Shifting the Narrative: Philanthropy as a youth-driven investment for a better future
The article highlights the growing trend of young people in India engaging in philanthropy, driven by a desire for systemic change and long-term social impact.
Imagine a 28-year old in Kolkata choosing to spend his Saturday evenings at a night school rather than on a football turf. Picture 18-year old twins volunteering at a community kitchen rather than hanging out with their friends. These are real instances of young people choosing to get involved with philanthropy at an earlier age.
A New Generation of Givers
Philanthropists aren¡¯t just people in the second half of their lives anymore. The evolving landscape of philanthropy is driven by a new and younger generation of do-gooders who see their efforts as a contribution towards a more equitable world.
Traditionally, giving focused on alleviating immediate suffering, but today, more and more givers want to see long-term outcomes and improvements for the communities they choose to support. In fact, several philanthropists, both young and old, are being strategic about their giving, adopting data-driven approaches and identifying areas with high Social Return on Investment (SROI).
For NGOs, while CSR funding can be prescriptive and restrictive, individual giving is unrestricted and can be used for the most urgent and impactful needs. With family philanthropy on the rise, predicted to grow at an annual rate of 16% until FY28, organisations have more access to funds. Data from GivingPi shows the diverse nature of family philanthropy, owing to different participants in the household, especially women and the younger generation.
Investing in Equity
Social Venture Partners (SVP India) ¨C a community of givers, has witnessed a rise in young members (under 35) joining them, either with a parent or on their own. These young guns bring fresh perspectives and a deep commitment to challenge the status quo. For Karan Kishorepuria, a young partner at SVP¡¯s Kolkata Chapter, the hands-on experience of working with NGOs has been enriching and transformative. Karan found that working directly with grassroots organizations not only deepened his understanding of social issues but also allowed him to contribute more effectively.
This trend reflects a broader shift ¨C these new-age donors prioritize systemic change as an approach. Platforms like SVP India Fast Pitch have showcased some phenomenal non-profits working towards lasting change. This exposure allows young philanthropists to align their giving with their values and create a lasting social impact.
Project Second Chance, a Delhi-based NGO is dedicated to empowering former convicts by facilitating their reintegration into society. It rebuilds their lives and helps them attain financial independence. Purnata fights human trafficking and provides rehabilitation for survivors by offering education, skill development and employment opportunities. Vanavil Trust works with marginalized communities, particularly the nomadic and semi-nomadic tribes in Tamil Nadu, by providing them education, healthcare and livelihood support. By supporting these initiatives, SVP India promotes a broader definition of inclusion, ensuring everyone has a chance.
A Symbiotic Relationship
SVP India's work encourages collaboration between established philanthropists and young donors. These young philanthropists bring more than just financial resources. Their tech-savviness and digital fluency are invaluable assets for NGOs navigating the changing online landscape. Additionally, their networks and fresh perspectives can help broaden the reach and impact of social initiatives.
By engaging with young donors, established organizations can leverage strategic philanthropy to maximize impact. This included:
- Impact-driven funding: Funding potential, not just projects. Having a data-driven approach ensures that resources are used effectively to create long-term impact.
- Building capacity: Equipping your partners with the right training, mentorship and networking opportunities to build strong and sustainable organisations.
- Collaborative approach: Connecting NGOs with funders and other stakeholders to leverage collective expertise and resources to maximize impact.
Philanthropy in India is at a tipping point. As we look to the future, the involvement of the younger generation in philanthropy is crucial for building an equitable society. By embracing these new-age donors and their vision for the future, we can ensure a more inclusive and impactful philanthropic ecosystem.
Authored by Govind Iyer, Founding Board Member and All India Chairperson of Social Venture Partners in India (SVP India)
