Posted on October 10, 2009

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Aspen Network Announces Grants to Support Entrepreneurship in Developing Countries

The Aspen Network of Development Entrepreneurs has announced grants totaling $447,000 to fifteen international economic development organizations working to expand small and growing businesses in developing countries.

The grants will support seven projects in countries ranging from India to Nicaragua to Nigeria working to identify and promote high-impact investment opportunities, develop tools to manage business plan competitions, and foster peer-to-peer learning and mentorships. The largest grant, $75,000 over five months, will support a collaboration involving Endeavor, IGNIA, ShoreBank, TechnoServe, VisionSpring, and Hope Global Consulting to conduct in-depth analysis of U.S. investors and donor segments as well as ways to attract more capital to organizations serving small and growing businesses in Asia, Africa, and Latin America.

The grants are the first awarded through the network's Capacity Development Fund, a $1 million initiative funded by the Bill & Melinda Gates, Lemelson, and Shell foundations to enhance the productivity and effectiveness of groups providing investment, training, and other resources to small businesses in developing countries.

"Creating prosperity in developing countries is essential for our collective economic future," said Randall T. Kempner, executive director of the 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."

For a complete list of grantees and their projects, visit the Aspen Network of Development Entrepreneurs Web site.

“Aspen Network of Development Entrepreneurs Announces New Grants.” Aspen Institute Press Release 10/08/09.

Primary Subject: Philanthropy and Voluntarism
Secondary Subject(s): Community Improvement/Development, International Affairs/Development
Location(s): International

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