SVB Global Invests in India's Social and Economic Growth; Company Donation Helps Underprivileged Bangalore School Open Computer Lab
Company News | November 6, 2006
"We are most proud that SVB Global has chosen to commit its time and financial resources to AIF's work to improve resources for students in India," said Mythili Sankaran, director of the Digital Equalizer Program of the American India Foundation. "SVB's passion and commitment to India's social environment and its business community is admirable and we will count on SVB for its wisdom, expertise and financial support in the years to come."
The AIF's flagship program, Digital Equalizer, aims to provide opportunities for underprivileged children in India to enhance their learning through the use of digital technology. In India less than one percent of the population owns a personal computer and just over one percent uses the Internet. AIF's work increases opportunities for children through access to digital technology and computer literacy programs using computers, the Internet and other digital technologies.
"SVB Financial Group has a long history of actively dedicating resources to impact our local communities positively, making them better places to live and work, and that's no exception in the global markets we serve," said Ash Lilani, head of SVB Global. "As a leader in the development of the technology ecosystem in India, we believe we have a responsibility to extend the benefits of technology to the local community in meaningful ways that can have a lasting economic impact. By engaging young people in technology and offering them access to training and the Internet, AIF is helping improve the lives of Indian children and we wanted to be part of that."
SVB Global's donation to AIF will maintain the Digital Equalizer program at the Government High School in Cottonpet, Bangalore for three years. The SVB Global team, including employees of SVB India Advisors in Bangalore, will regularly volunteer at the school, helping to maintain the equipment and train students and teachers. SVB's financial commitment is made, in part, by the SVB Foundation, which provides grants to organizations that improve education, the arts and the quality of life in SVB Financial Group's surrounding communities.
In support of the American India Foundation, SVB Global is also hosting the organization's fifth Bay Area Summit focused on "Access to Education for Marginalized Children" on Tuesday, November 7, 2006 from 5-8:30 p.m. at SVB's Santa Clara, Calif. headquarters. For more information or to register for this event visit www.svb.com/events.
About SVB Global Since the early 1990s, SVB Global has been calling on international markets and building relationships with technology companies, entrepreneurs, venture capitalists and service providers worldwide. It helps technology companies and private equity firms navigate foreign markets and identify opportunities in those markets and the U.S. SVB Global assists clients with market intelligence and furthers the company's global strategy by developing business relationships through dedicated teams serving Asia, India, Israel and Europe, and through SVB Financial Group's 27 domestic and three international offices. SVB Global is a member of global financial services firm SVB Financial Group, with SVB Silicon Valley Bank, SVB Alliant, SVB Analytics, SVB Capital and SVB Private Client Services. More information about SVB Global can be found at www.svb.com.
SVB Business Partners (Shanghai) Co. Ltd., SVB India Advisors Pvt. Ltd. and SVB Europe Advisors Ltd. are subsidiaries of SVB Financial Group, are not licensed to conduct banking business in China, India or the United Kingdom, and do not engage in unlicensed banking activities. Banking services are provided by Silicon Valley Bank. Silicon Valley Bank is a member of the FDIC and the Federal Reserve and it is the California bank subsidiary of SVB Financial Group, which is also a member of the Federal Reserve.
About The American India Foundation (AIF) The American India Foundation (AIF) is a leading international development organization charged with accelerating social and economic change in India. By mobilizing people and resources across the United States, AIF has raised over $33 million since its inception in 2001. AIF awards grants to education, livelihood, and public health projects in India - with emphases on elementary education, women's empowerment, and HIV/AIDS, respectively.
AIF also administers three distinct programs: (1) Digital Equalizer, which bridges the "digital divide" by providing computers, Internet access, and training to under-resourced schools; (2) Service Corps, which develops young American leaders by placing them with Indian non-profits based on skills and need to gain first-hand development experience; (3) the League of Artisans, which creates sustained livelihoods for underprivileged artisans -- particularly tribal, rural and women artisans -- and thereby improves their economic and living conditions.
AIF works out of New York and Silicon Valley in the U.S., and New Delhi and Bangalore in India.
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