Let's divide this phrase into three parts for better understanding: •What is welfare? • What is funding? • What do they mean as a whole?
Welfare, social welfare, and public welfare; all mean the same thing. It is basically support provided by the government to the people of the society in order to assure that everyone has access to essential things that are required to live. For example clean water, quality education, 2-3 meals a day, etc.
Now, coming onto funding or financing can be considered as an act of coming up with resources to finance a program, scheme, or project. Furthermore, combining these two terms; that is public welfare and funding;
Public Welfare Funding would mean raising capital or resources in an effort to contribute to the total capital that could be further put in for the welfare of the society. Now, let's penetrate deeper into this concept. •What would be the sources for the funding? it could be donations, savings, grants, subsidies, etc.
• What would be the different procedures for this kind of funding? - Government grants - Investors These are some of the most common methods or procedures to raise funds for the welfare of the public. Government Grants At times government or government agencies allocate funds for various projects, government policies, and schemes that are meant to benefit society.
The government also provides grants to researchers, students, or to organizations through a particular process for projects that benefit the public. These grants also help firms create more employment, sales, capital, and innovation. R&D; research and development; require a lot of capital and not all firms have that. For these firms, government-given grants come in really handy. This also in turn encourages more people to engage in R&D which in turn would lead to innovations and parents. All of this would help in boosting the country's development as well. Grants of these kinds could also be further extended to small-scale and medium-scale industries. In turn, helping in increasing the quality of life and employment.
For example, the Government has realized technology is the way through which Indian startups and companies can compete with global competitors. CLCSS (credit linked capital subsidy for technology Upgradation) which is a government scheme. It provides a 15% subsidy investment of up to 1 crore rupees to startups and MSMEs in India to upgrade their technology. Investors NGOs can raise investment or capital through investors, which they can use for the proper functioning of their organization, spreading awareness, and spreading help if the organization works for rural and poor women they could use that money for providing them with sanitary napkins if they work for children they can use it for stationary, books, meals, etc.
For instance: Menstrupedia, a company that raised investment through the popular show the
shark tank India. They received investment from Namita Thapar for 50 lakh rupees and 20%
equity. Namita Thapar is an entrepreneur, head of secure pharmaceuticals, and founder of
Thapar entrepreneur academy. This innovative company works towards, as the name suggests,
menstrual education and awareness through a fun comic that makes it super easy for the kids
to learn and be comfortable with menstruation. They also have recently launched a comic for
boys about puberty
