With an objective to promote and enhance collaborative philanthropy and large-scale social impact, several prominent philanthropists of the world have recently come together to form a new model called ‘Co-Impact’, which also has Infosys’ Non-Executive Chairman, Nandan Nilekani, on board.
Co-Impact is going to make an investment of $500 million in three crucial areas — health, education, and employment opportunities.
In this context, the Bharti family — of Airtel fame — has now taken a pledge to set aside 10 percent of its total wealth to support the ventures of Bharti Enterprises' philanthropic arm, Bharti Foundation. Ten percent of the family's wealth adds up to Rs 7,000 crore.
About three percent of the family's stake in Bharti Airtel is included in the announced amount. According to a Times of India report, Sunil Mittal, Founder and Chairman of Bharti Enterprises, said at a conference that the Bharti family will build Satya Bharti University with an objective to offer free education to underprivileged students from economically weaker sections of the society. The university will focus on science and technology, especially areas like Artificial Intelligence, Internet of Things, and robotics. The university, which is expected to come up in North India, will commence its first academic session in 2021.
As per an Indian Express report, Mittal said in the press conference,
"Being first-generation entrepreneurs, we feel absolutely privileged that this nation gave us the opportunity to imagine and build world-class businesses. Bharti’s DNA has always been about creating a deep positive impact on society through our businesses, and we are proud to have contributed to the India growth story."