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Omidyar Network Expands Reach into India and Contest

Rishi Malhotra August 25, 2010

The Omidyar Network, which has been involved with SOCAP, is planning on putting up to $200 million into Indian social enterprises in the next five years. It is planning on opening an office in Mumbai this September.
So far, the Omidyar Network has invested $60 million into organizations that work in India, including D. Light Design, Quickr, as well as microfinance organizations and mobile banking. Future businesses that it plans on funding are technologies to make government more transparent, social media companies, and social media companies. The Omidyar network uses patient capital in which it waits much longer to get its invested funds back so it can invest in other companies, much like the Acumen Fund, whose CEO is Jacqueline Novogratz (a SOCAP10 speaker). It hopes that the investments made in India will be able to be replicated and used in other areas such as Africa and other developing countries.
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In addition, the Omidyar Network is partnering with Ashoka Changemakers to hosting an online competition about property rights. The competition is called The Property Rights: Identify, Dignity, and Opportunity for All and is working on finding the top leaders in increasing access to property rights. Entries must show a variety of ways to expand property rights to the landless, formalize property rights where they do not exist, or improve legal education around the benefits of laws that protect these rights. Entries are accepted until November 3 and three winners will be selected to win $50,000 each.

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