The World Poverty Clock records more than 597 million of the world’s population living in extreme poverty. The UN’s top Sustainable Development Goal, SDG1 is “Ending Extreme Poverty”.
And one social enterprise is shifting the paradigm of poverty reduction, offering the poor a self-help business model.
The Portsmouth, NH based nonprofit organization Social Ventures Foundation is all about doing “Business with a Purpose” which its Executive Director Marc Blumenthal explains means:
“Developing sustainable businesses that can rapidly scale and provide jobs for the poor to deliver essential products and services for the poor. And to provide the best solutions to address the myriad of problems facing 3 to 4 billion people in developing nations today.”
How does SVF build on this business model for success?
It identifies, promotes and facilitates investment in scalable startups that meet the unmet poverty reduction challenges. Then it promotes these vetted startups in its biweekly “Poverty Watch” newsletters and during its annual virtual “EndPoverty Virtual Summits.” This year’s summit is scheduled for November 22.
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