- The drive is directed at social businesses that address relevant problems for vulnerable groups in the country.
- 07 social businesses will be selected to participate in the Due Diligence process and be presented before an Investment Committee that will determine their entry into the Entrepreneurial Fund Portfolio.
With the purpose of promoting social entrepreneurship, the Wiese Foundation created the Entrepreneurial Fund, which seeks to support and finance companies incorporated in Peru, whose mission is to generate sustainable and environmentally responsible social impact among vulnerable groups throughout the country.
As of November 15, the Wiese Foundation began the drive to select the social businesses that will be part of the First Portfolio of the Entrepreneurial Fund. This program will be operated by NESsT, an organization with extensive experience in impact investment at a global and local level.
The Wiese Foundation seeks to rally businesses nationwide that are at the stage of validation or preparation for their scaling, and that have been created with the mission of addressing a relevant social problem linked to different sectors, such as: agricultural & stockbreeding and agro-industrial, education, health, sustainable fashion, renewable energies, manufacturing, housing and sanitation, tourism, fishing and sustainable aquaculture, environment, services, among others.
Businesses that fit this profile must also be focused on improving the quality of life of vulnerable populations by (1) generating decent employment, (2) improving their income, and/or (3) providing them with access to products or services that improve their quality of life.
The drive ends on February 22, 2019. Applications received up to that date will be evaluated by an Evaluation Committee. Based on the criteria indicated in the bases, seven (07) social businesses will be selected to participate in the Due Diligence process. Upon completion of this stage, the seven (07) finalist businesses will be presented before the Investment Committee of the Entrepreneurial Fund. The latter will select the four (04) social businesses that will be part of the Portfolio.
The social businesses that are part of the Portfolio of the Entrepreneurial Fund may access financing and advice for a maximum period of 2 years. At this stage, the Entrepreneurial Fund aims to professionalize them, through a custom-designed financing system and personalized business advice. Each business in the portfolio may receive between S/.60,000 and S/.150,000 soles of financing to cover business needs, as determined by the Investment Committee.
Businesses interested in participating can access the bases of the drive and the application form by clicking here.
About the Wiese Foundation
The Wiese Foundation has been working since 1960, mobilizing individuals and institutions to transform Peru into a country where equity, solidarity and identity are the values that inspire all its citizens. The Solidarity Fund is a new platform created by the Wiese Foundation with the purpose of expanding its social impact, through the management and promotion of its own programs, operated by allies. This platform has active programs in the following categories: social entrepreneurship (Entrepreneurial Fund), education and emergency and disaster management.
About NESsT
NESsT is the ally selected by the Wiese Foundation in order to operate the Entrepreneurial Fund, to take care of managing the drive, the Due diligence and the advice/accompaniment during the portfolio stage. NESsT is an international organization that supports and invests in social businesses that generate employment and improve income for people in vulnerable situations. NESsT has supported 14,000 organizations in 55 countries in order to evaluate, identify and develop sustainable business models.
