Jacqueline Novogratz, Rockstar in the philanthropy world and Design Advocate, Bruce Nussbaum by Adrian Chernoff

Posted by guest contributor on October 15, 2008

The New Yorkers take center stage.

Ending starvation didn’t start with prioritizing for peasants. The Acumen Fund works in a new way in starting by making loans to peasants.

Jacqueline began at Rockefeller Foundation in researching philanthropy. She learned that the lens of focus was not on the right source. That is why a she created a new approach is needed. Acumen is a non-profit venture capital for the poor. Invested loans and equity are an experiment to help the lowest income people of the world. And it appears to making an impact.

She was nearby when a market had a tragic fire and 1773 entrepreneurs lost everything overnight. The next day salespeople wanted to rebuild, but with what?

Jon a salesman at the market began to start again by selling babies clothes, and when asked why sell babies clothes when no one can afford them. He responded with “if all you have is hope than that’s what you sell.” “Please don’t let me be a beggar again.” This is an example where Acumen has come in and helped revitalize through loans and not grants.

Food trucks don’t enable people to help themselves. Loans enable the economic engine of democratizing entrepreneurialship

Jacqueline says it about “creating opportunities where people can help themselves.”

TAKE AWAY
A broken strategy of taking for the greater good, to help the larger landowners, was not the way to succeed. To move forward based on the learning’s of non-effective transformation the Acumen venture takes hold at the heart of the by working with the problem which are the solvers to the problem. This new strategy will enable those who need into those who may potentially have. A translation of service into the minds and hands of those who can enable change.

To win means to tackle on real and significant ideas. It takes more than a village. It takes a global community to help solve the problems of the world.

Jacqueline Novogratz, Founder and CEO, Acumen Fund

The Acumen Fund a non-profit global venture fund that uses entrepreneurial approaches to solve the problems of global poverty. Since 2001, the fund has made over $25 million in investments in 18 businesses across Asia and Africa.

BRUCE NUSSBAUM, Design and Innovation advocate

Bruce is a contributing editor for BusinessWeek, Mr. Nussbaum, who joined BusinessWeek in 1977, is also responsible for the coverage of the annual Industrial Designers Excellence Awards.

By guest blogger, Adrian Chernoff http://www.adrianchernoff.com, an innovation expert at Ideation Genesis. http://www.2idg.com

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