ANDE Announces $447K in Capacity Development Funding
Tuesday, October 6, 2009
Fifteen international economic development organizations have received grants in support of their work to expand 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 US $1million 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 were 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 developing 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. For more information about the first fifteen organizations to receive grants, please visit: http://www.aspeninstitute.org/ande.
“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.”