The cash is offered to beneficiaries once they submit their business vision to us. There are no other conditions attached and no repayment is required.
Won’t beneficiaries waste the money on alcohol, tobacco and other unnecessary spends? Research shows that beneficiaries of conditional or unconditional cash transfers do not actually spend all their money on alcohol or tobacco (although they may buy limited amounts of luxuries). When given a unique chance, people do use it to improve their life in meaningful ways.
Shouldn’t the beneficiaries be taught exactly what to do with the money?
We believe the beneficiary is best placed to make the right decision on which business to pursue. We will help by providing 1:1 coaching via smartphone, as well as access to their specific business community. This way, they can gain exposure to the smartest ways of thinking about and building their chosen business.
A journey of this kind in 300 days is going to be really tough.
Yes, it will require great determination from the beneficiaries. To solve problems, they will receive guidance from our experienced on-ground partners through an intensive 1-day training and 7 physical interactions during the 300 days. We also facilitate weekly peer group meetings for mutual help & accountability.
As of April 2024, Leap 300 has implemented 8 pilot programs: 2 in the Dewas district of Madhya Pradesh and 6 in the Chandauli district of Uttar Pradesh. We provided a sum of INR 60,000 to 68 beneficiaries, of whom 70% are forecasted to surpass the threshold of daily income > $2.1 per person in 300 days. We will continue testing and refining our proposed model with regular pilot program launches planned for the coming months.
