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Bengaluru, May 14 () The Bill &amp; Melinda GatesFoundation, the Michael and Susan Dell Foundation and WadhwaniFoundation have partnered with Action Covid-19 Team (ACT)Grants, India's not-for-profit grant set up by some venturecapital investors and start-up founders, which has crossed theinitial milestone of Rs 100 crore.The three Foundations have joined ACT Grants as donorsand will extend the outreach of the initiative, it said in astatement.Gates Foundation will be a part of the projects'selection process and will support the project execution, witha focus on States such as Bihar and Uttar Pradesh.Wadhwani Foundation will also provide grants forselected projects, with a focus on immediate impact as well asimprovement of the long term Indian healthcare system.Further, the Foundation will provide pro-bono consultingservices to these projects to facilitate capacity, stabilityand growth, it said.ACT Grants said it has brought together the collectivestrength of over 50 venture capital firms, 40 start-ups andsome of India's entrepreneurs in the fight against COVID-19."ACT has disbursed grants to 39 start-ups in 43 days.These grants fall in the areas of telemedicine, mass scaletesting, patient tracking, suspect monitoring, contact tracingand manufacturing of PPE kits, all geared to combat COVID-19,"the statement said.Mohit Bhatnagar, a spokesperson from ACT Grants, said,"We share the same philanthropic outlook of all thefoundations involved, and look forward to working with andleveraging their experience and expertise to serve ourobjective."Geeta Goel, Country Director, Michael and Susan DellFoundation, said: "Our partnership with the ACT Grants teamwill enable teams to address quick local solutions to minimizethe risks created by COVID-19."ACT is a coalition of VCs, start-up communityfounders, entrepreneurs, investors and other industryveterans, according to the statement.The team has come together to provide grants betweenRs one lakh and Rs ten crore to start-ups and initiatives thatare harnessing technology to create large-scale impact in thedetection, prevention and eradication of COVID-19, it said.ACT Grants is an initiative set up by VC firms such asSequoia India, Accel Partners, Lightspeed Ventures, SAIFPartners, Matrix Partners, Nexus Venture Partners, KalaariCapital, Chiratae Ventures, and Omidyar Network along withentrepreneurs like Mukesh Bansal and Abhiraj Bhal in order tosupport the fight against COVID-19 by leveraging technologyfor scalable impact, it was stated. RS SS

ACT Grants partners with Gates Foundation, MSDF & Wadhwani Foundation for combating COVID-19

