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TA Finance for SGBs - a scarce good down the road?

Posted By Pedro Eikelenboom, PUM Netherlands senior experts, Wednesday, September 21, 2016

Some perspective...once upon a time...

Picture yourself at a roundtable session with the topic ‘financial   instruments to support private sector development – how can business and non-profit collaborate’.  Guest speakers include a representative from a development bank, a public enterprise development agency, a non-profit and an enterprise

It reads like one of the many 'powwows' on the topic, though the invitation to this event has long but expired - it took place in October 2005 in Amsterdam, the Netherlands….


The impact investment eco-system

Fast-tracking time to 2016, there’s a new world created around impact investing. It has grown into an enormous market place for innovative financial (and non-financial) products and instruments. Where investors and prospects meet up, advised by consultants, think tanks, investment networks and so forth.

Many type of impact investors have entered the market, from banks, pension funds, wealth managers, family foundations, governments, development finance institutions and NGO’s. Hereby gradually expanding their investment portfolio into high-risk sectors like agriculture, in challenging countries, and targeting enterprises with ticket-sizes between US$ 100k – 500k.

It’s a shift (change in strategy) by some investors, with many key players shifting their ‘grant funds’ to a ‘return on investment’ portfolio. Is the eco-system creating a scarce good out of grants (in most cases being technical assistance / knowledge sharing) directed to support capacity development within enterprises? 

The true price of grants

Impact investing cannot only be about moving investment capital to riskier endeavors. It’s a combination of capital investments and non-reimbursable investments (the so-called grants). And the latter being a crucial factor in supporting the public good impact through technical assistance or capacity building trajectories for the beneficiaries. Neither is it a combination of 90-10, where grants serve as a bit of technical assistance on the side.

Reaching the enterprises that have growth potential but limited access to finance, means taking risk (call it technical assistance, capacity-building, non-reimbursable grants, first loss, equity stake, if you like) through a structured deal proposal between the impact investor, (perhaps) a development bank, an NGO, a technical service provider and so forth.

Several studies have stated that there is sufficient capital in the world to invest in small and medium sized enterprises (the ‘missing-middle’), in volatile sectors and in frontier markets. So money is not the issue – though the non-reimbursable investments are unfortunately becoming a scarce good due to policy changes within the public and non-profit sector.

However, beyond the non-profit community, grants are often perceived as ‘little strings-attached subsidies’, which require no financial returns. Of course, non-financial impact (social, environment etc.) is sought, though it’s based on expectations (outputs, outcomes). If one fails to reach the objectives, basically there’s not much harm done, it is - in the end - a grant.

How can we change this mindset? Grants do have a ‘price-tag’, value or leverage when dealing with blended finance. I’m sure, many investment deals in frontier markets would and will not happen without some flow of subsidies structured in the deal. Surely not advocating that grants should have a ROI too – next to non-monetary impact (social, environmental) -, but we should not take for granted the indirect value or direct leverage a subsidy has in the impact investment space. What can grant providers request or negotiate more in return for their contribution? Elements such as securing a seat at the board table of an investee (steer company’s public good objectives), or commit private grant funding to the related capacity-building program of an investment.  

Transferring skills & knowledge to secure ROI

Potential investment prospects (enterprises) may have fragile balance sheets, weak governance or inefficient processes. For that reason they are often initially overlooked by investors. As the impact investment marketplace is moving towards the ‘high-hanging fruit enterprises’, the power of knowledge becomes even more visible. Short-term technical assistance (related to entrepreneurship development) can strengthen an enterprise, making it robust and subsequently ‘de-risk’ its profile to potential investors.

In the case for professional volunteer service organizations (i.e. PUM, IESC, ACDI/VOCA, SES etc.) – its transfer of knowledge is as crucial as the committed capital investment to enterprises. Next to that, these organizations have a wealth of data, network and track-record in advising enterprises around the globe.

In the access to finance space for entrepreneurs, professional volunteer service organizations can play a critical role in strengthening the business competences of enterprises.

