A password will be e-mailed to you.

Service Startups Do Their Part – Launch Relief Funds

As the country continues to power through its 21-day lockdown, few will deny the invaluable service that has been continuously provided by service-based startups during this time. As citizens have been confined to their homes, delivery and ride-hailing platforms have taken center stage to assist the quarantined masses

A number of companies have, however, taken the initiative to go above and beyond. Relief funds have been launched by a certain prominent startup entities in an effort to minimize the economic burden on their shareholders. This includes funds to support those employees that may be out of work during the lockdown period, struggling ancillary businesses, or simply the general public.

Ola Cabs launched their Drive The Driver Fund to support the country’s cab, auto and taxi drivers, whether or not they work for Ola. The funds will be used to provide Covid19 medical insurance to drivers and their families, as well as send care packages, including essentials items, groceries, etc. Apart from this, the company has also provided lease waiver for all leased cars, and an interest-free weekly credit to all drivers, to cover essentials.

Swiggy too recently announced the launch of its Covid Relief Fund. The fund was kicked off through the initial donation, by CEO Sriharsha Majety, of 50% of his annual salary. The fund, as stated by Swiggy “will be used for the welfare of our delivery fleet and their families”, including sustenance and medical support

Zomato on Thursday announce the launch of its own Zomato Gold Support Fund. The company has pledged to donate its revenue from the purchase of a Zomato Gold membership to the Fund, which will be used to assist struggling restaurateurs and their support staff.

As a large percentage of the population find themselves out of work or unable to work from home, these projects could prove to be a lifeline to those eligible avail them.

 

Comments

comments

No more articles
Send this to a friend