Editorial for moneyspentwell.org: Strengthening the silk industry and its workers

This article was originally published 7 April 2014 on moneyspentwell.org.

The sleepy town of Bhagalpur, India, is famous for two things – fertile lands and fine silks. The second largest city in Bihar, Bhagalpur has earned the title of ‘Silk City’ for the high quality of Tussar Silk – a high-luster, strong, lightweight copper silk that wears very well in tropical heat, most valuable when woven by hand. Weaving in Bhagalpur is an art that has been passed on for generations. Working on large wooden pit-style looms found across the city that have been with families for decades, parents share the secrets of crafting fine Tussar Silk scarves and sarees. In fact, there are an estimated 30,000 handloom weavers and about 25,000 handlooms in Bhagalpur.

A silk weaver at his loom in Bhagalpur, Bihar, India. Courtesy: Upaya SV.

However, Tussar Silk weaving is also a dying trade in Bhagalpur as the majority of those 25,000 looms sit idle, unable to provide a livelihood for their owners. It is estimated that that market for sarees in the country stands at $2 billion and poised to grow, but the move to less delicate power looms and an influx of cheap imported chinese silks have flooded the domestic saree market.

Even in the face of this competition, a niche market that values handcrafted products remains. However, exploitative supply chains and a lack of market linkages to wholesale buyers have made it impossible for weavers to earn a viable and dependable living from their work. As such, the average weaver earns less than 25% of the final sale price of a saree that takes weeks to create. Furthermore, without continual skill-building and access to new materials, there is no way for the weavers to build skills needed to meet changing consumer trends and preferences.

Bhagalpur itself has seen very little industrial development, resulting in widespread migration to other parts of the country. As a result many weavers have left the trade altogether, migrating to urban centers to find construction work or taking up farming far from Bhagalpur. In fact, in 2004 the Government of India named Bhagalpur in the list of country’s 250 most backward (note: poor) districts (of a total of 640).

Those who continue weaving do so part time, cobbling together manual labor jobs and other unskilled activities to earn a living. One recent survey has indicated that most weaving households live on less than Rs. 3000 ($50) each month.

Compounding this situation is the fact that payments received from middlemen – local traders intent on buying products as cheaply as possible, regardless of their quality – are opaque and erratic.  Many weavers complain that, not only do they not receive payment that they deserve, and are forced to make multiple visits to these middlemen to get their due. Facing the prospect of being seen as “troublesome” and losing their current source of livelihood, many do not pursue the matter and allow the cycle of exploitation to continue.

Eco Kargha weaver prepares bobbins of silk thread in Bhagalpur, Bihar, India. Courtesy: Upaya SV

In November 2012, Upaya Social Ventures initiated a partnership with Bhagalpur based start-up Eco Kargha Marketing Private Limited headed by Dr. Ravi Chandra, a passionate Bihar native with a strong desire to see his state thrive. Hailing from the capital city of Patna, Ravi has worked tirelessly to create institutions in Bihar that can effect large scale economic growth and development in the state.

Eco Kargha was set up to improve the quality of life for rural weavers by providing the linkages and resources for the modernization of the ailing traditional handloom industry. The company trains marginalized Tussar Silk weavers on new skills, techniques, equipment and designs for producing high quality products for the modern retail marketplace. Eco Kargha also manages relationships with large national retailers such as Fab India and ANS Exports, bringing in bulk orders and ensuring that weavers can earn a full-time living from their work at the loom.

“Customers across India know the quality of Tussar Silks and are ready to pay handsomely for them. Weavers in Bhagalpur are extremely talented and ready to produce the garments. All we are doing is bringing those producers and consumers together in a beneficial way,” said Dr. Chandra.

The company is able to break the stranglehold that middlemen and traders have on the industry by directly working with the artisans. By forming formal weaver groups with a master weaver at helm, these groups in collective are ensured of a steady stream of work and greater bargaining power. Through normalizing payments and improving transparency, Eco Kargha is tilting the economics of weaving back in the favor of the weavers. It has also worked to provide additional services – opening bank accounts, obtaining medical insurance cards – to these weavers through partnerships with existing Central and State Government programs.

In one year of operations it has been successful in earning revenues of over Rs. 80 lakhs ($130,000) by selling fabric, sarees and scarves to large export houses and established retail chains throughout India. To increase its footprint Eco Kargha has spent considerable time and effort on a conscious blend of B2B and B2C sales. The company has also launched Eco Stree, its in house brand of saree and scarves. Through their work they have been able to provide steady and predictable source of employment for over 100 weavers and increase their income levels by almost 50%.

