Upaya Social Ventures and 3rd Creek Foundation (3CF) are proud to announce a collaboration through which both organizations will work together to identify, support the development of, and potentially co-invest in Small and Growing Businesses (SGBs) that can create employment for India’s poor.
“We are thrilled to be partnering with 3rd Creek Foundation and strengthening the ecosystem for SGB innovation together,” said Upaya’s Executive Director Sachi Shenoy.
This is a new type of partnership model for Upaya, one that facilitates not just the exchange of ideas and best practices but also opens the door for co-investment in current and future Upaya partners.
“3CF and Upaya share a development philosophy that meaningful employment is key to achieving sustainable poverty alleviation,” said 3CF Executive Director Gwen Straley. “3CF hopes that this collaboration will encourage other foundations and impact investors to take a closer look at the potential that SGBs in emerging markets have to create long-lasting, positive change for those living in poverty,” said Straley.
“While Upaya is often the first investor in a company, we know we can’t do it alone,” said Shenoy, “and by having a channel for co-investment to take place, we can better ensure that early-stage ventures are set up for growth and success.”
3CFis a private family foundation dedicated to helping individuals achieve economic independence. Established in 2007 by Dave and Pam Straley, 3CF supports sustainable development initiatives through charitable grant-making to strong nonprofit partners in impoverished communities worldwide. The foundation seeks to put funds where they will go the farthest and improve the most lives and values projects that take a market-based approach to solving tough social problems. For more information, please visit http://3rdcreek.com/foundation.php and http://www.3rdcreekfoundationblog.org.