NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

The OTF group has launched a new initiative: The Pioneers of Prosperity Grant and Award Program. A partnership between the OTF Group and the John F. Templeton Foundation of the United States, the competition promotes companies in East Africa and identifies and cultivates local role models that act as examples of prosperous and sustainable businesses in their country/region. Businesses from East African countries including Kenya, Uganda, Tanzania, Burundi and Rwanda can participate.

This “Prosperity Award” will be granted to the five pioneers of the program. Each will receive a grant of $50,000 USD to re-invest; semi-finalists and finalists will receive media coverage by one of the competition sponsors: Pulse Experientia Ltd.OTF seeks to encourage for-profit companies that provide high wages to their workers and that operate in sustainable ways for the living environment of future generations in Africa.

The competition is open to all businesses that employ more than 10 full time staff, earn $100,000 – $10 million in revenues per annum, are profit motivated, have been profitable for the last four quarters in a row, receive outside funding, but do not rely solely on donor funding.

The OTF Group is a consulting firm that promotes building prosperity in developing countries; they are located in Massachusetts and have projects worldwide. The John F. Templeton Foundation is a ?philanthropic catalyst for discovery in areas engaging life’s biggest questions.?

It will be interesting to keep an eye on this competition; the winners will receive recognition, international networking opportunities and grant financing. I am excited to see which kind of businesses OTF selects as winners because they will be setting an example in their local regions of business models that work.

To apply or nominate a company, participants are required to visit: www.pioneersofprosperity.org The deadline for nominations has passed (July 20th), but the applications deadline is this Monday, July 30th.