TechnoServe Partners With Cargill to Support Entrepreneurs in Venezuela

Wednesday, June 30, 2010

CARACAS, Venezuela, June 30 /PRNewswire/ — TechnoServe, in partnership with Cargill, has created an entrepreneur development program in Venezuela to identify promising small businesses and help them overcome obstacles to growth.

The program is part of Idea Tu Empresa, a series of business plan competitions in Bolivia, Chile, Colombia, Ecuador, Peru andVenezuela. TechnoServe, Cargill and local organization Foco Sustentable aim to create sustainable economic opportunities for poor communities in Venezuela by nurturing entrepreneurs and helping them expand their businesses, creating jobs as well as markets for supplies and services. The partners also hope to build businesses that can benefit communities by producing affordable products. Cargill and TechnoServe previously worked together successfully on business plan competitions in Central America.

The Venezuelan program will assess the characteristics and needs of the country and its entrepreneurs, in order to spur the creation of a network of profitable, growing companies in Caracas and the other main cities of Venezuela. TechnoServe and its local partners will work with high-potential entrepreneurs to develop effective business plans, while Cargill will offer opportunities to participate in its supply chain.

“This partnership is a perfect example of TechnoServe’s innovative approach to helping lift people out of poverty through private-sector solutions,” says TechnoServe President and CEO Bruce McNamer. “We’re excited to work with Cargill to create sustainable economic opportunities for the people of Venezuela.”

“This project is part of Cargill’s global commitment to engage in the local communities where we operate, and promote sustainable and responsible economic development that improves living standards and promotes vibrant, stable communities,” said Ramon Sosa, corporate affairs director, Cargill Venezuela. “The initial response to the TechnoServe business plan competition from our employees and partners in Venezuela has been very positive and has generated high expectations.”

TechnoServe will run a three-year program, thanks in part to $590,000 in funding from Cargill. The regionwide Idea Tu Empresais supported by a $4.4-million grant from the Inter-American Development Bank’s Multilateral Investment Fund.

Source: PR Newswire (link opens in a new window)