Throughout each stage of our process, we bring together the right partners across sectors including corporations, nonprofits, governments, and foundations to help new initiatives scale their impact and prepare for long-term success. There are 30+ professionals named "Katie Boland", who use LinkedIn to exchange information, ideas, and opportunities. Based on the strength of this RCT evidence, Village Enterprise was selected as the service provider for this impact bond, with the RCT results serving as the benchmark for success. So we are excited to invest in the first DIB to address the SDG of ending extreme poverty, and are hopeful it can have a transformative effect. 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Visit our, Anzisha Prize Opens Entries for Its $75,000 Youth Entrepreneurship Prize, Click to share on Telegram (Opens in new window), Click to share on Tumblr (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Pinterest (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Pocket (Opens in new window), Nigerias Truthshare, an online mental health therapy startup launches to help millions deal with their mental health, CARMA, a credit data marketplace raises funding from Microtraction for a fully-fledged Lagos office, Uhuru Market, a 1960s textile market in Nairobi goes digital with funding from HEVA Fund, MTN Group exits loss-making Jumia, sells entire stake for $142m. We also hope to generate important lessons on how to effectively commission, adapt and scale promising poverty alleviation programs. She began her career as a child actress in film and television and has since branched out into adult roles in addition to writing directing and producing her own projects. Village Enterprise (formerly known as Village Enterprise Fund) is a 501 (c) (3) nonprofit organization that works to end extreme poverty through entrepreneurship and innovation. Michele Giddens, co-founder and partner at Bridges and a trustee of the Bridges Impact Foundation, said, Weve seen from our SIB investments in the U.K. that this approach drives better outcomes for vulnerable people by giving providers more freedom to innovate and tailor their program to local needs. Village Enterprise has started over 43,000 businesses, trained over 169,000 first time entrepreneurs and positively impacted the lives of over 940,000 people. About IDinsight Over 760 million people still live in extreme poverty, over half of whom live in sub-Saharan Africadespite decades of development work and billions of dollars expended on the continent and globally. Outcome funders USAID and DFID will pay Village Enterprise and its investors based on results achieved rather than the traditional model of payment upon program delivery. An additional RCT conducted by IDinsight is under way to independently validate DIB outcomes. We play a mix of the strategist and implementer role to get game-changing ideas off the ground over 24-36 months. Working in rural Sub Saharan Africa, the Village Enterprise Graduation program provides business and financial training, ongoing mentoring, seed capital grants and business savings networks to individuals who live on less than $1.90/day. About Instiglio Instiglio is a non-profit firm dedicated to thoughtfully expanding the use of Results-Based Financing (RBF) in international development, including the pioneering of impact bonds and outcome funds in emerging markets. The Bridges funds support a range of solutions to pressing societal challenges, including 27 social impact bonds (SIBs), about half of the total commissioned in the U.K. to date. According to GDI director Alice Gugelev, "Efforts are underway to scale the outcomes fund in order to address existing challenges with impact bonds such as high processing costs and complex documentation. Akech Sunday of Konye Kenti Business Group in Uganda manages her poultry business with two other female entrepreneurs. The Bridges funds support a range of solutions to pressing societal challenges, including 27 social impact bonds (SIBs), about half of the total commissioned in the U.K. to date. Innovations for Poverty Action recently completed a randomized controlled trial (RCT) of the program that demonstrated increases in assets and consumption, as well as subjective well-being and nutrition, among program participants. This pay-for-success model guarantees that donor money will be linked to measurable increases in consumption and net assets (as a proxy for income). About Global Development Incubator (GDI) The Global Development Incubator is a non-profit that builds startups and partnerships to address some of the world's toughest global development challenges. Instiglio is a non-profit firm dedicated to thoughtfully expanding the use of Results-Based Financing (RBF) in international development, including the pioneering of impact bonds and outcome funds in emerging markets. For this DIB, nine impact investors, including the Delta Fund, the Laidir Foundation, the Silicon Valley Social Venture Fund, the Bridges Impact Foundation and several individual investors, are providing the working capital for Village Enterprise to equip 13,800 rural Africans who currently live on less than US $1.90 a day with the resources to become successful entrepreneurs. "Mobilizing private capital is critical if we are to achieve the United Nation's #1 Sustainable Development Goal (SDG) of ending extreme poverty by 2030. The Bridges Impact Foundation is the philanthropic arm of Bridges Fund Management ("Bridges"), a specialist sustainable and impact investor. SAN CARLOS, Calif. (PRWEB) Despite decades of development work and billions of dollars expended, over 760 million people still live in extreme poverty, over half of whom live in sub-Saharan Africa. Questions about your PRWeb account or interested in learning more about our news services? This DIB, which pays Village Enterprise for improvements in income levels of extreme poor households, is remarkable because of the ambitious outcomes it incentivizes. ", Improving Cost-Effectiveness and Scalability, Brian and Katie Boland are investing US $1 million in this DIB through their Delta Fund. LinkedIn. Eliminating poverty is a global priority, but funding is limited, said Village Enterprises CEO Dianne Calvi. Let your supporters know where in the world your fund is making a positive impact. Katie Boland. Outcome funders USAID and DFID will pay Village Enterprise and its investors based on results achieved rather than the traditional model of payment upon program delivery. Technical Program Manager, Google. About Instiglio IDinsight works across a range of sectors, including education, financial access, governance, agriculture. If Village Enterprise successfully improves the income levels for these new business owners, outcome payers will repay up to $4.28 million based on an innovative pay-for-success structure. Registration on or use of this site constitutes acceptance of our, Jeff Bezos cashed out over $3 billion in Amazon stock but still made a massive gain off the post-election limbo for the markets , JPMorgan's Dimon preaches patience Ex-Coatue MD to launch new fund Election fallout continues . IDinsight leads learning partnerships across Asia and Africa, working with governments, multilaterals, foundations, social businesses, and innovative NGOs to generate and use evidence to improve their impact. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC. ", Comparing this DIB to others being launched in international development, Avnish Gungadurdoss, Managing Partner of Instiglio, noted, "This DIB, which pays Village Enterprise for improvements in income levels of extreme poor households, is remarkable because of the ambitious outcomes it incentivizes. Village Enterprise seeks to end extreme poverty in rural Africa through entrepreneurship and innovation. IDinsight leads learning partnerships across Asia and Africa, working with governments, multilaterals, foundations, social businesses, and innovative NGOs to generate and use evidence to improve their impact. In the scale-up, the outcomes fund plans to engage additional high caliber service providers like Village Enterprise and increase impact through this innovative and efficient mechanism.. 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