WRI’s New Ventures Project, which supports sustainable enterprise creation in Latin America and Asia, organized four Investor Forum initiatives in 2004 and welcomed over 40 new sustainable companies into its portfolio. With these four initiatives, New Ventures has doubled the number of companies in its portfolio. It has now attracted over US $10 million in investment.
New Ventures believes that the most effective way to help the private sector contribute to sustainable economic growth is by helping it prosper in new markets—specifically (1) markets that meet the needs of the poor, and (2) markets that deliver goods and services that generate economic, social, and environmental benefits.
In 2004, New Ventures also continued to consolidate its in-country programs in China, Brazil, and Mexico. In Brazil, WRI has partnered with the Center for Sustainability at Fundação Getulio Vargas São Paulo (FGVSP), Brazil’s premier graduate business school, with extensive support from ABN AMRO/Banco Real, Brazil’s fourth largest bank; in Mexico, with the Mexican Nature Conservation Fund; and in China, with Leadership for Environment and Development (LEAD). In 2005, New Ventures will expand into two additional emerging economies, Indonesia and India. In partnership with the International Finance Corporation (IFC), it will officially launch the Indonesia program in 2005.
In 2004, each New Ventures country program—in China, Brazil, and Mexico—organized an Investor Forum. In addition, New Ventures Global organized a Biodiversity Investor Forum for the Andean and Amazonian region in partnership with the Andean Finance Corporation (CAF) and the United Nations Conference on Trade and Development (UNCTAD). The judges selected the three winners as the companies with the greatest potential for economic growth, social benefits, and biodiversity conservation:
- Agroalegre (Ecuador) has a long tradition of producing natural ingredients for the cosmetics, food, and pharmaceutical industries.
- Coronilla (Bolivia) produces pastas and snacks derived from organic gluten-free Andean grains.
- Ornamental Amazon Fish (Peru) sustainably harvests ornamental fish for markets in the United States, Europe, and Asia.
New Ventures supports sustainable enterprise creation in Latin America and Asia by accelerating the transfer of investment to outstanding small- and medium-sized enterprises. Based on economic, social, and environmental criteria, selected enterprises receive intensive mentoring to help them improve their business plans. This mentoring prepares the entrepreneurs for a subsequent presentation at a New Ventures Investors Forum where the winners are chosen.
