Since the implementation of companies act 2013, CSR or corporate social responsibility has been a powerful tool for societal transformation. The act requires companies to allocate a portion of their profits in social initiatives. And since then, there has been a significant increase in the CSR contributions towards education, particular in STEM (science, technology, engineering and mathematics).
In India, STEM education holds immense potential in shaping nation’s future as it can help in creating skilled workforce that can drive innovation, address typical challenges and boost the economic development. It’s the result of giving priority to the STEM education that today, the US has been at the forefront of technology and innovation. Similarly, China has also done massive investments in the STEM education, showing excellence in the fields like space exploration, AI and robotics.
So, if we also lay emphasis on the STEM education, we can get a competitive edge in the global market. CSR initiatives in STEM can help in remarkable progress in the country’s economic growth and technological innovation.
The Growing Inclination of CSR on STEM Education:
As India positions itself as a global leader in technology and innovation, there is significant need for skilled workforce. Although government has started many initiatives such as the national education policy 2020, and Atal tinkering labs, several challenges still linger. Some of them include:
• Significant shortage of qualified STEM educators, and teacher training in STEM education.
• Challenges faced by teachers in schools due to lack of modern teaching tools
• Curriculum lacks practical and hands-on learning opportunities.
• Discouragement in young girls in pursuing career in STEM fields
• Lack of necessary infrastructure like laboratories, libraries and reliable internet connection in schools
• Widening gap between rural and urban areas in accessing quality STEM education
In this context, CSR initiatives help in filling this gap, particularly in rural, remote and undeserved areas. CSR funds for education towards STEM through different strategies including digital learning solutions, infrastructure development, teacher training and scholarships, etc.
Major CSR Initiatives in STEM Education:
In India, there are many leading companies that are launching CSR programs that specifically target on the betterment of STEM education. Some of these initiatives that supported donation for education include:
Infosys foundation:
Infosys has built science centres in rural areas to offer better infrastructure to schools for advanced STEM learning.
Tata Technologies:
TATA group has upgraded Industrial training institutes across the country to introduce advance manufacturing technologies and digital skills training.
TATA consultancy services (TCS):
With TATA’s iON platform, it has become easier for students to get digital learning solutions for better STEM education and digital literacy. The program has reached thousands of students and prepare them for digital literacy.
IBM’s STEM for Girls:
This initiative is focused to empower around 200,000 girls in STEM skills via training and mentorship. The main aim is to bridge the gender gap in digital and technological fields.
Microsoft:
Microsoft has set up Microsoft Imagine Academy that allows students and educators to learn several Microsoft technologies like data science or cloud computing. They have collaborated with schools and colleges to integrate their curricula in these institutions.
Google:
Google has started several programs like “CS first”, a free computer science curriculum and “Code to Learn” to develop coding skills in young generation. For this, the google has partnered with various educational institutions to integrate and implement their programs.
Mastercard’s Girls4Tech program:
Mastercard has launched this special program for girls to learn about STEM topics like fraud detection, digital convergence, data analysis. The main aim is to create future problem solvers through company’s deep expertise in technology and innovation.
Future Prospects of CSR In STEM Education:
Looking ahead, it is clear that CSR will continue to contribute towards STEM programs and will support in building a workforce that can navigate through the challenges in Fourth industrial revolution. In future, CSR is expected to contribute in STEM through
• Fostering gender inclusivity by encouraging girls’ participation in STEM programs
• Integrating advanced technologies like IoT, AI and others in the curriculum
• Strengthening collaboration between educational institutes and industries to prepare students ready for future job markets
• Expanding access to quality education in underserved areas
Conclusion:
CSR has immense potential to bring significant changes in STEM learning in India. However, the key challenge lies in effectively channelling these funds to the right causes. The unspent CSR funds of 1475 crores in FY23 clearly indicates the need for better allocation and direction. There is a need for a platform that can properly direct these funds towards most pressing educational needs and that’s what TrueGiv is all about. So, if you wish to donate CSR funds to schools, we will connect you with the underserved educational institutes to support in their programs.
As the country evolves into a technology-driven economy, Corporate Social Responsibility activities can contribute in India’s long-term growth and success.