The lack of available (and/or affordable) local network of skills and experiences, that can contribute to the range of challenges an entrepreneur faces, is the gap where professional volunteer service organizations can offer qualified, experienced volunteer professionals to donate their time in transferring knowledge with entrepreneurs around the world. 

A structured approach

A structured approach on enabling enterprises in frontier markets to grow is essential and contributes into embracing entrepreneurs beyond the ‘usual suspects’. Collaboration through acknowledging and applying each other’s strengths is the way forward in achieving a sustainable return and impact through investment. And not to forget the role of governments and multilateral institutions in continuing - or at least not further reducing - ODA funded enterprise development programs. Of course, few would disagree with this conclusion, though the eco-system unfortunately exhibits far too few cases to proof otherwise.

For more insights on the role and added value of professional volunteer service organizations like PUM can have in strengthening SBG's as to de-risking their profile to impact investors, download the enclosed (full) article. 

 Attached Files:

Tags:  accelerators  Access to Finance  Business  capacity development  Capital Aggregation  early stage ecosystem  emerging markets  entrepreneurship  entrepreneurship ecosystems  impact investing  impact investment  inclusive business  Investors  partnership  Pioneering Capital  Private sector development  social business  social entrepreneurship  social impact 

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CrossBoundary Energy Fund I raises $8M - First dedicated fund for C&I solar in Africa

Posted By CrossBoundary, Monday, December 7, 2015

CrossBoundary Energy today announced the first close of CrossBoundary Energy Fund I, Africa’s first dedicated fund for Commercial & Industrial solar. Over the next 18 months, the fund will deploy over $25M to build solar facilities to power African enterprises through the SolarAfrica platform.

Due to a dramatic fall in cost, solar is now a viable alternative energy source for businesses in Africa. But it needs finance to be attractive.

Across Africa, economic growth is stifled by expensive and unreliable electricity. This challenge represents an immense opportunity for investment. Matt Tilleard, co-Managing Partner of CrossBoundary observed, “Africa is undergoing an energy revolution and has become a laboratory for pioneering new methods of energy delivery. A key driver of this has been the dramatic fall in cost of solar power – down by over 80% since 2008. Solar is now often cheaper than the grid in a majority of African countries”

Jake Cusack, co-Managing Partner at CrossBoundary, noted that “For many of the businesses that drive Africa’s growth, solar power is now an alternative source of cheaper and cleaner energy. However adoption remains low due to two barriers. First, solar has a substantial upfront cost. Without financing, solar installers are typically only able to offer upfront purchase of the solar system.  This means that the customer has to pay the full cost of 25 years of electricity on the first day. Second, many customers are unfamiliar with solar and reluctant to take responsibility for the technical and operational details of the system.”

Mr Tilleard said, “In markets such as the US, both these barriers were removed through the introduction of financed solar solutions. Instead of paying upfront, the financier builds the solar asset and the customer enters into a long term Power Purchase Agreement (PPA). With today’s announcement, we are bringing the same financed solar solutions to Africa. Financing is now available to make cheaper, cleaner energy a reality for African enterprise.”

Empowering project developers through the SolarAfrica platform

CrossBoundary Energy will deploy its investment capital through SolarAfrica, a platform that provides solar installers a fully financed ‘PPA in a box’ to offer customers. SolarAfrica brings together CrossBoundary Energy’s financing with technical oversight and asset management services from NVI Energy. Through SolarAfrica, CrossBoundary Energy allows solar installers to offer Power Purchase Agreements (PPAs) to African firms – enabling them to pay for the solar assets over time, just as they would pay for grid electricity or diesel fuel.

Mr Tilleard said “SolarAfrica already has a strong network of partners and we are actively looking for new installers or developers who are interested in offering a financed solar solution to their potential customers. We are currently in operation in Kenya and are hoping to expand to up to three additional countries in the next three to six months. Our funding is available for solar projects above 100 kWp that serve commercial and industrial customers.”

A ground-breaking transaction

CrossBoundary Energy has raised US$8m in equity to provide solar power for African enterprises. After debt leverage, CrossBoundary Energy Fund I intends to invest a total of over US$25m in solar assets over the next 18 months.

