Gates Foundation Invests $1mn in CHF to Create Economic Opportunity using Virtual Marketplace

[In continuation of our theme on Social Entrepreneurship, here is an interesting development targeted towards India’s rising and unorganized labour class.]

Bill & Melinda Gates Foundation has invested $1mn in CHF International, an international development organization to connect people in India’s slum with jobs using cellular technology.

CHF plans to create economic opportunities for thousands of workers who are excluded from the traditional employment market by creating a virtual marketplace. Through a groundbreaking mobile program called LabourNet, CHF is currently creating such a marketplace to connect day laborers in the slums of India with much needed employment.

Social Entrepreneurship - How LabourNet Works

LabourNet uses mobile technology, such as automated, multilingual SMS messaging, GIS and GPS applications, to announce daily job openings. It provides training opportunities, access to health insurance, ability to open bank accounts and receive proper identification cards for workers who have been denied these social benefits.
LabourNet also offers assistance to the growing professional class and mid-sized business community who find it difficult to access the unorganized labor sector.

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