USAID and ANDE present the Entrepreneurship Development Initiative in Guatemala
Guatemala City, Guatemala. The Aspen Network of Entrepreneurs for Development (ANDE), with the support of the United States Agency for International Development (USAID) in Guatemala, has announced a [...]
Guatemala City, Guatemala. The Aspen Network of Development Entrepreneurs (ANDE), with support from the United States Agency for International Development (USAID) in Guatemala, announced eight organizations selected to receive funding under the Guatemala Entrepreneurship Development Initiative (GEDI). Vice President Kamala Harris announced GEDI in June 2021.
he selected projects will employ creative and innovative approaches to address the problems faced by Guatemalan entrepreneurs, particularly around access to financing and markets. These innovative solutions will also increase capital and provide business support services for Guatemalan entrepreneurs in the departments of Quetzaltenango, Alta Verapaz, Sololá, San Marcos, Chimaltenango, Quiché, Totonicapán, Jalapa, Jutiapa, Santa Rosa, Retalhuleu, Suchitepéquez and Huehuetenango.
The initial portfolio of projects led by business service organizations will receive investments of more than $10.3 million from USAID, and organizations and companies from a variety of sectors to support Small and Growing Businesses (SGBs).
Representatives from the U.S. Embassy, USAID, ANDE, civil society organizations and the business sector recognized the following organizations leading the projects during an announcement event:
Alterna will provide technical services in business-market intelligence, strategic-financial knowledge and digitalization for 80 SMEs and six groups of organic coffee, cocoa and vegetable producers.
EARTH University will help entrepreneurs in rural communities increase investment capacity and access new markets for coffee, honey and specialty mushroom products.
FUNDES will support entrepreneurs in establishing new points of sale with access to seed capital and new markets. The project will also establish 100 businesses with a social microfranchise model for the sale of prepared foods.
INCAE Business Schoolwill create a peer network of women entrepreneurs through customized business training and mentoring for 80 women-led small and medium-sized enterprises.
Mercy Corps will help 770 coffee farmers gain access to more profitable markets through coffee quality certification and provide improved water and sanitation to the communities of 1,500 coffee farmers.
Multiverse will establish a regional business center to foster a stronger entrepreneurial ecosystem and create links between distant communities and regional centers.
Pomona Impact Foundation will develop a $3 million private equity portfolio for SGB, of which $1.5 million will be invested in renewable energy companies.
Global Indigenous Entrepreneurs Network will offer business services in local Mayan languages designed for indigenous entrepreneurs to overcome barriers to entry into the formal market.