One of the biggest pain points for Eco Kargha and other businesses that work directly with weavers is the high requirement for working capital.  A big component of the raw materials costs is the cost of yarn and dyes. This upfront advance payment constitutes almost 50% of the value of the order processed, but puts a strain on the company’s cash reserves. Due to the early stage of the company, financial institutions and lenders are reluctant to extend a line of credit.

Eco Kargha also faces the challenge of breaking into a saree market that has been dominated by a handful big players for decades. India’s saree market is estimated to generate $2 billion per year in sales and is projected to grow at 8.5% per annum. Within that market, Bhagalpur-made Tussar Silks remain a specialty product despite their nationwide renown. To tap this behemoth industry with deep-rooted interests is a challenge. To overcome the obstacles, Eco Kargha is assembling a professional and dynamic sales team with the right blend of industry experience and fresh talent.

Eco Kargha is projecting a growth rate of over 100% over the next two years, however, it will require equity investment up to $200,000 and an additional $160,000 in working capital debt to meet its goals.  The investment will allow Eco Kargha not only to ramp up its production capacity, but also to build infrastructure like dying units and establish a retail brand presence that will further enhance its competitive edge. Best of all, if Eco Kargha’s growth continues as projected, the company will be able to provide dignified employment to over 500 weavers and provide their families with a real path out of extreme poverty.

Upaya Presents at Harvard Social Enterprise Conference 2014

On March 30th Upaya board member Caroline Vance presented the organization’s work at the Harvard Social Enterprise Conference 2014 on a panel titled “Sustainable Businesses to Empower the Poor.”

Joining Caroline on the panel were leaders from across the social enterprise space including Jaipur Rugs Inc. President Asha Chaudhary, One Acre Fund USA Managing Director Matthew Forti, and Tugende Co-Founder and CEO Michael Wilkerson. The session was moderated by the Clinton Global Initiative’s Head of Market-Based Approaches Bulbul Gupta.

“The panel went great, and the standing room only audience was really engaged,” said Upaya Board Member Caroline Vance. “People were really into Upaya's model, and it was such a joy for me to tell the story,” said Vance.

Attended by Harvard students and faculty, the conference bills itself as “one of the world’s leading forums to explore the intersection of business and social impact.” Entirely student-run, the conference was jointly hosted by students from the Harvard Business School and the Harvard Kennedy School of Government. The theme for the 15th Anniversary of the Social Enterprise Conference was “Reflecting on the Past, Shaping the Future.”

Upaya board member Caroline Vance (left) presents on March 30th at the Harvard Social Enterprise Conference 2014

Tamul Plates Named Winner of NSDC 2014 “Power to Empower” Challenge

Upaya congratulates Tamul Plates CEO Arindam Dasgupta for winning the National Skill Development Corporation (NSDC) and India@75 “Power to Empower 2013 Challenge” (P2E 2013). 

“Winning this award is a great recognition of all the hard work Arindam and his team have put into growing Tamul Plates and the Tambul Plates brand,” said Upaya’s Director, Business Development Sreejith Nedumpully. “Not only is Tamul Plates building new skills in rural communities across the North East, but the company is ensuring that those who do gain new skills have a direct opportunity to earn a steady livelihood from them,” said Nedumpully.

Tamul Plates was selected for Upaya's LiftUP Project initiative in December 2013, a choice that has resulted in equity funding and ongoing business development advisory support for the Barpeta, Assam-based company.

With this win Tamul Plates receives a cash gift from the Muthoot Pappachan Foundation. Additionally, Tamul Plates will gain access to the capacity building Empretec program (an initiative of the United Nations Conference on Trade and Development), along with admission to the iDiya program at Indian School of Business (ISB) Hyderabad and to the upcoming Diffusion workshop at ISB. Each of these forums will provide increased visibility for the company, its palm leaf plates and bowls, and its innovative technology for producing the highest quality disposable dinnerware products.

Tamul Plates CEO Arindam Dasgupta (left) receives the first place prize at the Power to Empower 2013 Challenge

Catch Upaya Onstage at Sankalp Unconvention Summit 2014!

Upaya's Sreejith Nedumpully will join a panel of industry leaders to discuss the experience of supporting promising entrepreneurs in their earliest days.

