Even with active funding partners, some development agencies may fall short if lacking internal infrastructure. While funding is certainly an important aspect of achieving sustainable development goals, it may be just as important to ensure that the strategists and support for development projects are up to date and relevant. SNV: Smart Development Works is a nonprofit that works toward providing such resources through an expansive network of professionals in a variety of different sectors. SNV works with policy experts, local governments, private business and institutes of higher learning to provide lasting differences in extremely poor communities.
SNV was founded in the Netherlands in the mid-’60s and has since established itself in Asia, Africa and Latin America. Expertise in sectors relating to agriculture, energy, water, sanitation and health have helped solve problems locally and provide sustainable solutions to poverty. SNV is funded by the Swedish International Development Agency and managed in partnership with BoP Innovation Center and Inclusive Business Sweden.
SNV has several projects on the ground and one in particular worth noting. Innovations Against Poverty is working in the private sector to develop products and services that can aid in fighting global poverty. This particular mission has focused its efforts on younger demographics as well as women in order to empower groups to shift gender and age paradigms. Companies can apply for the Innovations Against Poverty program to get funding that incentivizes innovation, entrepreneurship and consumption of goods and services in their communities.
Innovations Against Poverty was created with the idea that the private sector is a powerful mechanism for creating jobs and increasing incomes while also providing necessary goods and services to a community. Low-income markets in impoverished communities contain business opportunities that can be sustainably exploited with adequate startup funds and resources. Innovations Against Poverty exists to stimulate development where it otherwise would not exist, with financial support ranging from $60,000 to $200,000. Innovations Against Poverty gains a non-reimbursable capital return and provides advisory support for its investors. This support includes training and coaching from international experts. The program also narrows its support to cases that are not seen as “risk free”, thereby investing in businesses that may not receive support in most cases.
Innovations Against Poverty has registered over 1300 companies since its inception and is expected to grow. These innovative solution investments have primarily been made in Cambodia, Ethiopia, Uganda, and Zambia, with a focus in the agriculture and energy sectors. With continued success, Innovations Against Poverty can foster development in more countries all over the world.
– Casey Hess