I have yet to finish listening to this talk, but I already love what she is saying so figured I would post it on here! In this video, Jacqueline Novogratz shares stories of how "patient capital" can bring sustainable jobs, goods, services -- and dignity -- to the world's poorest.
Why should you listen to her?
She is one of the most innovative players shaping philanthropy today. She is redefining the way problems of poverty can be solved around the world. Drawing on her past experience in banking, micro finance and traditional philanthropy, she has become a leading proponent for financing entrepreneurs and enterprises that can bring affordable water, housing and health care for poor people so that they no longer have to depend on the disappointing results and lack of accountability seen in traditional charity and old fashioned aid.
The Acumen Fund, which she founded in 2001, has an ambitious plan: to create a blueprint for alleviating poverty using market-oriented approaches. Indeed, Acumen has more in common with a venture capital fund than a typical nonprofit. Rather than handing out grants, Acumen invests in fledgling companies and organizations that bring critical -- often life-altering -- products and services to the world's poor. Like VCs, Acumen offers not just money, but also infrastructure and management expertise. From drip-irrigation systems in India to malaria-preventing bed nets in Tanzania to a low-cost mortgage program in Pakistan, Acumen's portfolio offers important case studies for entrepreneurial efforts aimed at the vastly underserved market of those making less than $4/day.
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