User:Solomonalolga

Enactus (formerly SIFE)

Overview

Acumen is a non-profit venture capital organization that raises venture capital funds from charitable organizations and invests in poverty-eradication entrepreneurial ventures across the globe.  Unlike any venture capital, Acumen capital invests in long-term debt and equity investments in early-stage companies providing reliable and affordable access to agricultural inputs, quality education, clean energy, healthcare services, formal housing, and safe drinking water to low-income customers.( 

History

Acumen was found at April 1, 2001, with capital from the Rockefeller Foundation, Cisco Systems Foundation and three other individual philanthropists.(site). The foundation envisions an organization that seeks to promote and venture entrepreneial ideas with substantial social impact on poverty reduction.  Accumen currently operates in five regions around the world namely USA, India, Pakistan, East Africa and West Africa.

Distinct Differences From Other Offerings

By sourcing donations from charitable organization, Acumen invests the donations in ideas that would not only provide a return, but also a tactical way to tackle poverty.

Unlike other venture capital firms, Accumen only invests in ideas that have a social impact especially in the areas of agriculture, health, water, housing and energy.

Supported by organizations such as Bill & Melinda Gates Foundation, Google, and the Skoll Foundation, Acumen’s investments create long lasting social impacts and help to eradicate poverty. 

Leadership p

Some of Enactus' partner and donors include:

• KPMG
• Walmart & Sam's Club
• Unilever
• Dell
• The Coca-Cola Company
• PepsiCo
• Harmony
• Campbell's
• Hershey's
• HSBC
• Johnson and Johnson
• The  Home Depot 

World Cup

Teams from different schools compete internationally in what Enactus has coined the "World Cup." First, each team must compete at the national level. Projects are judged by business leaders and additional sponsors on the impact that each project has. The judging criteria is summarized in "considering the relevant economic, social and environment factors, which Enactus team most effectivey empowered people in need by applying businss and economic concepts and an entrepreneurial approach to improve their quality of life and standard of living." The winning team of the national championship is invited to compete globally in the Enactus World Cup. The World Cup is held annually in a different country across the world. 

Past Winners of the World Cup:

• 2013 - Technical University Munich
• 2012 - Belmont University
• 2011 - University of Regensburg
• 2010 - French University in Egypt (UFE)
• 2009 - French University in Egypt (UFE)
• 2008 - Memorial University of Newfoundland
• 2007 - La Sierra University
• 2006 - Shanghai Institute of Foreign Trade
• 2005 - University of Zimbabwe
• 2004 - Curtin University of Technology
• 2003 - Drury University
• 2002 - La Sierra University
• 2001 - Drury University

Scholarship/Grants

Enactus also allows the collaboration between businesses and students. Businesses are able to fund or sponsor a specific project (not competing in the Enactus World Cup) that the students are asked to solve and work on. 

Impact Achieved For Students and Campus

Accumen programs are organised as one community and do not currently have chapterson campus. The Acumen programs  have brought together 20 Chapters around the world   to organize more than 90 events and raised more than $360,000 funds to empower poor communities throughout the world.

Campus and Community Impacts:

• Projects can potentially help any part of the campus or community
• Support given to those in need
• Benefit in terms of environment improvement, economic improvement, or social improvement

Outreach

There are 37 countries involved with 1,600 universities. Enactus also has 62,000 students who have volunteered and over 7,300,000 hours have been worked on projects.

Steps Required To Bring Resource to Campus

Universities and Colleges can take the opportunity provided by Accumen and apply directly to investments funding. Projects that are eligible for investments have to be in mid-startup stage with a focus on poverty eradication.  Acumen provides brochures, online courses and materials that teach individuals how to use financial tools to create social impact projects.

Contact Information

HEAD OFFICE

NEW YORK

76 Ninth Avenue, Suite 315
New York, NY 10011, USA

T: +1 (212) 566-8821
F: +1 (212) 566-8817

 

NDIA

MUMBAI

203 Dheeraj Plaza 
Hill Road, Bandra West 
Mumbai, 400050
INDIA

T: +91 (22) 6740-1500
F: +91 (22) 6740-1550

 

EAST AFRICA

NAIROBI, KENYA

1st Floor, Cape Office Park
Opposite Yaya Centre
Ring Road, Kilimani
P.O. Box 101883-00101 Jamia
Nairobi, KENYA

T: + 254-20-386-1559/60/61
Airtel: +254 736 073036
Safaricom: +254 716 252802

 

PAKISTAN

KARACHI

11-C, 4th Floor
1st Commercial Lane 
Shahbaz Commercial Area 
Phase VI, DHA Karachi 
PAKISTAN

T: +92 (21) 3584 6430-2
F: +92 (21) 3584 6490