|
[January 28, 2008; Santiago, Chile]
 A total of Euro 45,000 were awarded by NESsT and ABN AMRO Bank to five nonprofit organizations presenting winning business plans to the NESsT-ABN AMRO Social Enterprise Competition, a collaborative effort between both institutions that forms an integral part of the NESsT Venture Fund (NVF) in Chile. The NVF supports the creation of social enterprises in order to increase self-sustainability in civil society organizations (CSOs).
 The award ceremony included representatives from the finalist organizations; the ABN AMRO Country Executive for Chile, Víctor Toledo; bank executives; and the NESsT co-CEOs and founders, Nicole Etchart and Lee Davis. Thirty one (31) organizations participated in the competition, where the NESsT team joined together with bank executives who volunteered their time to assess social enterprises and provide consulting to the organizations as they moved through the different stages of the social enterprise development process. 8 organizations successfully reached the final stage and presented their Business Plan. Five organizations were awarded first and second place, and three received special commendation.
Three organizations were awarded first place:
- Fundación Trabajo en la Calle, whose social enterprise involves a social real estate management company;
- Fundación COANIL, with a proposal for expanding their production workshop which employs people with intellectual disabilities in the production and sale of chocolate pastries; and
- Corporación de Ayuda al Paciente Mental CORPAM, with a plan for expanding the sale of products made by their workshop employing people with mental health problems to the pharmaceutical and cosmetics industries.
Winners of the NESsT-ABN AMRO Social Enterprise Competition with certificates presented by the NESsT and ABN AMRO team
Each organization will receive Euro 10,000 to implement its business plan and join the later-stage portfolio of the NESsT Venture Fund.
Nicole Etchart, CEO and Co-Founder of NESsT expresses that “this award ceremony is the result of almost a year of ongoing work with the organizations in Chile. As a consequence, their members were better able to identify and assess a social enterprise idea that proved feasible. We believe that the development of social enterprise enables organizations to assume a greater level of responsibility, sustainability and control over their resources, to broaden the impact of our missions, and foster an alternative market in search for social change.”
The following two organizations were awarded second place, each receiving Euro 7,500:
- Casa de Acogida la Esperanza, who hopes to consolidate their carpentry workshop that employs youth who are in the organization’s drug addiction rehabilitation program;
- Unión de Padres y Amigos Solidarios, UPASOL, who will expand their Recycling Center for domestic waste in the municipalities of Vicuña, Chile’s Region Four.
Special commendations were given to AcciónGay, Gente Expresa, and Fundación Estudio para un Hermano (EDUCERE) for the potential of their business plans to contribute to the self-sustainability of the organizations and in recognition of a job well done throughout their participation in the Early Stage of the NESsT Venture Fund.
ABN AMRO employee volunteers pose with NESsT team
In the words of Miguel Coddou, Legal Head of ABN AMRO Chile, who volunteered in the assessment of the business plans, “our aim was to share our experience with the other organization. In addition to having added value, we have also come away with something very important: in getting to know the NGOs, ... we have been able to see our activity from a different standpoint and move closer to what the bank wants in terms of sustainability, establishing a closer relationship with local communities and discovering realities and needs other than those traditionally associated with the private sector.”
Finally Patricio Santander, Director of UPASOL, in addition to extending his thanks for the award, reflected on what it means to him to have a social enterprise Business Plan in his hands: “We know that we still have a long road ahead of us, but we are headed in the right direction. As a result of our business plan, we have been able to raise a large part of the funding needed for our truck and we know what decisions we have to make. We will be forever tremendously grateful, because in 10 more years, when we have grown, we will know that the roots for this project started here,” he concluded.
|
Top of page