Tag Archives: entrepreneurship

Helping Diaspora Investors Make a Difference in their Home Countries

A money transfer service where people can receive remittances in Hong Kong. (Photo: Wikimedia Commons)

A shop in Hong Kong where people can receive money sent from abroad. Remittances accounted for more than 80 percent of foreign investment into mainland China from 1979 to 1995. (Photo: Wikimedia Commons)

“There is nothing more powerful than individuals motivated to invest in meaningful programs in their home countries,” said Eric-Vincent Guichard, the Founder and CEO of Homestrings, an online platform facilitating global diaspora investments.  The son of a Guinean father and an American mother, Eric spent most of his formative years in Guinea attending primary and secondary school before moving to the United States. From his personal experience, he knows the challenges that diaspora communities face when trying to invest in their country of origin.

Remittances comprise a significant portion of the foreign directed investment (FDI) in many countries. According to the World Bank, global remittances consistently dwarf foreign assistance by a factor of three, with $414 billion projected this year alone.  Even in countries that attract a lot of investment from global markets, the role of diaspora investment is substantial: between 1991 and 2001, the Indian diaspora was responsible for $2.8 billion of the $10 billion in foreign investment the flowed into the country. In China, diaspora investment accounted for the vast majority — 80 percent — of total FDI between 1979 and 1995.

Remittances have come to play this vital role as source of FDI despite various rules and regulations that make it difficult for individuals to invest in private companies back home. Traditionally, diaspora remittances have flowed mostly to family members, religious institutions, and non-governmental organizations.

These channels are invaluable when it comes to supporting charitable causes and small family businesses, but do not give investors much control over how the money is used or provide the opportunity to re-invest or make a profit. This significantly limits the potential of diaspora investment to develop larger, more productive businesses that can create jobs and economic growth back home.

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Meet the 2015 Global Photo Competition Winners


Joseph Balikuddembe, Uganda

Joseph Balikuddembe is a web application developer from Uganda. “[My] background and passion for fine arts manifested in my desire and love for photography, a passion am trying to grow as an amateur photographer. I take pictures mainly with my phone as I go about my day,” Balikuddembe said.

“When I met Jackie, the lady in the picture, it was at a mentorship expo organized with select youth entrepreneurs who were doing activities that they could share stories with those at the expo to learn how they made it and to impart skills that would empower youths to better their lives through skills development and for democratic empowerment, for which she was one of the mentors.

This was one of the pictures I took of her at her stall. I loved the way she was tutoring people to design clothes and clothes artifacts from scrap materials and from scrap clothes. Her display was one of the most popular. I took the picture with a hope that one day I will be able to tell her story, or the little I know of it.”

Meagan Moses, Texas, USA

Meagan Moses, Texas, USA

Meagan Moses is a third year student at the University of Texas, pursuing a degree in studio art with a certificate in innovation, entrepreneurship, and creativity.  “My family includes several entrepreneurs and I have always been encouraged to work hard, set high goals, and to not let anything get in the way of obtaining those goals,” she said.

“My photo is of Lungile, a South Africa woman living in the township Imizamo Yethu. When visiting the Cape Town Township, I was in awe of the conditions in which these people lived.  Forced to do all that they can to earn a living, many people in this community are left with no option other than being entrepreneurial. Lungile worked out of an abandoned shack home stringing beads to create beauty wear for women within the township, and hopes of selling them as souvenirs to their visitors.”


Daniel Eguren, Venezuela

Daniel Eguren is a fine art photographer and filmmaker in Barquisimeto, Venezuela whose work has been recognized at a number of regional and international festivals. He also works on entrepreneurship and youth empowerment projects.

“My photo represents my personal journey from elementary school to the person I am today, a dreamer with a lot of ideas in mind, an entrepreneur, and a leader. Education is crucial to help and empower kids to find the right direction and to develop the skills of what they want to become when they grow up.

As far as I’m concerned teachers don’t really focus on developing kids skills so kids waste their ‘entrepreneurial spirit.’ If that’s the case, I think teachers have to focus more on that. I’m a believer that entrepreneurship and creating a company is not about personal benefit but it is for the community benefits, to service people needs and to contribute to the progress of the world. “

Thanks to the more than 100 photographers who entered the competition and to the hundreds who voted online for the winners! Each winner will receive a $250 USD honorarium for their photo.

