPS, Advisor to the Government of Telangana inaugurated the Free Online Scholarship Applications Program of COVA & ICAN for Pre Metric Scholarships on 4th July 2017 at Rising Sun School Bandlaguda Hyderabad.
This program is aimed to help at least 20,000 students from deprived backgrounds to file online applications for Pre Metric scholarships of the Government of India and the Government of Telangana to enable students to collectively access amounts amounting to about Rupees One Crore (Ten Million). Subsequently, COVA proposes to initiate a similar program for Post Metric Scholarship students from August 2017. Insight Connect and NASIM Foundation, USA are partners for this Program and are providing resource support.
This is part of our Program of 3rd Generation Philanthropy designed to access the very large sums of the government funds that are available for development of people but mostly remain unutilised. It is estimated the cost of implementing the Free Online Scholarships Program will be Rs. 300,000 but this will enable accessing scholarships to the extent of about Rs. One Crore (10 million). Here the returns on every rupee donated will be 1: 33!
COVA is also enabling small entrepreneurs to access bank loans as part of the 3rd Generation Philanthropy Project and has enabled access to loans of over 1.8 crores (18 million) with a repayment of over 98% at an implementation cost of about Rs. 15 lakhs (1.5 million) ensuring a return of 1: 12
"Third Generation Philanthropy: From Charity to Empowerment" is a Project of COVA that endeavours to bring about attitudinal transformation in individual donors to channelize their donations from giving charity (First Generation Philanthropy) or providing services directly (Second Generation) to Third Generation Philanthropy that involves support to Facilitating Organisations to access the monumental resources allotted by the Central and State Governments for different projects in the social sector but remain grossly underutilized. For a PPT on 3rd Generation Philanthropy please click here. for Press Note please click here
The Economic Survey and Union Budget for 2016-17 and related stipulations of the government of India require that bank credit of at least 11.26 lakh crores should be advanced to 14.2 crore Nano and Micro businesses and agriculture initiatives – borrower each getting an average of Rs. 79,358! At 5.5 persons per family in India, this means that 78.1 crore or 62% of India's population would benefit.
Similar benefits to the poor could accrue in the fields of education, scholarships, housing, healthcare, access to civic amenities etc to Make Poverty History!
If only people could change their philanthropic orientation and support Awareness and Facilitation Organisations who could enable people to effectively access the schemes and programs of the central and state governments and other philanthropic bodies, Third Generation Philanthropy can enable 1% of Individuals with income of over 2.5 lakhs and above per year (0.04% of India’s population) to help 3% of India’s poor to come out of poverty every year through an average donation of just Rs. Rs. 14,000 per year!
Mohammed Aslam Khan
Digital Outreach Officer
