Building a business is more accessible and affordable than ever, causing many people to step away from the standard 9 to 5, and all its comforts, to go build cool things and work for themselves. In short, entrepreneurship is in fashion. While breaking the rules may be the new black, Jacqueline Novogratz goes one step further. She wants aspiring entrepreneurs to break the rules even more by embracing social entrepreneurship. It means moving away from the traditional wisdom of what drives a business and redefining what entrepreneurial success means. Novogratz does this through Acumen, a global nonprofit venture capital fund that seeks to change the way the world tackles poverty, supporting entrepreneurial solutions to improve the lives of the poor.
Since 2001, Acumen has touched more than 230 million lives by investing $110 million in 104 companies in 13 countries. Novogratz has always believed that business can be a tool for good. And while she believes success should be measured primarily in terms of social impact, she still empowers entrepreneurs to employee email database achieve profitability and financial stability, which benefits both themselves and the world. that surrounds them. A new perspective on poverty Novogratz's investing career began on Wall Street, not exactly known as a haven for altruism, although she worked on international development in Rwanda. She noticed right away that markets too often exploit or exclude the poor in favor of efficiency. Novogratz also realized that established charities doing such work often created dependencies among people experiencing poverty, instead of helping them to flourish on their own.
She told herself that there had to be a better way – a middle way that went beyond the aid given but would not result in the exploitation of communities. Jacqueline Novogratz from Acumen 1 Within the professional Novogratz community, poverty was usually diagnosed by a strict assessment of income levels. But as Novogratz worked closely with Rwandans, she formed a new view on the issue: that poverty should instead be assessed through the prism of human dignity. This means not only asking if people have the money, but also if they have the choice and the opportunity. How to offer all this to those who need it? These were the questions Novogratz sought to answer. During this time, she watched the rise of social entrepreneurship, new forms of philanthropy, and incredible technology that connected people like never before. With her unique mindset and these new resources and models, Novogratz decided to change the game.