The story of Indian philanthropy is largely a story of business families and some business dynasties. Jamsetji Tata (1839–1904) is regarded as father of modern Indian philanthropy. In the West, US, the most commercial nation is also the most philanthropic, showing that commerce and philanthropy are not polar opposites. Warren Buffett and Bill and Melinda Gates launched the Giving Pledge in June 2010. It means that signatories publicly commit to give away at least 50 per cent of their wealth, either during their lifetime or afterwords. As of now, there are 114 pledgers which include Azim Premji, and few others of Indian origin. The beginning of a churn in global philanthropy, is seeing emergence of many such experiments, and is also spawning a plethora of quaint implementing mechanisms, investment ideologies and hybrid organisations. This new approach to philanthropy which is essence of the paper can subsidise development of business models that impact investors take to scale; and it can provide risk capital to prove a business concept.
Charity, Philanthropy, Catalytic Philanthropy, Framework for Effective Philanthropy
