Remember when we told you about Google’s plans to pledge profits and stock to its philanthropic arm Google.org?
Remember when we told you that Eric Schmidt saw huge opportunity in India?
Remember when Google told us that Google.org was really a screen so that it could find talented workers in growing countries? OK, we don’t remember that part either, but that seems to be part of Google’s master plan for Google.org.
The Soros Economic Development Fund, the Omidyar Network and Google.org said the venture would make investments of between $500,000 and $3.5 million in small and medium businesses in India that lacked access to formal funding options.
“Long ignored by commercial capital markets, small and medium businesses are an attractive investment opportunity as well as an engine for economic growth,” Neal DeLaurentis, vice president of Soros Economic Development Fund, was cited as saying.
While you thought Google.org would focus only on health, energy and environment, it’s busy tapping into the talented, under-paid workers of developing countries.
P.S. We don’t really think this is evil in any way, but we needed to make this kind of dull news sound interesting.