Pioneers of Prosperity
Encyclopedia
Pioneers of Prosperity is an awards programme for entrepreneurs in Africa, the Caribbean and Central America that have created wealth and invested in their society. Its aim is to recognise and support today's successful enterprises and inspire the next generation of entrepreneurs, leading to stronger, more sustainable development in these regions.
Winning companies receive up to $100,000 to invest in their business.
The first awards ceremony took place in 2007 in Kigali
, Rwanda
. The second African award ceremony took place in Kigali, Rwanda on November 19, 2008 and awards will be held in the Caribbean and Central America in early 2009.
1 - Identify competitive small and medium-size companies that are developing promising business models;
2 - Invest in these firms through award prize money;
3 - Diffuse the ideas, attitudes, ands practices that set these firms apart from their peers so they may serve as role models to aspiring entrepreneurs in the region; and
4 - Focus international organizations on the private sector as a means for economic development.
and one grand prize winner were selected. The winners received their awards in Kigali, Rwanda by His Excellency, President Paul Kagame of Rwanda on November 30, 2007.
The grand prize winner was Kenyan firm AAA Growers, which provides fresh-cut vegetables to the U.K. market; additional winners included Kencall, Enterprise Urwibutso, Virtual City Limited, Good African Coffee, and Tele-10.
The 2007 program was captured in a documentary ‘Unlocking Africa’ made by award-winning filmmaker Jeff Zimbalist
.
In 2008 the Legatum Pioneers of Prosperity Awards (Africa) expanded to 10 countries across Africa and received almost 1,500 applications from small and medium-sized enterprise in Botswana
, Cameroon
, Côte d'Ivoire
, Ghana
, Kenya
, Namibia
, Nigeria
, Rwanda, South Africa and Uganda
. On November 19, 2008, the second Legatum Pioneers of Prosperity Africa Grand Prize was awarded to Superflux International, a security printing solutions company in Nigeria; other prizes were awarded to firms from Kenya, Rwanda, South Africa and Uganda. The presentation ceremony was attended by H.E. Paul Kagame, President of the Republic of Rwanda, and the guest of honour, H.E. Mwai Kibaki, President of the Republic of Kenya, who awarded the Grand Prize.
The cash prizes for the Africa awards totaled US$350k and the winners were selected by a jury process from a pool of applicants evaluated according to the COW-F framework.
, Belize
, Guyana
, Haiti
, Jamaica
and Trinidad and Tobago
. Later in 2009, Pioneers of Prosperity will launch across Central America, including the countries of Costa Rica
, the Dominican Republic, El Salvador
, Guatemala
, Honduras
, Nicaragua
and Panama
.
The competition is open to all private sector Small and Medium Enterprises (SMEs) based in the participating countries that have between 5 and 250 employees and annual revenues of $100,000 USD and $5,000,000 USD. The prizes for the Caribbean awards will total to $600,000 USD, including a $100,000 USD grand prize winner and several smaller prizes ranging from $5,000 USD to $50,000 USD. Just under 600 firms applied for the competition, which closed on March 23, 2009. The winners will be selected by a jury process from a pool of applicants evaluated according to the COW-F framework, and the prizes awarded in June 2009.
Customers receive a product they value at a competitive price; Owners receive an above average return for their investment; Workers receive a high and rising standard of living; and all of this is achieved without eroding the social or environment fabric for future generations, and ideally while investing in the broader public good.
According to Fairbanks, COW-F firms understand the correlation between satisfied employees and a successful business. Satisfied employees take pride in their place of work, have higher degrees of loyalty to their employer and have a vested interest in seeing the company succeed. The assumption is that by investing in their employees, through both rising wages and employee training, employers find themselves with happier employees that are more productive. Highly productive employees are a critical component of a successful business.
The ‘Pioneers of Prosperity’ program identifies and rewards outstanding emerging market COW-F entrepreneurs. By publicizing their stories and rewarding their efforts, it is hoped that the benefits of the COW-F model can be disseminated across the developing world . As a condition of the grant, the winners use award proceeds for improvement of the skills and capabilities necessary to further enhance the COW-F model for their workers. The training may focus on both management and technical skills, including: financial management, market research techniques, product design, sales, and customer service.
, the private equity firm Legatum
, the John Templeton Foundation
and the philanthropy Social Equity Venture Fund (SEVEN). It is implemented by the OTF Group , an international economic development consulting firm.
Pioneers of Prosperity – delicious http://delicious.com/PioneersofProsperity
InterAmerican Development Bank http://www.iadb.org
Legatum Global Development http://www.legatum.com
The John Templeton Foundation http://www.templeton.org
Winning companies receive up to $100,000 to invest in their business.
The first awards ceremony took place in 2007 in Kigali
Kigali
Kigali, population 965,398 , is the capital and largest city of Rwanda. It is situated near the geographic centre of the nation, and has been the economic, cultural, and transport hub of Rwanda since it became capital at independence in 1962. The main residence and offices of the President of...
