Mumbai, Aug 25 (PTI) Omidyar Network, an investment firm focused on social impact, on Wednesday announced a Rs 14.5 crore commitment to The/Nudge Foundation.

The/Nudge Foundation has been working on alleviating 'extreme poverty' in rural areas, enabling sustainable livelihoods, aspiring to draw talent, capital and resources into the development sector, and developing overall employability of the youth in service sector jobs.

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In a statement, Omidyar said India accounts for 60 per cent of the global increase in poverty. With this, there is an urgent need for innovation and a strong bias for action towards protecting and ensuring equitable access to gainful and dignified opportunities for the most vulnerable, it added.

"We believe in supporting bold entrepreneurs who are attempting to drive social transformation at scale.

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"We think core unrestricted funding enables them to build out their vision by strengthening organisational foundations through early investments in talent and technology," its partner Shilpa Kumar said. HRS hrs

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