From the Business Today profile of the philanthropic investment firm founded by Pierre Omidyar, founder of Internet company eBay. Unlike other philanthropic organisations, ON does not come with a project-centred approach. Rather, it enters with the intention of building institutions. The two main requirements are: the organisation should fit into the ON portfolio and be scalable. Swati Ramanathan, Chairperson of the Indian Urban Space Foundation and co-founder of Janaagraha, an NGO working on urban quality of living, says the benefit of ON comes from its disciplined funding. In Janaagraha's case, while $3 million (Rs 13.8 crore) was given for three years, a third of the funds is for unrestricted use, while another third is tied to achievement of pre-determined metrics and the final third portion depends on the ability of the organisation to raise at least twice as much from other sources. This, according to Jayant Sinha, Mumbai-based Partner, ON, ensures that the organisation mak...