Resource Type
Research

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"The Impact Investing Landscape in Latin America is a joint report by the Aspen Network of Development Entrepreneurs (ANDE) and the The Association for Private Capital in Latin America (LAVCA). The 2018 edition of the report provides an updated, comprehensive look on the state of impact investing across Latin America. Using survey data from over 60 investors in the region, the report outlines trends in investment activity in 2016 and 2017, examines challenges for investors, and evaluates the future of impact investing in Latin America - where investors plan to deploy an additional US$2b in capital over the next two years."

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"As the world continues to grapple with the lasting and uneven effects of the coronavirus crisis, this issue brief explores the impact investing community's ongoing commitment to building a resilient future. Specifically, this brief demonstrates how impact investors seek to implement strategies to strengthen both market and societal resilience to future crises. Based on interviews with 16 asset owners, asset managers, service providers, and social enterprises, this brief investigates the role of social equity in enabling that resilience and shares specific tactics impact investors have implemented or are considering implementing to address inequality."

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"As the novel coronavirus, COVID-19, has spread globally, it has left in its wake acute health concerns compounded by economic devastation. The full effects of the pandemic and corresponding economic slowdown are still unfolding - yet already, impact investors' portfolios are experiencing constraints, and the need for further impact investment is rising sharply. To catalyze strategic flows of impact investment capital and position impact investors to support their current investees, the Response, Recovery, and Resilience Investment Coalition (R3 Coalition) launched in May 2020. This initiative represents a collaboration across impact investing networks. One critical component of this initiative is the delivery of market intelligence on financing needs and effective strategies to address those needs. This first brief intends to describe the current state of play for impact investors."

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"In light of the recent changes to the Broad-Based Black Economic Empowerment codes, this research study seeks to understand how corporations in South Africa are approaching enterprise development. The research aims to shed light on enterprise development practices across South Africa’s corporate arena and to highlight areas of strength and innovation, as well as core challenge areas. The ultimate goal of this research is to drive more effective and impactful enterprise development practices. It aims to promote practices not only geared towards small business development and job creation, but also sustainable, values-based practices that enable transformative, socio-economically inclusive and environmentally friendly outcomes."

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"A prioritized strategy for action that assists investors, stakeholders, and policy actors in directing their resources towards generating the greatest impact for entrepreneurs in South Africa."

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"We document the presence of multiple and varied constraints to small and medium firm growth. This presents both a practical problem for business training programs and a challenge to academic economists trying to identify mechanisms through which these programs may affect outcomes. External validity needs theory. This pushes researchers to narrowly defined and highly selected sample frames, which limits the potential for clear, generalizable policy prescriptions. Ultimately, larger samples, multi-arm evaluations, process documentation, and narrowly-focused, theory-supported empirical work are all needed, but the complexity of the problem limits what we learn from any single study."

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"This paper documents that ventures that are funded by two successful angel groups experience superior outcomes to rejected ventures: they have improved survival, exits, employment, patenting, web traffic, and financing. We use strong discontinuities in angel funding behavior over small changes in their collective interest levels to implement a regression discontinuity approach. We confirm the positive effects for venture operations, with qualitative support for a higher likelihood of successful exits. On the other hand, there is no difference in access to additional financing around the discontinuity. This might suggest that financing is not a central input of angel groups."

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"As governments from El Salvador to Kenya to India enact strict measures to halt the spread of the coronavirus, what can development organizations do to help micro and small businesses survive? Drawing from TechnoServe’s past experience working with entrepreneurs in times of crisis, as well as early learnings from the response to the coronavirus pandemic, we’ve put together this quick guide of ideas for supporting these enterprises."

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"Research on impact investing is often conducted from the perspective of the investor, failing to account for the perspective of the impact entrepreneur on the ground. In particular, little primary research has concentrated on those who applied for impact investment funding but were turned down.This report details the ways in which local impact entrepreneurs have experienced the impact investing process, including the expectations of and communications with investors."

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"Accelerator programs are an increasingly important part of entrepreneurial ecosystems. While accelerators have core defining features—fixed-term, cohort-based educational and mentorship programs for startups— there is also significant variation amongst them. In this paper, we relate key variation in the antecedents, organizational design and operation of these programs to theories of firm-level entrepreneurial performance. We then document descriptive correlations between these design elements and the performance of the startups that attend these programs. In doing so, we probe the connections between design and performance in ways that integrate previously disparate research on accelerators and expand our understanding of startup intermediaries. Our findings delineate the building blocks as well as an agenda for future researchers to build upon not only our understanding of accelerators, but also our understanding of what new ventures need to survive and flourish."

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