Mr Cusack observed, “The fund is a unique and innovative financing platform that will pioneer an entire new asset class in Africa. It is backed by a prestigious group of investors from the USA and Australia attracted both by the commercial returns and the opportunity for positive environmental and economic impact.” Investors include Blue Haven Initiative, TreeHouse Investments and Ceniarth.

Power Africa has been a crucial supporter of CrossBoundary Energy. Through Power Africa, the Overseas Private Investment Corporation (OPIC) provided an early-stage grant to support establishment costs and the United States Agency for International Development (USAID) provided a $1.3M first-loss contribution to the fund. Mr Tilleard noted that this “was a groundbreaking innovation by USAID that helped attract private investors to this opportunity.”

In addition, the Shell Foundation, an independent charity, has also provided grant funding and business support to accelerate CrossBoundary's expansion into markets outside of Kenya and lay the groundwork for follow-on funds.

The transaction was led by Chadbourne & Parke LLP with local counsel support from the Africa Legal Network and Viva Africa. Ikenna Emehelu, a partner at Chadbourne said: "We helped solar companies create a market for distributed energy in the US.  We have seen that mass-market adoption of renewable energy occurs not when technology becomes available, but when it becomes affordable. By pooling institutional capital to finance upfront installation costs of solar systems, CrossBoundary has made solar affordable for the malls, hotels, schools and small businesses it serves in Africa.  Chadbourne congratulates the CrossBoundary team whose tenacity and vision has unlocked a promising new market in Africa."

CrossBoundary Energy’s first investment pioneers new ground in East Africa

At fund close CrossBoundary Energy also announced that its first major investment is an 858 kWp solar installation at the newly opened Garden City Mall in Nairobi. Mr Tilleard announced “It is the largest rooftop solar system in East Africa and the largest solar carport system in Africa. It is also the largest solar PPA that we are aware of with a private consumer in Sub-Saharan Africa.   This is an exciting first step on CrossBoundary Energy and SolarAfrica’s mission to introduce solar-as-service to African enterprises.”

Conclusion

Providing clean energy for African businesses represents a major commercial and environmental opportunity. The development of innovative energy financing and business models in Africa means the continent could have smarter, cleaner and more decentralized electricity infrastructure than developed countries. Mr Cusack noted that “Through the first dedicated fund for Commercial & Industrial solar, CrossBoundary Energy hopes to help Africa take a clean path to development through a transition to improved infrastructure and increased economic productivity with minimized environmental impact.”

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About CrossBoundary

CrossBoundary is an innovative investment firm that provides transaction and economic advisory services to help unlock capital for positive change in underserved markets. The firm was founded in 2011 and has worked across a range of frontier markets and also developed innovative mechanisms to attract investment in fragile states affected by conflict such as Afghanistan and Mali. Recently, the firm has launched CrossBoundary Energy, the first dedicated investment fund for commercial and industrial solar in Africa. 

 

Tags:  africa  Business Models  Capital Aggregation  East Africa  energy  finance  Financing Mechanisms  impact investing  impact investment  Investors  Kenya  Private sector development  sustainability  sustainable energy 

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Have got an innovative solution to make SME finance work for the missing middle? DGGF/SCBDFacility may help you kick start!

Posted By Julia Brethenoux, Triple Jump, Monday, December 7, 2015

The Dutch Good Growth Fund (DGGF)/Financing Local SME is a “fund of fund” investment initiative from the Dutch Ministry of Foreign Affairs that aims to improve financing for the “missing middle” i.e. entrepreneurs that have outgrown micro financing but do not yet have access to regular financial services.

To this aim, DGGF has a Seed Capital and Business Development (SCBD) facility that can support innovative early-stage finance actions reaching underserved SME markets with up to 1 million Euros. The SCBD facility is especially interested in innovative, sustainable and scalable proposals that address one or more of the interrelated fundamental challenges of SME finance, namely high information asymmetry; lack of collateral; high transaction costs; and limited deal flow/growth potential. Of particular interest to SCBD are nascent finance vehicles that make SME finance work for female entrepreneurs, young entrepreneurs and entrepreneurs in fragile states.

