As a part of the 'Giving Pledge', started by Bill Gates and Warren Buffett, Infosys boss and co-founder Nandan Nilekani says he will partner with a list of esteemed global philanthropists to bring about 'systemic change'.
As a part of the ‘Giving Pledge’, started by Bill Gates and Warren Buffett, Infosys boss and co-founder Nandan Nilekani says he will partner with a list of esteemed global philanthropists to bring about ‘systemic change’. In a tweet today, Nilekani said ‘Rohini and I look forward to partnering with fellow philanthropists to bring about systemic change!’ He along with his wife Rohini Nilekani will now be a part of this international troop of givers.As the name suggests, Giving Pledge is a promise that most billionaires take to donate at least half of their fortune to charity and they have agreed to pool some of their resources and develop new ideas for giving their money away. A venture, backed by Bill and Melinda Gates, called Co-Impact was also launched on Wednesday. The venture has roped in Silicon Valley entrepreneur Romesh Wadhwani and ex eBay president Jeff Skoll. The venture promises to have at least $500 mn for innovative projects. Projects that tackle problems in health care, education and work towards reducing inequality.
On one hand, the richest philanthropists create a giant foundation to attempt to garner more money, Co-Impact is designed to provide newer donors, especially from emerging markets. And one such donor is Nandan Nilekani. This group is forming a network of rich donors who can provide funds and their expertise for future projects in emerging markets.
Rohini and I look forward to partnering with fellow philanthropists to bring about systemic change! https://t.co/HXAeO5SFy4
— Nandan Nilekani (@NandanNilekani) November 15, 2017
Melinda Gates said that there are too few options for philanthropists who want to invest in systems change and are looking for the most promising entrepreneurs and organisations, as per Financial Times. “..They have to do the landscaping and analysis, vetting themselves. As a result, we wind up with great ideas that don’t get implemented and philanthropic dollar that don’t get spent in most efficient way,” she added.
Earlier, Microsoft co-founder Bill Gates had announced that he will be investing USD 50 million to fund research into treatment for Alzheimer’s disease. Gates, in an entry on his blog, said he was making the investment from his personal fortune and not with his charitable Bill & Melinda Gates Foundation. “Of all the disorders that plague us late in life, one stands out as a particularly big threat to society: Alzheimer’s disease,” Gates said. The multi-billionaire philanthropist said finding treatment for Alzheimer’s, which affects nearly 50 million people worldwide, was particularly urgent since improved medical care meant people were living longer.