Sean Park Portrait
Quote of The Day Title
I believe that the biggest advantage a startup has over a big competitor is intellectual honesty.
- Mike Speiser, Managing Director at Sutter Hill Ventures

On leaders.

For me, the best definition of a leader is someone I would be happy to follow. I guess that makes Jacqueline Novogratz a leader in my book.

I first discovered her and her firm Acumen Fund in the summer of 2005 at TED Global in Oxford where she started her talk with her Blue Sweater anecdote (which aptly is the title of her new autobiography: The Blue Sweater: Bridging the Gap Between Rich and Poor in an Interconnected World)

I then had the good fortune to see her speak again at TED Global in 2007, this time in Arusha, Tanzania.

And although there are many differences between Nauiokas Park and the Acumen Fund, I think it is fair to say that in shaping our vision for our firm, and even in planting the initial ideas as to the relevance of bringing a fresh approach to the business of investing in ideas and people, Acumen and Jacqueline have been an inspiration to Amy and I. And so it was great to see her get an excellent and well-deserved write up in the Economist recently. One passage in particular resonated with me as I sincerely hope one day as much can be said of Nauiokas Park in terms of having an impact that goes far beyond our capital resources and reflects a success in building an ideal and a community around the change we are trying to catalyze:

Her firm runs highly coveted fellowship and mentoring schemes, and its alumni are spreading its ideas throughout the development field. The firm’s influence in poor countries is also bigger than it first appears. By leveraging Acumen’s funds to obtain other financing, recipients are able to magnify their impact. Even more important, perhaps, is the firm’s catalytic role in sparking entrepreneurship in developing countries. Acumen devotes much time and money to training local managers, rotating experts from the developed world through its recipient firms and disseminating successful ideas.

In case anyone on Wall Street or Westminster is interested, this is what a leader looks like. We need more people like her in our Board and State rooms.

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Permalink||Comments|Filed under 'Africa, People, Sixth Paradigm'
Smarter finance. The coming “intergrid”.
  • Thanks so much for highlighting The Blue Sweater and Jacqueline's work, and for your thoughtful comments. For readers interested in learning more, you can sign up for Jacqueline's quarterly update letter here: http://ga4.org/acumenfund/join.tcl, or (if you are on Facebook), you can become a fan of The Blue Sweater: http://www.facebook.com/pages/The-Blue-Sweater/... -- the page includes information about events, appearances, etc. as well as ways to engage.

    -Mariko
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