Investing in Bangladesh: A Gender-Smart Approach to Private Sector Development

This post is Part 5 in a series. Read Part 1 herepart 2 here, part 3 here, and part 4 here. Jump to Ahmad’s comments.

Over the last 28 years, Selima Ahmad, the founder of the Bangladesh Women’s Chamber of Commerce and Industry (BWCCI), has worked exclusively on women’s economic and social empowerment – both in her country and worldwide.

As the first woman’s chamber of commerce in Bangladesh, BWCCI has become a strong voice to support women’s economic participation, calling fora gender-smart approach to private sector development. That approach focuses on small and medium-sized enterprises (SMEs) as engines for job creation and growth, and in particular seeks to tackle a range of issues facing women-owned SMEs in particular. For instance, less than five percent of loans for SMEs go to women-owned businesses around the world and the global credit gap for women-owned SMEs is estimated at roughly $320 billion.

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Women in Business Mean Business: An Engaged Civil Society Organization in Nepal

This post is Part 4 in a series. Read Part 1 herepart 2 here, and part 3 here. Jump to Bhandary’s comments.

Rita Bhandary is a woman in business who means business. She is the current President of the Federation of Women Entrepreneurs Association in Nepal (FWEAN) and a successful entrepreneur in her own right. Rita began humbly, learning as she went to seize opportunities to launch her business and a career, and, eventually, to share her success with other women across the country. Her story starts not with the Federation of Women Entrepreneurs in Nepal, but in the home, like many women in South Asia.

As she noted at CIPE’s panel at a March 2015 National Endowment for Democracy conference in Delhi, entrepreneurial success for the women of Nepal is just like the recipe for success worldwide: take opportunities when they present themselves. Bhandary’s experience also shows the importance of sufficient human, physical and financial capital for women to succeed in business.

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Women Mentoring Women in Nicaragua

“REN-CIPE is [about] teamwork, working together with a person who is blazing a trail for me to follow,” said Noeilin Escobar, mentee and owner of Velas Amazonia, “so that my journey is clearer and easier.”

Dismal statistics state that 90 percent of start-ups will fail. But mentorship can help turn such potential points for failure into opportunities for success. By identifying the toughest moments faced by aspiring and starting entrepreneurs – particularly those who are women – support can be better targeted so that such barriers can be overcome.

In a partnership with Red de Empresarias de Nicaragua (REN), CIPE accounted for the particularly difficult stages in the journey to becoming a successful women entrepreneur: transitioning from the classroom to practical experience in the workforce, moving from the informal to formal economy, getting through the first few years of operating your business, and then continuing to develop and grow your enterprise.

Through connecting a mentor with a successful business to a mentee who is just beginning her venture and a female university student studying business, CIPE and REN created a value chain of knowledge sharing.

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Vote for the Winners of the 2015 Global Photo Competition


In a world saturated with media, the power of a single, compelling image can cut through the clutter. CIPE’s 2015 Global Photo Competition seeks to highlight creative and inspiring visual answers to this crucial question:

How can individuals be empowered to improve their lives and contribute to the democratic development of their communities and countries through entrepreneurship?

We received over 100 entries from dozens of countries, and our judging committee selected 10 as semi-finalists. Now, we want YOU to vote on the winners!

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Defining Syria’s Future

Creating a Brighter Future for Syrian Youth from CIPE on Vimeo.

This International Youth Day, Syrian youth face a bleak situation. During more than four years of conflict in their country, more than 12,000 children have been killed. Approximately 2 million are living as refugees, and 7.5 million are in need of humanitarian aid.

Syria now has one of the lowest education rates in the world. A 2015 Save the Children report estimates that 2.8 million Syrian children are not attending school and a quarter of school buildings have been damaged or destroyed. Many youth must forego education and work to help their families survive. Yet what often gets lost in this picture is the resilience shown by many young Syrians and their determination to play a role in building a better Syria.

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