Partnering with Impact Entrepreneurs
to Fight Global Poverty
July 2010
In this Edition:
2010 LiderES Prize Winners Announced
AVF Invests $50,000 in VegyFrut
Ricardo Teran Named Yale World Fellow
Paul Davidson to Lead Angel Investing Initiative
Agora's New Website
Support Agora
2010 LiderES Prize Winner Announced
Over 100 entrepreneurs and local media gathered last month in Managua, Nicaragua to celebrate the results of the 2010 LiderES Prize. The prize, supported by the Citi Foundation, seeks to inspire a new generation of impact entrepreneurs and investors in Nicaragua. Winners receive a cash prize, extensive media exposure, and Agora strategy consulting.
"LiderES prize winners run exceptional small businesses that are addressing social problems,” said Agora’s Managing Partner Ben Powell. “They represent a new generation of business leaders and we are proud to support and celebrate their critical work."
2010 Winners by Category:
Small Business – Environmental and Social Impact
1) La Gaviota - dairy farm and cheese factory
2) Lacteos Villanueva - dairy product processing
3) PRISA - organic fertilizers
Medium-Sized Business – Environmental and Social Impact
1) Oscarito’s - children's clothing
2) Semillas Acuaticas - sustainable shrimp larva production
3) Ostuma Farms - organic produce
Corporate Social Responsibility
1) El Rey - sustainable farming cooperative
2) Mi Fogon - wood ovens
Please join us in recognizing and celebrating the positive impact these companies have generated in their local communities.
Pictures from the 2010 Award Ceremony
Videos of the Winners
(Spanish)
For detailed information about these companies and the LiderES prize, please visit the LiderES Website.
Agora Venture Fund Invests $50,000 in VegyFrut
Agora Venture Fund announced it has invested $50,000 in growth capital to VegyFrut, a sustainable fruit and vegetable processing company. The funds will be used to build VegyFrut's new processing plant and corporate headquarters, which will provide them the needed capacity to export to the US and Central American markets. Founded by Carlos Fernando Solórzano Gutiérrez in 2006, VegyFrut has strengthened the value chain of vegetables and fruits to ensure sustainability and quality of its products nationwide. Since receiving consulting from two Agora consulting teams, VegyFrut has grown from one employee to 25 employees.
The expansion project is expected to create 15 new direct and long-term jobs. The project will also benefit 150 small producers involved in the supply chain, from all over Nicaragua. It will also benefit eight suppliers of inputs used in the production process, and 52 clients from the food industry. Overall, the project is expected to increase sales by more than 30% during the first year.
Ricardo Teran Named a 2010 Yale World Fellow
Agora Co-founder, Ricardo Teran was selected to Yale’s 2010 class of World Fellows for his work at Agora Partnerships. The Yale World Fellows Program is the University’s signature global leadership development initiative. It's goals are to provide advanced training to emerging leaders from diverse disciplines and countries, link world leaders to each other and to Yale, and expand and deepen international understanding at Yale. At Yale, Ricardo will continue to deepen Agora's learning in the impact investing field while spreading Agora's message of the power of impact entrepreneurs to address social problems.
Paul Davidson Appointed to Lead New Angel Investing Initiative
We are very proud to announce that Paul Davidson, our founding Operations Manager, has been appointed to lead a major new angel investment initiative. Sponsored by the Inter-American Development Bank, the Dynamic Enterprises Program seeks to create a culture of angel investing in Nicaragua by establishing the country’s first angel investor network.
Agora Partnerships was an integral part of the project’s early design and we are delighted that the region’s largest development bank is committed to building the entrepreneurial ecosystem of impact investing in Central America. While we will miss Paul, we look forward to working with him to make this initiative a success.
Agora Helps Launch New Business Incubator
Agora is proud to announce the recent launch of INSPIRE Nicaragua Business Incubator, a project supported by the International Finance Corporation (IFC), member of the World Bank Group, and led locally by the National Engineering University (UNI) in a consortium of universities, private sector, and government institutions. This incubator, a key piece of the entrepreneurial ecosystem, will complement Agora’s work with start-up and early-stage impact entrepreneurs and be a key ally in developing new businesses in Nicaragua.Agora Partnerships was a key local partner and architect in the consortium, sharing its years of experiences and lessons learned to enhance the design and partnership building of the project. We are committed to helping the incubator succeed in launching impact businesses in Nicaragua.
“Agora played a critical leadership role to design and launch the incubator, they bring valuable hands-on experience to the project" said Rick van der Kamp, IFC Operations Officer. "We are pleased to partner with Agora to promote business development in the country."
We have a new website! Please take a look, and feel free to send us your feedback on our new look and feel. The Spanish language site is coming soon.