Curious about the first SCBD transaction making debt financing available to African health SMEs? More details are available here 

You have an innovative SME finance solution just starting? DGGF/SCBD Facility might be able to support your efforts! More details about the opportunity, including application and selection process are available in the enclosed one pager.

Twitter: Professionals eager to close the financing gap for the missing middle, follow @SCBDFacility

Download File (PDF)

Tags:  Access to Finance  DGGF  early stage ecosystem  Entrepreneurship  impact investing  impact investment  inclusive innovation  innovation  Private sector development  Women 

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Food for Thought - Made in Africa for Africa

Posted By Irmgard Jansen, BoP Innovation Center, Tuesday, September 22, 2015

On the 27th of October 2SCALE organizes the ‘Food for Thought: Made in Africa, for Africa!’ conference in the New World Campus in The Hague, to get a better understanding of what makes African agri-business tick and what makes partnerships succeed. We invited CEOs of seven African companies to share their experience with us; from the start of their business venture
to their growth and success of today, and the challenges they faced along the way. What does it take for an African farmer or entrepreneur to contribute to food security and better livelihoods? And how can African and Dutch entrepreneurs build strong partnerships to develop the agricultural sector in Africa? We have also invited agri and food experts who will comment on why some businesses succeed while others fail.

African economies are rising, and so are their agri-food industries. Still, access to food remains a challenge for most consumer segments. Greater market participation by small-scale local entrepreneurs will boost food security and agriculture-based trade in Africa. Market expansion will also give farmers the incentive to invest in productivity enhancing technologies. 2SCALE builds
partnerships for agri-business and helps to create new businesses and expand existing ones. From the smallholder farmer producing tomatoes for the local market to the young ambitious entrepreneur or the Dutch company looking for local partners to strengthen their position. Generally, farming is not being perceived of as professional business, whereas programs like 2SCALE reveal that farming can be (and should be seen as) serious business that contributes to food security.

2SCALE covers 9 countries (Benin, Ethiopia, Ghana, Kenya, Mali, Mozambique, Nigeria, South Sudan and Uganda) and a number of product groups that can make a difference – bringing prosperity to small-scale farmers, emerging enterprises and Base of the Pyramid consumers. This implies for example the inclusion of women and the younger generations, and the empowerment of
smallholder farmers. Furthermore, 2SCALE creates networks that provide market opportunities, technologies, training, business support, credit and insurance - all the elements needed for profitable, sustainable business. Halfway through the five-year project the impact is clearly visible:

  • 50 well-established public-private partnerships are active and created new businesses and business activities
  • More than 1,600 companies are buying produce from, selling agricultural inputs to, or providing services to small scale farmers;
  • More than 265,000 smallholder farmers have improved crop yields, income and family nutrition. Over 30% of these farmers are women;
  • 24 pilot programs are now operational, increasing access to low cost nutritious food for BoP consumers; and
  • 20 learning and coaching programs for local-level networking and capacity strengthening are being implemented.  

Contact: To learn more about the conference, please check the 2SCALE website (http://2scale.org/event/2scale-business-event) or contact Irmgard Jansen (jansen@bopinc.org or +31 (0) 30 2305 915).


2SCALE was launched in 2012 and is an initiative of the International Fertilizer Development Center, the International Centre for development oriented Research in Agriculture and BoP Innovation Center. The project is funded by the Dutch Ministry of Foreign Affairs.

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Tags:  Access to Finance  africa  Agriculture  Business  East Africa  Entrepreneurship  entrepreneurship ecosystems  gender  impact investment  Scale  West Africa  Women  Youth 

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Announcing DIV:LIVE - A Social Enterprise Competition on August 26

Posted By Kristen Gendron, U.S. Agency for International Development, Wednesday, June 17, 2015

Spread the world to innovators and entrepreneurs! USAID's DIV program and partners are hosting a live pitch competition on August 26th in Amman, Jordan. 

