The Bombay Chamber established the Foundation in 1995 to sponsor, promote and support policy initiatives for the betterment of Bombay and welfare of its inhabitants and to make the city a better  place to live, work or visit.  While the Foundation is primarily engaged in research, its advocacy functions are done by Bombay First, which is registered separately under The Societies Act. Currently, Bombay First operates from leased offices in the Y B Chavan Pratishthan while the BCPRF functions from the Chamber offices.