Bridging the Pioneer Gap: Are We Meeting the Needs of Social Startups & What Can We Do Better?

11:45 AM - 1:15 PM, April 11 2014

Grand Ballroom A3

Hotel Renaissance, Powai, Mumbai

Over the past few years we have heard the conversation about the needs of businesses in the “Pioneer Gap“ reach a fever pitch – particularly in a frothy impact investment market that finds itself starving for more established, less risky opportunities. At the same time, a chorus of ambitious social entrepreneurs with promising models talks about finding themselves in a desert of funding and advisory support. The reality is that, if we rely on traditional venture capital models, most social investment funds will be financially unable to find, fund, and advise these companies in their infancy.

With the majority of these entrepreneurs exhausting their limited runways long before their transformative potential can be realized, there is a strong need to mobilize our peers and create an ecosystem for Pioneering Capital to fill the gap. The assembled panel will explore what’s working, what’s not, and what steps the sector can take to mobilize more resources for the next generation of effective social enterprises.

Moderator:

Ashish Karamchandani, Partner, Monitor Group

Speakers:

Sreejith Nedumpully, Director, Business Development Upaya Social Ventures

Harish Hande, MD, SELCO

Aditi Shrivastava, Head, Intellecap Impact Investment Network

Simon Desjardins, Programme Manager, Shell Foundation

Paul Breloff, Managing Director, Accion Venture Lab

Elrhino and Upaya Social Ventures Come Together to Create Jobs, Protect Wildlife in Assam

Upaya Social Ventures is proud to announce that it has begun work with Guwahati, Assam-based Elrhino, a promising venture with an unlikely product - handcrafted luxury paper, stationery products, and packaging materials made from recycled rhinoceros and elephant dung and other natural waste. The company will receive seed capital and ongoing business development support from Upaya through the latter’s LiftUP Project framework.

Elrhino manages the entire dung paper production chain including collection, preparation, processing, and sale of finished dung paper goods. The company is led by Nisha Bora, a young Assam native who is building on the work begun by her father over three years ago to create new livelihoods and increase the value of rhinoceros and elephants to local villagers. In the two years since its creation, Elrhino has made its mark in the Indian market as well as in France, and has created significant brand equity.

“We started Elrhino because we wanted to see Assam and its rhinos thrive,” said Elrhino CEO Nisha Bora. “We are creating opportunities for people to earn a truly sustainable living, one that provides economic stability for families and encourages people to preserve the natural habitats of these great animals,” said Bora.

Elrhino sees opportunities to create jobs for and build the skills of people - in the rural areas around Guwahati and the reserve forests of Assam. With its current infrastructure, Elrhino has the capacity to produce 15 tonnes of paper per year, which at capacity will equate to approximately 100 full-time jobs in paper processing and an additional 500 part-time jobs through a combination of resource collection and value-add production.

“We are committed to creating rural livelihoods and a skilled workforce in Assam,” said Sreejith Nedumpully, Upaya’s Director, Business Development. “At Elrhino, people learn two skill sets: how to make paper, and how to convert paper into products. We are very excited by the job creation potential in both areas,” Nedumpully said.

While Elrhino is Upaya’s sixth overall investment and second partnership in Assam, Nisha Bora is the first female entrepreneur in Upaya’s LiftUP Project network.

“Trust is a critical element of building successful companies in ultra poor communities, and across our portfolio we have seen a unique trust dynamic emerge between female managers and the women who work for the company,” said Nedumpully. “While she is the first woman leader we’ve partnered with, she will certainly not be the last,” he said.

Upaya's Sreejith Nedumpully Joined By Several LiftUP Project Partners at 3rd Annual Action for India Forum

This January Upaya's Director, Business Development Sreejith Nedumpully travelled to Delhi to participate in the 3rd Annual Action for India forum. The two-day, invitation-only national conference brought together 100 leading social innovators with an equal number of donors, technology leaders, impact investors, and senior government officials.

At the event Sreejith was joined by many of Upaya's LiftUP Project partners including Dr. Ravi Chandra of Eco Kargha, Swapnil Chaturvedi of Samagra, and Ajaya Mohapatra of Justrojgar.

"The forum was a wonderful opportunity for Upaya to meet the best of India's emerging and established social entrepreneurs, and to introduce our current LiftUP Project partners to the country's leading supporters of social innovation," said Nedumpully.

