ANDE Announces First Capacity Development Fund Grantees
Aspen Network of Development Entrepreneurs Announces New Grants
Injection of capital enhances efforts to expand entrepreneurship in the developing world
Glen Cove, NY—October 8, 2009—Fifteen international economic development organizations have received grants in support of their work expanding small and growing businesses in developing countries. The grants—totaling US $447,000—were announced at the 2009 annual conference of the Aspen Network of Development Entrepreneurs in Glen Cove, New York. The grants were the first awarded as part of the network’s Capacity Development Fund, a $1million (USD) effort to increase the productivity and effectiveness of organizations that provide investment, training and other resources to small and growing businesses in developing countries. Funding for the grants was provided by the Bill & Melinda Gates Foundation, The Lemelson Foundation and Shell Foundation.
Organizations selected to receive grants are: Agora Partnerships, the Appropriate Infrastructure Development Group (AIDG), Alitheia Capital, E+Co., Endeavor, Fundacion Bavaria, IGNIA Partners, LLC., Root Capital, Root Change, ShoreBank, TechnoServe, Inc., Universidad de Los Andes, VisionSpring, World Resources Institute, and Villgro.
Grants will support projects in countries ranging from Nicaragua to India to Nigeria. One project, for instance, will bring six organizations together to conduct an in-depth analysis of U.S. investors and donors, providing insights needed to attract capital to the small and growing business sector. Another project creates a platform for identifying high-impact investment opportunities in Africa, Asia and Latin America. Other grants will be used to develop tools to manage business plan competitions and to accelerate small and growing business in developing countries through peer-to-peer learning and mentorships.
“Creating prosperity in developing countries is essential for our collective economic future. Without enhanced entrepreneurship and thriving small and growing businesses, prosperity will only remain a lofty aspiration,” said Randall T. Kempner, executive director, Aspen Network of Development Entrepreneurs. “These grants are vital because they will strengthen an emerging industry that is singularly focused on building businesses in the developing world.” Learn More About the Grantees.