Startup founders from YIPP raise ₹50 cr to create model schools
PremiumThe aim of the program is to transform 105 schools and its co-located anganwadis/preschools as model schools in four Karnataka districts by 2025
In a first of its kind initiative, startup founders have collectively raised ₹50 crore for a public project.
The founders from the Young Indian Philanthropic Pledge, spearheaded by philanthropist Nikhil Kamath and Prashanth Prakash, signed a three-year memorandum of understanding (MoU) with the Karnataka education department as part of the Karnataka Model Schools Pathways Programme (KMSPP). Kamath is the co-founder of Zerodha and True Beacon and Prashanth Prakash is founder, Accel.
The aim of the program is to transform 105 schools and its co-located anganwadis/preschools as “Model Schools" in four districts by 2025.
The initiative will undertake the task of incorporating advancements from leading ed-tech companies to utilizing their techniques beyond urban areas to be more socially accessible for rural communities impacting learning outcomes, enrollment and retention of students by building capacities of teachers, augmenting physical and digital school infrastructure, holistic learning, employment readiness skills and community engagement across government schools.
YIPP will be joining hands with global philanthropic foundation, Bill and Melinda Gates Foundation, to provide a funding of ₹50 crore over a period of three years.
The first project in a series that YIPP will undertake, signatories, all under 45 years of age, will pledge 25% of their wealth with a minimum spend of ₹1 crore per year.
Prashanth Prakash said, “The program would be delivered by a collaborative of 10 organizations with a sole aim of converging civil society efforts otherwise operating in silos and bringing in deep national and international expertise towards improving the quality of education in Karnataka".
Kamath said “Education is at the core of most solutions our society needs today, for the affluent to have access to a different pedigree of education is bound to create further inequality. YIPP through this program hopes to level the playing field and provide govt schools with the tools to take on private ones."
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