HCL Foundation on Sunday said it will spend Rs.100 crore over the next five years to support NGOs and social leaders who are implementing projects for the upliftment of the country.
"The Foundation launched HCL Grant, an initiative to support NGOs and individual social leaders who are implementing projects for upliftment and development of the country," the foundation said in a statement here.
HCL Foundation is a Corporate Social Responsibility Trust, supported by employees' contribution of Re.1 per day and matched by the HCL management.
"In its first year, one winning NGO will receive a grant of Rs. 5 crores," the statement said. "A sum of Rs.100 crores would be spent over the period of next five years through this initiative."
Six finalists have been selected from a pool of over 400 NGOs from across the country for the initiative. The winning NGO will be announced on Monday.
HCL Foundation said that while in the first year, HCL Grant is being given to one NGO in the education sector, in the subsequent years, NGOs and individual social leaders from the area of healthcare and ecosystem development would also be eligible for individual grants of Rs.5 crore each.
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"Through HCL Grant, our aim is to support NGOs by institutionalising the processes and frameworks and also recognise contributors for the upliftment of India," HCL Technologies board member and jury chairperson of HCL Grant Robin Abrams said.
"Through HCL Grant we will be able to identify the right kind of NGOs and institutionalise them through their capacity and capability building," HCL Foundation head Srimathi Shivashankar said.