The competition, DIV:LIVE, seeks innovations in the Middle East that aim to solve the world’s most intractable development challenges through demonstrated impact and cost-effectiveness. Innovators selected for the final stages through the DIV competition will pitch their development solution at the DIV:LIVE event to be considered for a grant ranging from $100K to $1,500,000+ USD. 

Learn more here and help us spread the word with the tools below.


Our target audience

We are hoping to get the word out to start-ups, social entrepreneurs, traditional entrepreneurs, and even NGOs and public sector-focused groups who can apply to the competition (winning seed funding of ~100K and scaling funding up to 15M), as well as other investors or stakeholders who might want to get involved. We are hoping to increase awareness/applications in MENA specifically, but are open to all applicants who would be willing to travel to the finals in Amman.

DIV:LIVE overview text for sharing

DIV and the USAID's Jordan Competitiveness Program are co-hosting a live pitch competition called DIV:LIVE on August 26th in Amman, Jordan. This pitch competition is open to any country, but we are specifically outreaching to potential applicants in the Middle East and North Africa region. Selected innovators will pitch their development solution to be considered for a grant ranging from $100K to $1,500,000+ USD. This event will include a live audience with other potential investors and relevant stakeholders. Any interested organization - nonprofit, for-profit, or university - can apply. Ultimately, we are seeking innovations that aims to solve the world’s most intractable development challenges through demonstrated impact and cost-effectiveness

Tweets 

One-pager

Attached

 

Download File (PDF)

Tags:  Access to Finance  ANDE Members  Entrepreneurship  High-Growth Entrepreneurship  impact investing  impact investment  innovation  Investors  MENA  Philanthropy; impact investing  social business  social enterprise  Social Entrepreneurship 

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Development Innovation Ventures (DIV) follow-up info

Posted By Kristen Gendron, U.S. Agency for International Development, Friday, January 30, 2015

ANDE members,

Thanks to those who joined yesterday's webinar on Development Innovation Ventures (DIV)! It was great to connect and hear your insightful questions.

We are excited about working with ANDE members to help drive great innovators to the financial and non-financial resources DIV can offer. I am sharing with you some tools that will be helpful in those efforts. Below/attached you’ll find:

  • Quick description of DIV  
  • Draft social media content: many DIV applicants have found out about us through social media
  • DIV Factsheet (attached): feel free to share widely

I look forward to connecting further with your organizations in these efforts. Please feel free to reach out to me in the ANDE portal anytime.

Warm regards,

Kristen and the DIV team

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About DIV

Development Innovation Ventures is an open competition supporting breakthrough solutions to development challenges around the world. DIV is looking for applicants in any sector, from any organization, company, or individual in almost any country in the world whose innovative ideas match our principles of cost-effectiveness, evidence of impact, and potential to scale. DIV invests grant financing in winners ranging from under $150,000 to $15 million.

Social Media Tools

Twitter

  • Looking for seed financing or scaling support? @DIVatUSAID winners receive up to $15M. Apply today http://goo.gl/dHJ44d
  • Help spread the word about @DIVatUSAID to innovators in #GlobalDev around the world! Apply now! http://goo.gl/dHJ44d
  • #Innovation competition @USAID looks for bold #globaldev ideas from anyone, anywhere. Apply to @DIVatUSAID now. http://goo.gl/dHJ44d

Facebook

  • Do you have the next big idea to change the world? Apply to USAID’s Development Innovation Ventures. You could receive up to $15M for your innovative solution. http://goo.gl/dHJ44d
  • Need seed funding to test and scale your development solution? USAID’s DIV accepts proposals year-round for innovations that will solve the world’s biggest development challenges. Apply now! http://goo.gl/dHJ44d
  • USAID’s DIV is an open competition supporting breakthrough solutions to development challenges around the world. Ideas can come from anyone, any sector, anywhere. Submit your application today http://goo.gl/dHJ44d 

Fact Sheet

Attached to give innovators an overview of DIV. This also on the DIV website.

 

*PS  - If you missed the ANDE - DIV 101 session yesterday and would like to watch, please connect with your membership manager Susannah Eastham.

