Los Angeles, California (PRESS RELEASE – June 21, 2011) – InVenture is proud to announce two new initiatives that will change the way successful micro-entrepreneurs access growth capital in developing countries, and allow anyone online to partner with a small business half-a-world away.
Unveiled by Founder and CEO Shivani Siroya in a speech at the opening of the Unreasonable Institute, InVenture has transitioned from a traditional nonprofit organization to a hybrid model as a way of creating new efficiencies and scale its reach globally. And with capacity to move rapidly into new communities, InVenture is also re-launching its popular peer-to-peer website with additional features for users and frequent updates on micro-entrepreneurs’ progress.
“By privatizing portions of our operations, we have been able to cut down overhead and better leverage the resources at our disposal for the benefit of our micro-entrepreneurs,” said Siroya. “We believe this allows us to be more responsive to our clients, secure operational sustainability, and have more of a positive impact in the communities where we work.”
Through the new inventure.org website, online users (InVestors) can observe 100% of their contributions (InVestments) reaching and supporting micro-entrepreneurs. In re-visioning the site, InVenture has found ways for users to build stronger connections and see how their money is being used.
“For online InVestors, the new profile functions will make it possible to track the progress of their InVestments, create Rallies around favorite micro-entrepreneurs and causes, and experience life on the InVenture team from the writing of business development advisors in Mexico, Mali and India.” said Siroya.
The announcement comes at the end of a quiet period for the organization, having recently secured investment capital to back the new model. Cost savings generated by separating the online platform administration and portfolio management functions ensure that a higher percentage of funds are available to directly support business development advisory services for micro-entrepreneurs.
“From the beginning, InVenture has maintained a focus on sustainable change through micro-business growth, job creation, and community re-investment,” said InVenure board advisor Jessica Jackley. “Tracing the experience from the village all the way back to the online supporter, the team has created a rich and rewarding exchange between micro-entrepreneurs and InVestors,” Jackley said.
InVenture unleashes the potential of developing entrepreneurs to lift themselves and their communities out of poverty by connecting individuals directly with these entrepreneurs, thus enabling the opportunity to create long-term substantial impact.
We envision a world where business owners, regardless of their location or background, will have access to the financial, social and intellectual capital necessary to expand their businesses and drive local growth.