The growing importance of sell-help groups and non-profits under the Narendra Modi government’s push for “Sabka Saath, Sabka Vikas…” is set to get a further boost with a former IITian coming up a new-age platform for transparent and outcome-based financing for NGOs.
Promising to reduce over one million NGOs’ reliance on government funding and accelerate the country’s march towards a higher in human development index, alumnus of IIT-Delhi and FMS Anurag Gangwar has created a platform called Impactverse to strengthen the financing ecosystem for non-profits, making it transparent, accessible, and focused on measurable outcomes.
“Impactverse is born out of a vision to enable small and mid-sized non-profits to raise outcome-based financing,” said Anurag Gangwar, at the launch of the platform at the Parinaam 2023 Summit, an event that brought together donors, investors, practitioners, government officials, and thought leaders. The keynote sessions at Parinaam were delivered by industry stalwarts, including Ashish Dhawan, Founder & CEO of Convergence Foundation, and Dr. R Balusubramaniam, Member-HR, Capacity Building Commission, GOI, & Chair-Social Stock Exchange (SSE).
Gangwar said his close association with small grassroots organizations made him realise the need for a technology-driven transformation in the ecosystem. Before founding Impactverse in 2021, he managed SEA investments for the International Finance Corporation (IFC). “Impactverse has the potential to revolutionise the way non-profits are funded,” said Rani Patel, founder of NGO Aarohan. “By focusing on outcomes, the platform ensures that resources are directed towards the initiatives that are having the greatest impact.”
The Impactverse platform, designed to make it easy for non-profits to raise funds for verified outcomes, offers a range of features, including simplified standardised contracts, funder and non-profit pipelines, legal and auditing support, and an AI-powered chatbot.
With the aim of empowering one million non-profits to transform their communities by 2030, Impactverse also promises to pave the way for non-profits which are looking to access funding for impact-driven results.
Parinaam 2023 saw participation from over 300 delegates and over 30 speakers. The event brought together stakeholders from across the non-profit ecosystem to discuss the future of outcome-based financing.