With long-distance running, Indian corporates have found an avenue to raise funds for philanthropy and various social causes while also fostering camaraderie among employees
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TCM Sundaram raises funds for breakfast, lunch and dinner. As a venture capitalist, and the founder and vice chairman of Chiratae Ventures, he has dabbled in over $1 billion in assets under management (AUM). But it’s a tiny corpus of ₹52 lakh, which he has raised for charity by running marathons in the past four years, that would perhaps give him greater joy. Â
Through his family foundation, Sundaram, or TCM as he is known, channels the money towards NGOs that work for, among other causes, higher education and palliative care for cancer. In the Tata Mumbai Marathon (TMM) 2023 alone, his fourth, he raised nearly ₹17 lakh towards rehabilitating and skilling the physically challenged as well as cancer care. “My father was the first graduate in the family and the first chartered accountant in the community. Education enabled him to give us a better life. Later in life, we lost him to cancer within a year. Hence, these causes are dear to me,†he says. “When I run marathons to raise funds, I see it as generating awareness about these causes and encouraging people to contribute towards them.â€Â Â
Not just TCM, but more and more corporates are embracing marathons as a platform for raising funds for philanthropy. According to Procam International, a Mumbai-based sports consultancy that organises marathons, over ₹491 crore have been raised by marathons across Mumbai, Delhi, Bengaluru and Kolkata (including a virtual run during the two years of the pandemic), with the Mumbai marathon, the oldest and the grandest, alone raising ₹356.21 crore for over 750 NGOs since its inception in 2004. In 2023, the TMM raised a whopping ₹39.68 crore for its 103 participating NGOs, making it one of India’s largest philanthropy platforms. Â
Of this, the corporate donation (including CSR or corporate social responsibility and employee contributions) over the last five years for the TMM has been around 45 percent, with at least a hundred companies participating in the event every year since inception. In absolute numbers, corporate donation in the Mumbai marathon has surged at a CAGR of 11.28 percent over the last 13 years, going from ₹4.25 crore in 2009 to ₹17 crore in 2023. Â
(This story appears in the 10 March, 2023 issue of Forbes India. To visit our Archives, click here.)