Jacqueline Novogratz: Tackling poverty with "patient capital

Jacqueline Novogratz shares stories of how "patient capital" can bring sustainable jobs, goods, services -- and dignity -- to the world's poorest. One of the most innovative players shaping philanthropy today, Jacqueline Novogratz is redefining the way problems of poverty can be solved around the world. Drawing on her past experience in banking, microfinance and traditional philanthropy, Novogratz has become a leading proponent for financing entrepreneurs and enterprises that can bring affordable clean water, housing and healthcare to poor people so that they no longer have to depend on the disappointing results and lack of accountability seen in traditional charity and old-fashioned aid. The Acumen Fund, which she founded in 2001, has an ambitious plan: to create a blueprint for alleviating poverty using market-oriented approaches. Indeed, Acumen has more in common with a venture capital fund than a typical nonprofit. Rather than handing out grants, Acumen invests in fledgling companies and organizations that bring critical -- often life-altering -- products and services to the world’s poor. Like VCs, Acumen offers not just money, but also infrastructure and management expertise. From drip-irrigation systems in India to malaria-preventing bed nets in Tanzania to a low-cost mortgage program in Pakistan, Acumen’s portfolio offers important case studies for entrepreneurial efforts aimed at the vastly underserved market of those making less than $4/day. It’s a fascinating model that’s shaken up philanthropy and investment communities alike. Acumen Fund manages more than $20 million in investments aimed at serving the poor. And most of their projects deliver stunning, inspiring results. Their success can be traced back to Novogratz herself, who possesses that rarest combination of business savvy and cultural sensitivity. In addition to seeking out sound business models, she places great importance on identifying solutions from within communities rather than imposing them from the outside. “People don’t want handouts," Novogratz said at TEDGlobal 2005. "They want to make their own decisions, to solve their own problems.” "Acumen Fund is a not-for-profit group (but not a charity) that is supported by investors (not donors) who want a good “social return” on their capital." Fortune ___________________________________________________________________________________ please leave a comment if you want, this is just to show what is out there... And before you go and spam, dl it watch it and make up your own mind... cheers the_phyrexian Are you a British citizen? Click here! (Petition to stop Sharia Law) http://petitions.number10.gov.uk/shariastop there is a reseed section, read it / use it... http://suprbay.org/forumdisplay.php?f=35 or visit my blog... http://thephyrexian.tk

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