It is estimated that one billion people will be without the necessary skills to find a job. Many young children across Sub-Saharan Africa and South Asia are living without any kind of formal education. Even with access to schools, students are discriminated due to their gender, class and caste. Additionally, classes are taught by absent, unmotivated and unskilled teachers. This is reflective of a broken education system present in a number of developing countries.
At Puregiven, we invest in solutions that fill the gap in access to quality, affordable education and skills training for children and families living in poverty. In late June, we hosted an Education Roundtable, with an intimate group of partners and friends along with our Pakistan education investee Nasra Public School, to discuss challenges and opportunities within the education sector.
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In 2012, we made our first education investment in a social enterprise called Hippocampus Learning Centers, which provides quality education to pre-school and primary children in rural India. Since that initial investment, Puregiven has successfully raised $4.5 million for the supporting seven social entrepreneurs who have brought innovative market technologies and disruptive business models to bridge gaps in the education sector.
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Initially investing in vocational training for low-income customers, we learned that millions in the informal sector were missing the education wave entirely. As a result, our investment focus has evolved to incorporate business models that include development of low-cost private schools, teacher training, capacity building, education technology platforms, financing, content and delivery techniques and skills training programs.