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In Africa, Prosperity From Seeds Falls Short
The seeds are a marvel, producing bountiful, aromatic rice crops resistant to drought, pests and disease. But a decade after their introduction, they have spread to only a tiny fraction of the land here in West Africa where they could help millions of farming families escape poverty. HERMAKONO, Guinea ? The seeds are a marvel, producing bountiful, aromatic rice crops resistant to drought, pests and disease. But a decade after their introduction, they have spread to only a tiny fraction of the la...
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No Room for Entrepreneurs
Economist Joseph Schumpeter (1883-1950) may be best known for his innovative work showing the link between entrepreneurial discovery and economic progress. But as Carl Schramm, president of the Kauffman Foundation of Entrepreneurship has pointed out, Schumpeter’s insights about risk-takers didn’t make him an optimist. In a speech last year to European finance ministers in Vienna, Mr. Schramm explained Schumpeter’s fears: He worried that entrepreneurial cap...
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New Business?NGO Partnerships Help the World’s Poorest
Innovative approaches to reduce poverty through trade are bringing business, NGOs, government and aid agencies together in new ways. We believe that the leading global companies of 2020 will be those that provide goods and services and reach new customers in ways that address the world?s major challenges ? including poverty, climate change, resource depletion, globalization and demographic shifts. This statement does not come from a United Nations (UN) conferen...
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Millions of Indians still Lack Modern Sources of Energy
Seven hundred million Indians still do not have access to modern and commercial sources of energy and 220,000 villages are yet to be electrified, said Mr Surya P Sethi, Principal Advisor (Energy), Planning Commission, while chairing a seminar on Energy conservation and Renewable Energy. India has been growing at a rate of 8% but its energy consumption has grown by only 4%. Although the country has 70% of the world’s population it only contributes 4% of the world’...
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Legatum invests Rs 34 cr in Intellecap
Legatum, a firm that invests in initiatives that support social development, today announced an investment of $8.4 million (Rs 34 crore) in Intellecap, a provider of business advisory services for investors and companies that seek both a financial and sustainable social return on investment. Philip Vassiliou, senior vice president, Legatum, said: Intellecap is an innovative and entrepreneurial company that has created a unique niche, intermediating financial capital into develop...
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Growth Must Trickle Down to Bottom to be Sustainable
Even as the debate on equitable growth rages on, commerce and industry minister Kamal Nath on Monday warned that the bubble of 9 per cent economic growth can burst if the benefits do not trickle down to the bottom of the pyramid and to every person in every part of the country. The 9 per cent economic growth will not be sustained till it touches everybody, even at the bottom of the ladder. I am afraid this could be a bubble waiting to burst if we do not c...
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Siemens Launches Competition for Innovative Indian Entrepreneurs
Siemens Venture Capital (SVC), the corporate venture organization for Siemens AG, announces the launch of a unique business plan competition known as the India Innovation Program to reach across to Indian entrepreneurs. Mumbai: Siemens Venture Capital (SVC), the corporate venture organization for Siemens AG, announces the launch of a unique business plan competition known as the India Innovation Program to reach across to Indian entrepreneurs. ?The program focuses on promoting i...
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Microfinance Rescues People at the Bottom
A top banker called on the commercial banks to downscale to the ’Bottom of the Pyramid’ for sustainable economic development ? sustenance of the poor and stressed the great importance of banking with the poor.The plea was made by Chandula Abeywickrema, Deputy General Manager, Banking and Network Management, HNB during a presentation at the recently held Annual Convention of the Association of Professional Bankers, Sri Lanka. He said Commercial Banks can successfully down scale...
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