 Attached Files:

Tags:  Acceleration  Access to Finance  early stage ecosystem  finance  Global. Development  Grants  Grants Rockefeller  High-Growth Entrepreneurship  impact evaluation  impact investment  innovation  Investors  missing middle  Philanthropy; impact investing  Private sector development  Public sector  social ent  social enterprise  social impact  social metrics 

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If you aren’t part of the mainstream, how do you measure impact?

Posted By Peter Whitehead, Media Development Investment Fund, Wednesday, October 8, 2014

Whether or not you agree with the research and investment blogs that claim impact investing is about to change the world or think the jury’s still got some considering to do before delivering a verdict, all surely agree that measurement will play a critical role in the development – or otherwise – of the sector.

Investors, investees and practitioners – as well as catalytic organizations like ANDE – need to be able to point to outcomes or, better still, societal impact if impact investing is going to live up to even half the claims for its transformative power.

There are plenty of guides and indicators to help mainstream impact investors compare like with like – if your goal is to create jobs or roll out microfinance, there are accepted ways to measure and compare what you’re doing – but what about non-mainstream sectors? And what about impact sectors where the ultimate goals are more intangible, like supporting human rights or democratic development?

For example, Media Development Investment Fund invests in independent media around the world that provide the news, information and debate that people need to create thriving, free societies. We provide capital and technical assistance to help independent news businesses become financially self-sustainable, strong enough to remain independent of powerful governments and oligarchs who want to trade cash for influence.

To evaluate our impact, we focus our assessment efforts on two broad areas: first, our direct impact on investees; and, second, our investees’ impacts on their societies.

Assessing the extent to which our support contributes to our investees’ sustainability is relatively straightforward; we evaluate how each media company’s reach, sales and viability (determined by assessing a range of risk factors) change over the course of their involvement with us, all based on monitoring data we collect on a monthly basis.

But what about our impact on helping people build free societies? For practical – mainly resource – reasons, assessing impact at this level is less systematic. Even so, we think it’s important to do what we can and we conduct deep-dive studies on individual clients to understand the role they play in their societies. This can show whether a newspaper in Guatemala is a trusted source of investigative journalism, for example, or whether a news website in Malaysia provided important information to voters in national elections.

In 2014 we have supplemented this type of assessment by including portfolio-wide societal impact metrics in our annual Impact Dashboard. This year we focus on our clients’ efforts to hold leaders accountable for their actions through reporting on corruption and tracking policy promises. While this falls short of measuring our achievements in helping to create free, thriving societies, it takes us a step further than we have gone before and provides our investors with a better insight into the changes they are helping to create.

We would love to hear how other impact investors have developed impact measurement in non-mainstream sectors, as well as any feedback on our approach and suggestions for improving it.

You can take a look at the interactive Impact Dashboard 2014 or read the pdf here: http://www.mdif.org/impact-dashboard-2014/.

 

Tags:  ANDE Members  impact evaluation  impact investing  impact investment  impact measurement 

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USAID competition now rolling to support innovations any day of the year, any sector, any country.

Posted By Kristen Gendron, U.S. Agency for International Development, Tuesday, October 7, 2014

Development Innovation Ventures (DIV), USAID’s open innovation fund, now accepts applications for innovative development solutions on a rolling basis, any day of the year. We are currently entering our fall application cycle, and looking for your help directing the best innovators to our competition.

Help us spread the word and apply today! Winners receive $150,000 to $15M depending on stage, plus nonfinancial assistance through a swat team of DIV portfolio advisers to support their organization’s growth. Proposals can be in any sector and any country in which USAID can operate.

To learn more, share with your networks, or to apply, see fast facts and tweets below, and visit DIV's website for more information.

About DIV


Development Innovation Ventures (DIV) is an innovation fund within USAID that sources, tests, and supports the growth of proven, cost-effective interventions.  Using a venture-capital approach, DIV directly invests USAID dollars through its global platform in solutions that demonstrate impact and have the potential to achieve sustainable scale.  

