Mumbai, Maharashtra, India
Up to INR130 million available as grants for innovative programs that create economic opportunities for low-income young people
Program is part of Pathways to Progress, the Citi Foundation’s approach to prepare young people with career readiness tools and opportunities
The Citi Foundation’s third edition of its India Innovation Grant Program (IIGP) this year aims to identify leading programs that will help young people, aged between 16-25 years old, build an entrepreneurial mindset, acquire leadership, financial and workplace skills, and begin to engage in the formal economy through a first job.
Through the 2016 IIGP, up to INR 130 million will be available in grant funding to NGOs working in the area of youth economic opportunities across India.
Who can apply?
Invites proposals from registered NGOs with a minimum three year track record
Registered not-for-profit entities, such as a Society, Trust, Section 25/8 Company
Registered with the Ministry of Home Affairs under the FCRA regulation
Set up for at least three years and have a consistent track record over three financial years in India
How to apply
Applicants must email their initial proposal by March 25, 2016 to email@example.com
Shortlisted applicants will be notified and requested to submit full proposals
The 2016 IIGP is part of Pathways to Progress, Citi Foundation’s global initiative to prepare young people with the career readiness tools and opportunities needed to thrive in today’s economy.
Pathways to Progress is comprised of programs, research, and partnerships that help youth build an entrepreneurial mindset, acquire leadership, financial and workplace skills, and begin to engage in the formal economy through a first job.
The Citi Foundation’s India Innovation Grant Program, a first-of-its- kind initiative in India, was launched in 2014 to encourage non- governmental organizations (NGOs) to develop innovative and sustainable financial education and inclusion models. The program is supportive of India’s national agenda to spur financial inclusion by instilling the habit of savings amongst low income populations.
Now in its third year, this year’s program will expand to focus on yet another national agenda, which is the skilling of youth across the country, to prepare them for and connect them with economic opportunities, which in turn, will propel economic progress and inclusion in India.
Citi India Chief Executive Officer Pramit Jhaveri said, “Citi India is extremely proud of the impact and reach of the India Innovation Grant Program through its earlier editions. This year, in alignment with the Government of India’s ‘Skill India’ initiative, which aims to train 400 million youth by 2022, the India Innovation Grant Program seeks to address the creation of economic opportunities for youth in the country.
“With more than 50% of our population under the age of 25 years, attempting to skill and train India’s youth is a massive opportunity. The need is for programs that are innovative in approach, yet scalable in impact, so that they will act to augment the efforts of the government,’ said Mr Jhaveri.
The Citi Foundation’s 2016 IIGP will award grants to NGOs in India that employ innovative approaches to create sustainable and long term opportunities for livelihoods for young people in low income communities across the country.
Of particular interest are programs that:
Prepare young people for and connect them to economic opportunities, including but not limited to:
Leadership, financial and workplace skill development
Focus on urban low-income youth
Use technology and innovative approaches to expand delivery and lower the costs of serving more low income young people
Focus on sustainable, scalable models with measurable impact
Engage stakeholders to promote the adoption of new national approaches
In its previous edition, the 2015 India Innovation Grant Program invested INR 130 million (USD2 million) in eight innovative and sustainable financial education and capability programs aimed to benefit more than 300,000 individuals in the country through non-profit organizations including American India Foundation Trust, Grameen Foundation, Kalighat Society for Development Facilitation, MelJol, Navya Disha, Swadhaar FinAccess, Anudip Foundation for Social Welfare and Pratham Education Foundation.
In India, the Citi Foundation’s overall grant program is focused on addressing the socio-economic challenges with innovative and strategic grants, which will help enhance and facilitate financial inclusion, promote responsible financial behavior via increased financial literacy and create new income-generating opportunities in low income communities. Since 1999, the Citi Foundation has supported more than 35 non-profit organizations, benefiting an estimated 2.5 million individuals across India.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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About Citi India:
Citi India offers consumers including Non Resident Indians, corporates and financial institutions, a comprehensive range of financial products and services. These include retail banking, mortgage finance, credit cards, personal loans, corporate and investment banking, foreign exchange, securities brokerage, transaction services and wealth management. Citi India operates 45 retail branches in 28 cities and serves customers ranging from India’s top corporate houses, multinationals operating in India, SME’s, self-employed entrepreneurs, households and individuals. Citi India has leading market shares in a number of areas in India’s banking industry, including credit cards, distribution of mutual funds, e-commerce banking, investment banking and foreign exchange. In addition, Citi India through its network of Citi Service Centres has been a leading offshoring unit for Citigroup globally, providing employment opportunities in the areas of technology, processing, analytics and financial processes.
Citi India is also committed to enabling socio-economic progress in the communities where we live and work. Since 1999, Citi Foundation through its partnerships, has helped further the financial inclusion agenda through education, and has created livelihood opportunities for youth and marginalized families in India. In addition, Citi has been committed to preserving India’s heritage through its programs focused on art and culture. These efforts, over the past 16 years, have benefited more than 2.5 million people across the country. Citi India continues to promote an inclusive and responsible society through its various CSR initiatives.
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About Citi Foundation:
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant cities. The Citi Foundation’s “More than Philanthropy” approach leverages the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. For more information, visit www.citifoundation.com