<ul><li>It is universally acknowledged that bridging the <keyword id="456269" type="PERSON" weightage="20" keywordseo="gender-gap">gender gap</keyword> in India is not just a dire need, but a herculean task. </li><li><keyword id="9770953" type="AGENCY" weightage="20" keywordseo="Atul-Raja">Atul Raja</keyword>, Executive Vice President - Global Marketing at <keyword id="179398" type="COMPANY" weightage="20" keywordseo="Wadhwani-Foundation">Wadhwani Foundation</keyword> writes why it is important to build an inclusive work culture. </li></ul>For long, organizations have ignored the value, importance and power play of <keyword id="499855" type="PERSON" weightage="20" keywordseo="Gender-diversity">gender diversity</keyword> despite many studies postulating that teams with a ‘balanced’ <keyword id="2756079" type="PERSON" weightage="20" keywordseo="gender-mix">gender mix</keyword> perform significantly better on critical parameters like revenue and growth. Gender Diversity in India In India, gender diversity bias is even more predominant. As per the ‘DivHERsity Benchmarking Report 2019’ which studied gender diversity in the Indian workplace across 300+ companies, only a quarter of India's workforce is female. This is corroborated by the ‘India Skills Report 2018’ that puts the economic participation of women in the workforce at 23% in 2018, a disconcerting fall from 32% in 2016. It is universally acknowledged that bridging the gender gap in India is not just a dire need, but a herculean task loaded with multiples challenges like work-family balance, choice of job profiles, work-place conditions and most importantly a mindset and attitudinal change. With India ranked 142 out of 149 countries in the economic opportunity and participation of women index [as per The <keyword id="2573327" type="PERSON" weightage="20" keywordseo="Global-Gender-Gap-Report">Global Gender Gap Report</keyword> 2018 of WEF], there needs to be concerted effort to increase India’s female labour force participation closer to the global average of 49%. Benefits of a Gender-balanced Workforce The nascent gender diversity across most companies in India has seen many roles such as oil and gas, manufacturing, construction and engineering with a male skew. On the flip side, there are also traditionally female-dominated jobs, such as elementary education and nursing. This is a glaring gap as global research, surveys and data-points clearly exhibit that companies which practice greater gender diversity have reported inherent benefits as they fully leverage and utilize the talent available: <ul><li>Improved financials and profitability: women in leadership positions, mixed-gender boards and pervasive presence across the rank and file have yielded better financial performance.</li><li>A better ‘employer brand’ perception: a progressive and positive reputation will attract the best talent.</li><li>Employee retention: inclusive culture is a booster for motivation and morale.</li><li>A loyal and broadened customer base: a diverse talent pool makes it easier to attract an increasingly diverse customer base. </li><li>A quality-focused shift: since diverse teams are more creative and better at problem-solving, a better gender-mix signifies the shift from quantity to quality.</li></ul>Creating Greater Gender Diversity There has to be a clear distinction between gender diversity and gender equality. Gender diversity doesn’t mean a 50:50 mix of males and females across the organization but a fair representation of both sexes and the critical fact that the hiring team should have an open mind for any openings without assumptions or prejudices. A shift towards a more gender-balanced organization requires structural and systemic changes: 1. A shift in the ‘human capital’ strategy: the diversity strategy to be strongly intertwined with the recruiting strategy e.g. removal of gender-coded words from job descriptions and postings. 2. Internal Communications thrust: an internal mindset build-up is essential to begin on the right footing and to shake-up any pre-conceived notions. 3. Leaders to be champions of diversity: creating an open, inclusive culture. 4. Women Leadership Programs: developing an internal pipeline as a ‘walk the talk’ showcase both internally and externally. 5. A balanced pay and benefits structure: robust, family-oriented perks that account for any ‘unintentional’ bias. Small steps at organizational and employer levels can prove to be a great national asset. As per a McKinsey Global Institute (MGI) report titled, “The Power of Parity: Advancing Women’s Equality in Asia Pacific”, addressing the gender parity issues could lead to 18% higher GDP for India, i.e. $770 billion by 2025. So, if we are able to bring more women into the workforce, the potential for impact is immense, transformational and with far reaching implications. - By Atul Raja, Executive Vice President - Global Marketing at Wadhwani Foundation

Gender Diversity: The secret weapon for an organization’s success

New Delhi, Jul 7 () The Wadhwani Foundation, set up by US-based entrepreneur Dr Romesh Wadhwani, has committed a Rs 200 crore funding under its 'Sahayata' initiative to assist small and medium-sized businesses affected by the coronavirus pandemic. The foundation said that the Sahayata initiative will support 10,000 SMEs with business survival, stability and growth consulting to help save or create up to 100,000 jobs in the country. It has also pledged to provide skills training to up to 10 lakh Asha, Anganwadi, nurses, aides and home-health workers for the care of COVID-19 patients. The initiative will also provide grants to up to 50 start-ups to help accelerate innovation in public health technology in India. Romesh Wadhwani, Founder and Chairman, Wadhwani Foundation, said, "The foundation's large investment in Sahayata supplements the government's massive stimulus package by providing 10,000 SMEs with consulting services that will help them survive, stabilize, and ultimately grow into successful businesses and help save or create 100,000 jobs". CPS MR

