Frontier Market Scouts: Fellowship in Impact Investing and Social Enterprise Management

Middlebury Institute of International Studies at Monterey: Center for Social Impact Learning (CSIL)
Deadline for Applications
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The Frontier Market Scouts (FMS) is a social enterprise management and impact investment certificate training and fellowship program. The FMS training provides participants with the professional connections, knowledge and tools required to work effectively in the field of impact investment and social enterprise management. FMS instructors are active practitioners in the impact space and work with leading organizations including Omidyar Network, Accion Venture Lab, Village Capital, Invested Development, and Colorado Capital. Through the combination of lectures and actionable co-creative projects, participants gain a comprehensive understanding of the ecosystem and frame-work for market-based solutions. 

Training curriculum topics include:

  • Scaling High-Impact Social Enterprises
  • Designing Innovative Business Models
  • Diligence Process and Decision in Impact Investment
  • Profiling Ventures for Impact Investing
  • Managing Impact Investing Portfolios

Winter 2016 Trainings are offered in Monterey, California and Washington, DC

Monterey, CA: January 11-22, 2016
Washington, DC: February 15-26, 2016

Apply Online:

Certificate Training cost: $4,000*
*A limited number of merit and need-based scholarships may be available. 

Fellowship and Selection Criteria (completion of certificate training is required):

The goal of the FMS fellowship is to help existing social enterprises or impact-driven investment funds. A fellowship typically looks like a full or part-time position aimed scaling or improving existing processes or addresses pressing business development or sales needs. Since 2011 FMS fellows have worked to grow and improve processes for over 100 social enterprises around the world during field assignments based in such countries as Brazil, India, The Netherlands, Ecuador, Colombia, Vietnam, Tanzania, Kenya, South Africa, and Lebanon.

After completing the intensive, two-week training, FMS participants have the opportunity to become candidates for fellowship positions with social ventures, accelerator programs, or impact funds in positions such as operations management and financial modeling for periods of up to one year. 


*Fellows receive a minimum $250 USD monthly stipend during their field assignment. Additional funding to offset travel, training, and living costs may be available. Please note: stipends can vary depending on placement location.

Watch our Videos:

Paul Breloff from Accion Venture Lab on trends in impact investing and working with FMS:

FMS fellows share what they’ve gained:

Learn about the Center for Social Impact Learning:

For more information, visit Read our blog at Follow us on Twitter @FMScouts and on Facebook at

Successful candidates will have:

  • The ability to clearly communicate practical skills alignment and genuine passion for market-based solutions to poverty alleviation
  • Excellent communications and interpersonal skills
  • Flexibility and openness to learning quickly without direct supervision
  • Past experience living and working in an emerging market or capital weak region
  • Expertise in at least one of the following areas is desirable: financial modeling, branding and communications, logistics and supply chain management.

Completion of the Frontier Market Scouts (FMS) certificate training is required in order to be considered as a FMS fellowship candidate.