 

Applying to DIV: 5 things you need to know


  1. DIV invests across 3 stages of growth with grant funding ranging from under 150K to 15 million. Applicants select a stage based on how much evidence, if any, they have previously gathered of their solution’s success.

  2. DIV looks for solutions based on three pillars: 1) cost-effectiveness relative to alternative solutions; 2) evidence or plans to gather evidence of the solution’s impacts; and 3) the applicant’s plans to sustainably scale the solution beyond DIV if it is proven successful.

  3. DIV is about open innovation. That means the competition accepts applications every day of the year. Solutions can be in any sector and any country in which USAID operates. And proposals can come from any type of organization anywhere in the world.

  4. DIV uses a two-step application process. The first step is a 5 page business plan, or letter of interest, that is intended to be a light lift for both the applicants and the reviewers to assess whether the organizations are a potential fit. If you are invited to the next stage, DIV asks applicants to submit a more in-depth proposal that is evaluated by a panel of experts for final selection.

  5. DIV’s guiding document provides more thorough information on how to apply, what we look for, and what applicants can expect in our process. Use the APS in assessing your fit with DIV and in filling out your application!


Spreading the word on social media:

  • Looking for seed financing or scaling support? @DIVatUSAID winners receive up to $15M. Apply today http://goo.gl/lv6WvV
  • Help spread the word about @DIVatUSAID to innovators in #GlobalDev around the world! Apply now! http://goo.gl/lv6WvV
  • #Innovation competition @USAID looks for bold #globaldev ideas from anyone, anywhere. Apply to @DIVatUSAID now. http://goo.gl/lv6WvV
  • Awesome competition to apply to: @DIVatUSAIDlooking for innovative development solutions. Apply today http://goo.gl/lv6WvV #SocEnt
  • .@DIVatUSAID is looking to fund the next big idea in #GlobalDev. Apply now! http://goo.gl/lv6WvV

Learn more:

Visit us online here.


Tags:  Access to Finance  Asia  Business  Business Models  early stage ecosystem  emerging markets  Entrepreneurship  finance  Grants  impact investing  impact investment  Latin America  Philanthropy; impact investing  Scale  social enterprise  Social Entrepreneurship 

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Pathways to Impact Investing

Posted By Jaime Gusching, Global Social Benefit Institute at Santa Clara University, Tuesday, September 23, 2014
Updated: Tuesday, September 23, 2014
 
There is a growing interest to combine personal investment choices with meaningful social and environmental impact. Coined in 2007, Impact Investing now encompasses a broad array of investment choices.

Pathways to Impact Investing will help you understand the sector landscape, plan your impact strategy, and learn from other impact investors how they make direct and indirect investments. 

This case‐led 3 day course, October 27 to 29, 2014, is hosted by Santa Clara University in collaboration with Toniic, SV2 and The Philanthropy Workshop – and presents a practical guide for investors. John Kohler, ANDE's member of the year, will be spearheading the program. 
 
Pathways to Impact Investing is oriented toward asset owners and advisors who are serious about including impact in their investment choices. 

Participants will come away with a better understanding of investment choices and impact measures, techniques for assembling a portfolio, and a personalized action plan for making impact investments. 

Learn more and register here

 Attached Thumbnails:

Tags:  Finance  Financing Mechanisms  impact investing  impact investment  social entrepreneurship 

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Can crowdfunding help the 'missing middle' ?

Posted By Olivier Lafourcade, Investisseurs & Partenaires, Wednesday, September 10, 2014
Updated: Wednesday, September 10, 2014

In its last article, the Devex Impact reporter Adva Saldinger presents how crowdfunding, this innovation and powerful tool efficiently addresses the challenge of financing the missing middle in Africa.

Kiva, a US-based web platform helps raise large capital amounts at a very low cost to finance social business projects. For example, within 30 hours I&P has successfully raised a $ 15,000 loan to develop and implement a solar-powered engine to help deliver clean tap water in Mauritania.

David Munnich from I&P answers Adva’s questions on the opportunities and limits of this new financing instrument.

Read the article

Tags:  crowdfunding  impact investment  investisseurs&partenaires  missing middle 

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