, Rwanda
Rwanda
Rwanda or , officially the Republic of Rwanda , is a country in central and eastern Africa with a population of approximately 11.4 million . Rwanda is located a few degrees south of the Equator, and is bordered by Uganda, Tanzania, Burundi and the Democratic Republic of the Congo...
. The second African award ceremony took place in Kigali, Rwanda on November 19, 2008 and awards will be held in the Caribbean and Central America in early 2009.
Objectives
The stated objective of Pioneers of Prosperity is "to foster greater prosperity in developing countries by influencing the assumptions and behaviors of entrepreneurs, policymakers, academics and business leaders" . The program highlights successful models of enterprise-based development, thereby creating a stronger culture of innovation and entrepreneurship. Specifically, the program aims to do the following:1 - Identify competitive small and medium-size companies that are developing promising business models;
2 - Invest in these firms through award prize money;
3 - Diffuse the ideas, attitudes, ands practices that set these firms apart from their peers so they may serve as role models to aspiring entrepreneurs in the region; and
4 - Focus international organizations on the private sector as a means for economic development.
Africa Awards
In 2007, the inaugural Legatum Pioneers of Prosperity Africa Awards launched in five East African countries. More than 450 firms competed from which five winnersand one grand prize winner were selected. The winners received their awards in Kigali, Rwanda by His Excellency, President Paul Kagame of Rwanda on November 30, 2007.
The grand prize winner was Kenyan firm AAA Growers, which provides fresh-cut vegetables to the U.K. market; additional winners included Kencall, Enterprise Urwibutso, Virtual City Limited, Good African Coffee, and Tele-10.
The 2007 program was captured in a documentary ‘Unlocking Africa’ made by award-winning filmmaker Jeff Zimbalist
Jeff Zimbalist
Jeffrey Leib Nettler Zimbalist is an American filmmaker best known for his films Favela Rising, The Two Escobars, and The Scribe of Urabá....
.
In 2008 the Legatum Pioneers of Prosperity Awards (Africa) expanded to 10 countries across Africa and received almost 1,500 applications from small and medium-sized enterprise in Botswana
Botswana
Botswana, officially the Republic of Botswana , is a landlocked country located in Southern Africa. The citizens are referred to as "Batswana" . Formerly the British protectorate of Bechuanaland, Botswana adopted its new name after becoming independent within the Commonwealth on 30 September 1966...
, Cameroon
Cameroon
Cameroon, officially the Republic of Cameroon , is a country in west Central Africa. It is bordered by Nigeria to the west; Chad to the northeast; the Central African Republic to the east; and Equatorial Guinea, Gabon, and the Republic of the Congo to the south. Cameroon's coastline lies on the...
, Côte d'Ivoire
Côte d'Ivoire
The Republic of Côte d'Ivoire or Ivory Coast is a country in West Africa. It has an area of , and borders the countries Liberia, Guinea, Mali, Burkina Faso and Ghana; its southern boundary is along the Gulf of Guinea. The country's population was 15,366,672 in 1998 and was estimated to be...
, Ghana
Ghana
Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...
, Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
, Namibia
Namibia
Namibia, officially the Republic of Namibia , is a country in southern Africa whose western border is the Atlantic Ocean. It shares land borders with Angola and Zambia to the north, Botswana to the east and South Africa to the south and east. It gained independence from South Africa on 21 March...
, Nigeria
Nigeria
Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
, Rwanda, South Africa and Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
. On November 19, 2008, the second Legatum Pioneers of Prosperity Africa Grand Prize was awarded to Superflux International, a security printing solutions company in Nigeria; other prizes were awarded to firms from Kenya, Rwanda, South Africa and Uganda. The presentation ceremony was attended by H.E. Paul Kagame, President of the Republic of Rwanda, and the guest of honour, H.E. Mwai Kibaki, President of the Republic of Kenya, who awarded the Grand Prize.
The cash prizes for the Africa awards totaled US$350k and the winners were selected by a jury process from a pool of applicants evaluated according to the COW-F framework.
Caribbean and Central America Awards
In February 2009, the Pioneers of Prosperity Awards launched in seven countries in the Caribbean, including Bahamas, BarbadosBarbados
Barbados is an island country in the Lesser Antilles. It is in length and as much as in width, amounting to . It is situated in the western area of the North Atlantic and 100 kilometres east of the Windward Islands and the Caribbean Sea; therein, it is about east of the islands of Saint...
, Belize
Belize
Belize is a constitutional monarchy and the northernmost country in Central America. Belize has a diverse society, comprising many cultures and languages. Even though Kriol and Spanish are spoken among the population, Belize is the only country in Central America where English is the official...
, Guyana
Guyana
Guyana , officially the Co-operative Republic of Guyana, previously the colony of British Guiana, is a sovereign state on the northern coast of South America that is culturally part of the Anglophone Caribbean. Guyana was a former colony of the Dutch and of the British...
, Haiti
Haiti
Haiti , officially the Republic of Haiti , is a Caribbean country. It occupies the western, smaller portion of the island of Hispaniola, in the Greater Antillean archipelago, which it shares with the Dominican Republic. Ayiti was the indigenous Taíno or Amerindian name for the island...
