Acumen (organization)

Acumen
Non-profit organization
Founded April 2001
Founder Jacqueline Novogratz
Website www.acumen.org

Acumen (formerly known as Acumen Fund[1]) is a non-profit global venture fund that uses entrepreneurial approaches to solve the problems of poverty.[2] Its aim is to help build financially sustainable organizations that deliver affordable goods and services that improve the lives of the poor. Acumen is a 501(c)(3) organization headquartered in New York, with regional offices in India, Pakistan, Kenya and Ghana.[3]

History

Acumen was incorporated on April 1, 2001, with seed capital from the Rockefeller Foundation, Cisco Systems Foundation and three individual philanthropists. Acumen’s investors and advisors include also the Bill & Melinda Gates Foundation, Google.org and the Skoll Foundation.[4] Jacqueline Novogratz is the founder and CEO of Acumen.[5] Ali Jahangir Siddiqui is Director of Acumen Fund Pakistan.[6]

Investments

Acumen uses patient capital to build businesses. It makes investments – loans or equity, not grants – that yield both financial and social returns. As of July 10, 2014, Acumen had approved $88 million in investments in the following countries: Ghana, India, Kenya, Nigeria, Pakistan, Rwanda, Tanzania, Uganda and Ethiopia.[7] It has invested in 82 enterprises since inception, helping over 100 million people and creating 60,000 jobs.[8] Investments are separated into six portfolios: Water, Health, Housing, Energy, Agriculture, and Education. Acumen commitments range from $300,000 to $2,000,000 in equity or debt with a payback or exit in roughly seven to ten years.[9][10]

Fellows Programs

The Acumen Global Fellows Program selects young professionals each year to work with Acumen portfolio organizations in the countries where it invests. The Fellows spend one year, starting in September, working with the Acumen team and local social enterprises.[11]

Starting in 2011, Acumen launched Regional Fellows Programs in East Africa, Pakistan and India. This is a one-year fellowship program targeted at local leaders and entrepreneurs who manage an existing social change project in their region.[12]

+Acumen (chapters of Acumen)

Volunteer-run +Acumen chapters supportive of Acumen's mission have formed in over 20 cities around the world. These volunteer groups raise money for the organization and hold events related to poverty reduction and global development.[13]

In 2013, +Acumen launched free online leadership courses under the +Acumen Online Leadership Academy.[14] The courses are offered on a rolling basis and are free and open to the public. Past courses have included "Acumen Leadership Essentials", "Human-Centered Design for Social Innovation" (with course partner IDEO) and "Adaptive Leadership: Mobilizing for Change" (with course partner Cambridge Leadership Associates). In 2015, +Acumen will launch "Acumen On Demand" which will include short courses on MLK, repeatable models, lean data, and market analysis at the bottom of the pyramid.[15]

See also

References

  1. ↑ A Manifesto. Acumen. Retrieved on 2013-09-21.
  2. ↑ "A Most Meaningful Gift Idea". New York Times. December 23, 2009.
  3. ↑ Fund Expands into West Africa. Acumen. Retrieved on 2013-09-21.
  4. ↑ Partners in venture philanthropy | Acumen. Acumenfund.org. Retrieved on 2013-09-21.
  5. ↑ Jacqueline Novogratz: Invest in Africa's own solutions | Video on. Ted.com. Retrieved on 2013-09-21.
  6. ↑ http://alijahangirsiddiqui.blogspot.com/2016/03/ali-jahangir-siddiqui-principal-of-js-group.html
  7. ↑ Acumen Investments Have Impacted Over 100 Million Lives. Acumenfund.org. Retrieved on 2013-09-21.
  8. ↑ Archived January 4, 2013, at the Wayback Machine.
  9. ↑ Investments
  10. ↑ "Making a difference with patient capital in energy, healthcare". Mint (newspaper), Wall Street Journal. Nov 3, 2009.
  11. ↑ Acumen Global Fellows are the Next Generation of Impact Leaders. Acumen.org. Retrieved on 2013-09-21.
  12. ↑ Acumen Regional Fellows Tackle the Most Pressing Social Issues. Acumen.org. Retrieved on 2013-09-21.
  13. ↑ acumen - +acumen chapters are volunteer-led groups learning and sharing Acumen Fund’s principles and approach to help create a world beyond poverty – a more inclusive and sustainable future for all. Plusacumen.org (2011-02-23). Retrieved on 2013-09-21.
  14. ↑ Courses » +acumen. Plusacumen.org (2011-02-23). Retrieved on 2013-09-21.
  15. ↑ http://plusacumen.org/#courses

External links

This article is issued from Wikipedia - version of the Sunday, March 13, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.