Wadhwani Foundation commits Rs 200-cr to help COVID-19 hit SME businesses

<ul><li><keyword id="328347" type="ORGANIZATION" weightage="20" keywordseo="Indian-Angel-Network">Indian Angel Network</keyword> has closed its fundraising for the <keyword id="6129174" type="UNKNOWN" weightage="20" keywordseo="IAN-Fund">IAN Fund</keyword> after raising at ₹375 crore.</li><li>The fund over exceeded its target by ₹25 crore. </li><li>It currently has 34 companies in its portfolio, including the recently turned unicorn startup Druva.</li></ul>Seed and early stage investment platform Indian Angel Network closed its capital raising activity for the IAN Fund as it overshot its target by ₹25 crore. The fund raised ₹375 crore in all. “The fact that we have achieved and exceeded our capital target underlines our impressive growth trajectory and highlights the faith that investors have in our vision. Moving ahead, we aim to scale newer heights and play a bigger role in transforming and nurturing India’s entrepreneurial landscape,” said Padmaja Ruparel, founding Partner of the IAN Fund. Some of the fund’s participants include Institutional investors like SIDBI’s Fund of Funds for <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">Startups</keyword>, IIFL, Wadhwani Foundation, Yes Bank, Max Group, Gray Matters Capital, and Hyundai. Individual investors like Kris Gopalakrishnan, Sunil Munjal, Rajan Anandan, Kanwal Rekhi too invested in the fund. IAN fund was founded in 2017 and since then it has been an active angel investor. It has 34 companies in its portfolio, including Druva which recently turned a unicorn. The other startups it funded includes the QSR chain Wow Momo, wedding platform WedMeGood. The sector agnostic fund primarily invest in AI and machine learning, augmented and virtual reality, biotech, cleantech, fintech, agritech and healthtech.

