The US and UK based, world’s biggest non-profit crowd-funding platform, GlobalGiving is entering the Indian market through a partnership with Mumbai’s Impact Guru, a crowd-funding platform for NGOs.
This affiliation will allow Indian NGOs and social firms to offer tax benefits to international donors in US and UK, particularly NRIs, when they donate towards social causes using GlobalGiving’s technology on the Impact Guru platform.
"We found that 60 per cent of donations were coming from international donors on the platform, hence wanted to get the Indian diaspora to give donations in larger numbers and greater quantity. There are 33 lakh non-profit organizations registered in India, but the government closely monitors this space in terms of foreign funds. As of now, 13,000 NGOs are allowed, they together raised Rs 8,500 crore last year," said Piyush Jain, founder of Impact Guru. Further to this he also added that the government has estimated that there were more than 60 lakh NRIs or people of Indian origin residing in the US and UK.
This partnership will also enable nonprofits and social organizations across Southeast to raise funds via Impact Guru. Through this partnership, Impact Guru expects to raise a minimum of Rs 200 crore during the first five year period.
John Hecklinger, chief Network Officer, GlobalGiving said: “GlobalGiving is excited to partner with Impact Guru to help Indian NGOs transact with donors in India, the US and the UK on a single giving platform. This partnership will help GlobalGiving, Impact Guru and the global social sector to understand more about how donors and NGOs interact locally and globally.”
Prior to this, Impact Guru partnered with Fundnel, a Singapore-based private investment crowd-funding platform. The collaboration of Impact Guru with Fundnel established the Indian platform’s presence in Southeast Asia. Since their partnership, both the organizations have helped mobilize over Rs 329 crores for various projects across 15 countries. Likewise this partnership between Impact Guru and GlobalGiving will help NRIs to donate towards social causes.
May 03, 2017