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New Paradigm Ventures, in collaboration with the Social Innovation Academy Global, set up the Purpose Pool in Uganda in 2020 to prototype, measure, and iterate a new model. So far, they have invested US $45,000 into three high-impact social enterprises. Their vision is to codify the model and build a Community of Purpose Pool implementers around the globe to close the financing gap for social enterprises.
The Purpose Pool is an innovative funding mechanism that harnesses the power of the community to mobilize investment capital for the most impactful entrepreneurs in underserved markets.
Aime Rebecca, Founder of Patapia, is a 24-year-old refugee from DRC living in Uganda. Building from her experience of struggling to generate income to support her family, she founded Patapia - a bank for the unbankable. Patapia provides micro-loans for refugee women in Uganda to start businesses and become financially independent. A pilot has proven the social enterprise’s high potential to create impact while generating profit. To continuously scale the impact of Patapia, Aime needs around US $200,000, but few if any funding options are available to her.
Aime represents a growing number of entrepreneurs who founded promising social enterprises with high impact and growth potential. Unfortunately, they lack access to the right networks to secure funding to scale as they are at the periphery of capital markets: these are the people, places and topics that the markets neglect. This is both a systemic failure and a moral outrage, and the Purpose Pool seeks to develop an alternative to address both. Our ambition is to prove that a human-centred, inclusive and regenerative investment model for impact entrepreneurs in underserved markets is viable: impactful, profitable and scalable.
Critical lessons and challenges ahead will be shared in a conversation between Aime Rebecca, Founder and Director of Patapia, Maike Striffler, Partner at SINA Global and Nikolaus Hutter - Founder of New Paradigm Ventures.
Join us for this unique and vitally important conversation!
Speakers:
Date: October 4th, 2022
Time: 10 am - 11 am CET
Please register via zoom here.