Indian Angel Network closes its fund after raising ₹375 crores

<ul class="summary-list"><li>The US has sought to improve its relationship with countries in Asia to counter <keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword>'s rising influence.</li><li><keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword> has been a major target of that effort, but New Delhi's purchase of major Russian weapons may complicate the US's engagement.</li></ul>US efforts to build closer ties with India face a test later this year, when New Delhi is set to receive the <keyword id="3094666" type="PERSON" weightage="60" keywordseo="S-400">S-400</keyword>, a Russian-made air-defense system that the US has already sanctioned other countries for buying.India will get its first S-400 set by the end of 2021, India's ambassador to <keyword id="6358826" type="LOCATION" weightage="60" keywordseo="Russia">Russia</keyword> said at the end of April, <a href="https://tass.com/defense/1284941" target="_blank" rel="noopener">according</a> to Russian state media. New Delhi announced its intention to buy the S-400 in 2015 and signed a contract worth more than $5 billion for five regiment-size sets in 2018.The S-400 - which Russia says can destroy aircraft, cruise, and ballistic missiles, and hypersonic weapons - is set to arrive as India is increasingly focused on countering a Chinese military that fields sophisticated aircraft and long-range missiles.A deadly clash on their disputed border in the Himalayas in June 2020, the first in decades, prompted Indian Defense Minister Rajnath Singh to urge Moscow <a href="https://www.businessinsider.com/after-border-clash-with-china-india-urges-delivery-russian-s400-2020-6" target="_blank" rel="noopener">to speed up the delivery</a>.<div type="image" title="Lloyd Austin Rajnath Singh India" height="1215" width="2000" msid="82559554" hostid="261"></div>The sale has been a sticking point for the US. The Trump administration <a href="https://www.businessinsider.com/amid-trade-war-the-us-sanctions-china-for-buying-russian-weapons-2018-9" target="_blank" rel="noopener">sanctioned China for purchasing the S-400</a> in late 2018 and <a href="https://www.businessinsider.com/trump-administration-reportedly-sanctioning-turkey-over-s-400-2020-12" target="_blank" rel="noopener">then sanctioned Turkey for buying it</a> in December 2020.Russia has been a major arms supplier to India for decades. Those sales <a href="https://www.sipri.org/media/press-release/2021/international-arms-transfers-level-after-years-sharp-growth-middle-eastern-arms-imports-grow-most" target="_blank" rel="noopener">have declined</a> in recent years, but India still uses many Russian weapons, such as fighter jets and warships, and relies on Moscow to maintain them.The Biden administration hasn't taken a public position on sanctions for that purchase. Defense Secretary Lloyd Austin discussed the sale with his Indian counterpart in March but said sanctions weren't mentioned."We certainly urge all our allies and partners to move away from ... that [Russian equipment] and really avoid any kind of acquisitions that would trigger sanctions on our behalf," Austin said in New Delhi on March 20."There has been no delivery of an S-400 system, and so ... the issue of sanctions is not one that's been discussed," Austin added. "But we did address with the [Indian] minister of defense the issue of the S-400."The Defense Department has not had "any additional conversations with India about this planned acquisition" since Austin's visit, a department spokesman told Insider, adding that the Pentagon is focused on assisting India with a COVID-19 breakout that is one of the worst in the world.<h2>Strategic autonomy</h2><div type="image" title="modi putin hug" height="1385" width="2000" msid="82559555" hostid="261"></div>US-India relations have been ascendant, due in large part to shared concern about China's growing influence. The <a href="https://www.businessinsider.com/us-intelligence-sharing-with-india-helps-monitor-chinese-military-2020-12" target="_blank" rel="noopener">two countries' military cooperation</a> has increased, but India has sought to maintain its ties with Russia, a reflection of its desire for "<a href="https://www.scmp.com/week-asia/politics/article/3131683/message-us-and-china-india-and-russia-put-two-and-two-together" target="_blank" rel="noopener">strategic autonomy</a>."While US sanctions over the S-400 weren't discussed in Austin's meeting, they are seen as likely to undercut Washington's efforts to work closer with New Delhi."That's going to really undermine the relationship, and we need to avoid that," Joe Felter, deputy assistant secretary of defense for South Asia from 2017 to 2019, said at a recent panel event hosted by the Joint Special Operations University."But India needs to play ball with us and understand that ... buying US equipment is not only investment in quality defense equipment," Felter added. "It signals who you want to build your relationship with."Indian officials, however, may bristle at sanctions, seeing them as interference in their affairs and disregard for the <a href="https://www.theweek.in/news/india/2020/12/09/us-arms-sales-to-india-zoomed-to-3-4-billion-in-trump-govts-final-year.html" target="_blank" rel="noopener">billions</a> India has already spent on US weapons, while remaining undeterred from purchasing Russian arms. (India already <a href="https://theprint.in/defence/india-russia-agree-on-new-payment-mode-for-s-400-deal-to-get-around-us-sanctions/260341/" target="_blank" rel="noopener">had to navigate</a> US sanctions to pay for the S-400.)<div type="image" title="Biden Suga Modi Morrison India Japan Australia Quad" height="1334" width="2000" msid="82559556" hostid="261"></div>"For the next couple of years I don't think there is going to be an attempt at jettisoning that relationship [with Russia] from the Indian side," Nandan Unnikrishnan, a distinguished fellow at Observer Research Foundation in New Delhi, said at a recent <a href="https://www.wilsoncenter.org/event/global-perspectives-indian-russian-relations" target="_blank" rel="noopener">Wilson Center</a> event.While Indian defense spending is likely to continue declining and be spread among more suppliers, "India is going to buy some of the necessities it has from the Russians because it's not available anywhere else," Unnikrishnan added.The 2017 US law that requires sanctions also contains a waiver <a href="https://www.state.gov/countering-americas-adversaries-through-sanctions-act-of-2017/sections-231-and-235/" target="_blank" rel="noopener">provision</a>. US officials have <a href="https://www.businessinsider.com/joe-biden-may-be-as-harsh-trump-india-missiles-says-dc-expert" target="_blank" rel="noopener">reportedly told</a> India it is unlikely to get a waiver, but at least <a href="https://foreignpolicy.com/2021/04/12/united-states-india-quad-china-russia-s-400-caasta-waiver-biden-modi/" target="_blank" rel="noopener">one US lawmaker</a> has called on Biden to grant one.While the Biden administration has said little about the issue, "signaling on the strategic relationship is broadly positive," according to Richard Rossow, Wadhwani Chair in US-India Policy Studies at the Center for Strategic and <keyword id="6356001" type="UNKNOWN" weightage="60" keywordseo="international">International</keyword> Studies.Austin's visit to India was his first foreign trip, and it came a few days after Biden himself joined his Indian, Australian, and Japanese counterparts at the first meeting of leaders of "the Quad," an informal grouping focused on cooperation in the Indo-Pacific region."Considering our overall awareness that India plans to onboard the S-400 missile-defense system at some point over the next two years, these are key signals," Rossow said.

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ACT Grants partners with Gates Foundation, MSDF & Wadhwani Foundation for combating COVID-19

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Gender Diversity: The secret weapon for an organization’s success

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Wadhwani Foundation commits Rs 200-cr to help COVID-19 hit SME businesses

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Indian Angel Network closes its fund after raising ₹375 crores

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Russian weapons are creating a headache for the US as it looks for partners to counter China

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