Despite $60 billion dollars going toward philanthropic causes each year, no philanthropist can identify a problem they have actually solved. While hungry people may be fed, and homeless people may be given a place to live, the problems of hunger and homelessness still exist. The same cannot be said, however, in other endeavors which involve large sums of money. Of such example is the tech industry.
In the tech industry, problems are identified, researched, developed, and eventually solved. Take the iPhone, for example. Philanthropic efforts do not end problems, and thus the money might be better spent elsewhere. This is not to say philanthropy is a bad thing, but we may want to consider where these billions of dollars in grants handed out each year are actually going.
A customized collection of grant news from foundations and the federal government from around the Web.
Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.