This year's forum was headlined by leaders from across the spectrum of Indian innovation and industry including Mr. Sam Pitroda, Mr. Desh Deshpande, and Mr. R Chandrasekaran.

December Newsletter: 1,139 Jobs and Counting!

Today, I am proud to share Upaya’s latest milestone - as of this week, our five LiftUP Project partners are collectively employing over 1,100 people!

Combining the continued growth of our early partners with the addition of Samagra and Tamul Plates to our LiftUP Project, Upaya has seen the number of people employed by its partners more than double since the spring.

Click here to read Upaya's quarterly newsletter and learn more!

Tamul Plates Teams With Upaya to Expand Arecanut Tableware Production Across Northeast India

Assam-based natural dinnerware producer Tamul Plates Marketing Pvt. Ltd. is pleased to announce that it has received a seed investment from Upaya Social Ventures through Upaya’s LiftUP Project. Based in the Barpeta District of Assam, Tamul Plates produces and markets high-quality, all-natural disposable plates and bowls made from arecanut (palm) tree leaves under the “Tambul Leaf Plates” brand.

Disposable arecanut dinnerware is hygienic, chemical-free, compostable, microwave safe, and in high demand among urban consumers around the world.

The production and sale of natural arecanut dinnerware not only reduces the deforestation and pollution associated with the production of traditional disposable dishes, but also provides a viable livelihood to disadvantaged communities.

“Unemployment is the root cause of so many problems plaguing the Northeast today, and Tamul Plates was launched to create new opportunities for rural youth to earn a dependable income,” said Tamul Plates CEO Arindam Dasgupta. “We feel that this partnership with Upaya affords us the resources needed to expand our operations and be a positive economic force in these communities,” said Dasgupta.

Tamul Plates produces dinnerware through a network of affiliates across tribal regions of Northeast India. The company ensures that each affiliate has the skills and machinery needed to produce superior-quality dinnerware. These affiliates are located in communities otherwise struggling with stubbornly high rates of unemployment, especially as heavy annual monsoons and floods diminish the ability of farmers to earn a dependable income from conventional agriculture alone.

Two men work a pair of presses in a community-run Tamul Plates production unit.

A woman cleans recently collected arecanut leaves to prepare them for pressing.

“There are more than 100,000 hectares of arecanut plantation in Northeast India - one of the poorest and most backward areas of the country - but there is virtually no one connecting these small farmers to the equipment and support needed to produce high-quality disposable arecanut leaf dinnerware,” said Upaya’s Director, Business Development Sreejith Nedumpully. “Upaya is very excited to be working with Arindam and his team as we believe they can provide those services and be a major employer in poor tribal communities across the Northeast,” said Nedumpully.

The International Foundation Announces Grant Support to Upaya

Upaya Social Ventures has been selected by the trustees of The International Foundation to receive grant funding to support the organization’s LiftUP Project work.

Supporting world-wide development since its founding in 1948, the International Foundation continually looks for opportunities to learn from experience and to gain an understanding of what produces satisfactory results in the promotion of sustainable development.

Upaya Bolsters India Team With Addition of Tanya Jairaj as Director, Strategy & Operations

Upaya Social Ventures is thrilled to welcome Tanya Jairaj as the organization’s Director, Strategy & Operations. Based in Bangalore, Tanya will complement Upaya’s current leadership in India by overseeing the organization’s domestic operations, expanding its social performance capability, leading local outreach and brand-building, and contributing to the success of Upaya’s LiftUP Project partnerships.

“I am excited to be joining an organization with such a unique approach to meeting the basic needs of the very poorest,” said Jairaj. “I’ve spent the majority of my career promoting real change for those facing the injustices produced by extreme poverty, and believe Upaya’s work can have a very positive impact on India’s neediest communities,” she said.

A trained lawyer with experience litigating civil and consumer cases in Indian courts, Tanya has spent the last 10 years working in the development space in areas of good governance, education, women's and children's rights.

“From the first conversation we were impressed with Tanya's passion and desire to make a difference in the lives of the ultra poor,” said Upaya’s Executive Sachi Shenoy. “As we enter the next phase of the organization’s growth, we believe that Tanya’s unique blend of skills and experiences will be a tremendous asset to Upaya, its partners, and all those we are working to serve,” said Shenoy.

