ASSET India Foundation

The primary mission of the ASSET is to provide computer literacy for education towards alternate livelihood and as a means of AIDS prevention. The program is designed to assist the children to attain a level of education and familiarity with technology that will enable them to free themselves from being chained to the same profession. The ASSET India Foundation supports Education of the children using Computer Based Functional Literacy and small business ownership using Microfinance.
Sep 1, 2010

Using Microfinance for student fees

ASSET-Mumbai students, guests at annual function
ASSET-Mumbai students, guests at annual function

I am pleased to report the ASSET center in Mumbai again has achieved 100 % placement for the students in the last batch. This center is located in the heart of the red light district in Mumbai.

Mary Ellen Pietruszynski, Executive Director of Sooch Foundation- a major ASSET donor- will be visiting the ASSET Mumbai center in November 2010. As we continue to grow, our biggest challenge is to build on the success and make the ASSET project viable over a long period of time.

For the long term sustainability, I am exploring the use of microfinance for student fees. In this model, students will take micro loans to cover the tuition cost and repay within 6 - 12 months after being placed in a job. ASSET India Foundation will be the guarantor for the loans. Average student loan will be $ 100 to $120 ( Indian Rupees 4500- 5,000). This will include annual maintenance for the computers but not the replacement costs. Computers will be replaced by ASSET as and when needed. Here are some preliminary ideas: 1. Each center will train a minimum of 100 students per center Maximum 120 students per year in 3 batches 2. Annual budget per center is $9,000, including annual maintenance of computers and student transportation 3. ASSET is in the process of identifying reputable microfinance organizations in each city where ASSET has centers. 4. Each center should produce the photo and short bio of each that ASSET will post on its website. 6. Donors can donate to the ASSET Microfinance fund pool and request that the money be use fpr particular student (s) 7. . Computer costs not included in loan amount. SMILE and ASSET will identify seperate funds for computer replacement.

8. ASSET has retained the services of INNOVAID (www.innovaid.in) to assist in establishing the microfinance.

ASSET/INNOVAID plan to set up a pilot program at the ASSET Mumbai center by January 1, 2011.

I would greattly appreciate your thoughts, comments regarding this plan.

Thank you

Jun 9, 2010

$20,000 Grant from Dell

ASSET received a grant of $20,000 from Dell. The money is being used for additional computers for our center in Hyderabad. Our partner organization Prajwala has rescued nearly 5,000 girls from sex trafficking. These additional computers will help train more girls in several locations.

May 3, 2010

Interviews of ASSET students=Mumbai

This video contains the interviews of children of sex workers attending the ASSET training program in Mumbai. Nearly all of the students who have completed the training are employed contributing to their family. Many students from the U.S. Have visited the ASSET center in Mumbai and have interacted with them.

http://www.facebook.com/l.php?u=http%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3Dwph6svsGPzU&h=75590

This center is located in a dilapidated municipal school building in the heart of the red light district.

The photo below shows Somu Nepali, who successfully completed the ASSET program and now has a job . Here she is addressing girls rescued from trafficking and children of sex workers, urging them to stay in school, finish the ASSET training.

http://www.facebook.com/photo.php?pid=4462174&o=all&op=1&view=all&subj=357122095006&aid=-1&id=679411985

Dell’s VP & Chief Marketing Officer Erin Nelson will be a key note speaker and 5 Dell women VPs will be speaking and participating at the upcoming Global Women’s Summit http://www.globewomen.org/summit/Summit.htm, being held in Beijing May 20-22. ASSET graduate Somu Nepali's will be one of 3 featured stories about individual girls who have been impacted by Dell YouthConnect funded programs. The emphasis is on how education makes the difference as the great equalizer – with education, we all have a chance.

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