, Jamaica
Jamaica
Jamaica is an island nation of the Greater Antilles, in length, up to in width and 10,990 square kilometres in area. It is situated in the Caribbean Sea, about south of Cuba, and west of Hispaniola, the island harbouring the nation-states Haiti and the Dominican Republic...
and Trinidad and Tobago
Trinidad and Tobago
Trinidad and Tobago officially the Republic of Trinidad and Tobago is an archipelagic state in the southern Caribbean, lying just off the coast of northeastern Venezuela and south of Grenada in the Lesser Antilles...
. Later in 2009, Pioneers of Prosperity will launch across Central America, including the countries of Costa Rica
Costa Rica
Costa Rica , officially the Republic of Costa Rica is a multilingual, multiethnic and multicultural country in Central America, bordered by Nicaragua to the north, Panama to the southeast, the Pacific Ocean to the west and the Caribbean Sea to the east....
, the Dominican Republic, El Salvador
El Salvador
El Salvador or simply Salvador is the smallest and the most densely populated country in Central America. The country's capital city and largest city is San Salvador; Santa Ana and San Miguel are also important cultural and commercial centers in the country and in all of Central America...
, Guatemala
Guatemala
Guatemala is a country in Central America bordered by Mexico to the north and west, the Pacific Ocean to the southwest, Belize to the northeast, the Caribbean to the east, and Honduras and El Salvador to the southeast...
, Honduras
Honduras
Honduras is a republic in Central America. It was previously known as Spanish Honduras to differentiate it from British Honduras, which became the modern-day state of Belize...
, Nicaragua
Nicaragua
Nicaragua is the largest country in the Central American American isthmus, bordered by Honduras to the north and Costa Rica to the south. The country is situated between 11 and 14 degrees north of the Equator in the Northern Hemisphere, which places it entirely within the tropics. The Pacific Ocean...
and Panama
Panama
Panama , officially the Republic of Panama , is the southernmost country of Central America. Situated on the isthmus connecting North and South America, it is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The...
.
The competition is open to all private sector Small and Medium Enterprises (SMEs) based in the participating countries that have between 5 and 250 employees and annual revenues of $100,000 USD and $5,000,000 USD. The prizes for the Caribbean awards will total to $600,000 USD, including a $100,000 USD grand prize winner and several smaller prizes ranging from $5,000 USD to $50,000 USD. Just under 600 firms applied for the competition, which closed on March 23, 2009. The winners will be selected by a jury process from a pool of applicants evaluated according to the COW-F framework, and the prizes awarded in June 2009.
Theoretical Background
The Pioneers of Prosperity program uses the COW-F framework, conceived of by development expert and author Michael Fairbanks, to identify promising business models. The COW-F framework asserts that a good business model provides a unique value proposition to all of its stakeholders: Customers, Owners, Workers, and Future generations.Customers receive a product they value at a competitive price; Owners receive an above average return for their investment; Workers receive a high and rising standard of living; and all of this is achieved without eroding the social or environment fabric for future generations, and ideally while investing in the broader public good.
According to Fairbanks, COW-F firms understand the correlation between satisfied employees and a successful business. Satisfied employees take pride in their place of work, have higher degrees of loyalty to their employer and have a vested interest in seeing the company succeed. The assumption is that by investing in their employees, through both rising wages and employee training, employers find themselves with happier employees that are more productive. Highly productive employees are a critical component of a successful business.
The ‘Pioneers of Prosperity’ program identifies and rewards outstanding emerging market COW-F entrepreneurs. By publicizing their stories and rewarding their efforts, it is hoped that the benefits of the COW-F model can be disseminated across the developing world . As a condition of the grant, the winners use award proceeds for improvement of the skills and capabilities necessary to further enhance the COW-F model for their workers. The training may focus on both management and technical skills, including: financial management, market research techniques, product design, sales, and customer service.
Funders
Pioneers of Prosperity is funded by the multilateral development agency Inter-American Development BankInter-American Development Bank
The Inter-American Development Bank is the largest source of development financing for Latin America and the Caribbean...
, the private equity firm Legatum
Legatum
LEGATUM is a privately owned, international investment organisation, headquartered in Dubai, part of the United Arab Emirates. Legatum's mission is to find ways to generate and allocate the capital and ideas that help people live more prosperous lives....
, the John Templeton Foundation
John Templeton Foundation
"The John Templeton Foundation is a philanthropic organizationthat funds inter-disciplinary research about human purpose and ultimate reality. It is usually referred to simply as the Templeton Foundation...
and the philanthropy Social Equity Venture Fund (SEVEN). It is implemented by the OTF Group , an international economic development consulting firm.
External links
Pioneers of Prosperity homepage http://www.pioneersofprosperity.orgPioneers of Prosperity – delicious http://delicious.com/PioneersofProsperity
InterAmerican Development Bank http://www.iadb.org
Legatum Global Development http://www.legatum.com
The John Templeton Foundation http://www.templeton.org