Prior to joining Upaya, Tanya was a Rural Business Development Advisor with Sun Edison, one of the world’s largest solar development and management companies. This followed several years with Ashoka: Innovators for the Public where she set up an initiative that gave access to social entrepreneurs to high quality legal services, helped law firms in India systematise pro bono lawyering into their practice, and managed a fellowship program that has since engaged more than 350 Ashoka Fellows. Tanya holds a B.A.LL.B, Law from University Law College.

With this addition, Tanya is taking over the title of Director, Strategy & Operations from Upaya Co-Founder Steve Schwartz, a move that reflects Upaya’s expansion of its India-based team and infrastructure. Steve is transitioning to Director, External Relations where he will lead the organization’s fundraising and outreach efforts, as well as continue providing ongoing strategic marketing support to Upaya's partners. 

Eco Kargha Baseline Social Metrics Report (November 2013)

In November 2012, Upaya initiated a partnership with Bhagalpur-based start-up Eco Kargha Marketing Pvt. Ltd., a company working to improve the lives of rural weavers through the production and sales of traditional handloom products. Surveyed in mid-2013, this Baseline Social Metrics report provides a snapshot of social metrics for 119 weavers working with Eco Kargha at the time of their hire, serving as a baseline for reporting their progress out of poverty.

The data in this report was collected before these households started their employment with Eco Kargha, and prior to receiving their new income stream. Before Eco Kargha was established, the only option open to these weavers was to sell their products to local wholesale agents and receive devastatingly low margins and irregular payments. Due to the uncertainty of demand from these traders they would end up with little to no work - especially in the summer months.

Among the report’s findings:

• While only 15% of households live under the $1.25 a day extreme poverty line, the per capita earnings are just $0.49 per day for each member of the average five-person household.
• For most of the households weaving not only employs a majority of their family members, but its contribution in the family pool of income is also the highest.
• The majority of houses include one form of sturdy building material – either wall or roof – however 89% are categorized as “semi-pucca,” meaning that quality materials are augmented with mud or thatch.
• Food expenditures consume 85% of the average weaving household income, which is 30 percentage points higher than the Indian national average.

The business generated by Eco Kargha comes as a shot in the arm for weaving households, increasing household earnings and allowing them to rely on their craft as their primary source of income, year round. Subsequent metrics reports will track these households’ progress and report on improvements in their quality of life as a result of these new jobs.

You can download the full report here.

Upaya Announces Collaboration with the Bill & Melinda Gates Foundation, Samagra

Starting in November 2013, Upaya Social Ventures and the Bill & Melinda Gates Foundation are teaming up to incubate a Foundation-backed urban sanitation venture within Upaya's LiftUP Project framework.

Through this collaboration, members of the Upaya team will work with the founder of Pune-based Samagra to explore and refine the promising start-up's business model, and prepare the venture for follow-on growth funding.

Upaya Transitions Out of its LiftUP Project Partnership with Justrojgar

Upaya has decided to wind down its LiftUP Project partnership with Delhi-based Justrojgar following a difference with management about operating practices. With this change, Upaya will continue to hold its equity position in the company, however, the Upaya team will no longer provide technical support that is central to its LiftUP Project partnerships.

“While we are altering the structure of our partnership with Justrojgar, we maintain our fundamental belief that the facilities management sector - both commercial and residential - represents a tremendous opportunity to create large-scale employment for ultra poor slumdwellers” said Upaya Director, Business Development Sreejith Nedumpully.

October Newsletter: Committing to Job Creation

Two weeks ago I was honored to represent Upaya at the 2013 Clinton Global Initiative! We received widespread praise for our work -- so many attendees were impressed by what our partners have accomplished, against great odds. At the meeting, Upaya made a Commitment to Action to create dignified jobs for the ultra poor, primarily women, in India by October 2014 by doubling the number of enterprise partners in our LiftUP Project network.

Click to read the full newsletter.

Social Performance Metrics report 24% increase in the per capita income of MILK ROUTE dairy farmers

Committed to rural transformation, MokshaYug Access (MYA), the company behind the brand MILK ROUTE, in association with Upaya Social Ventures, released its first Social Performance Metrics report for 2012-2013. MYA undertook this evaluation to measure the social impact of its dairy business and assess the benefits MILK ROUTE has had on the lives of dairy farmers. The survey was conducted over a course of four months in 2012 and covered a total of 1,486 households across 269 villages in the districts of Tumkur, Mandya and Kolar.

According to key findings of the survey:

• MILK ROUTE households reported a 24% higher average per capita income when compared to their counterparts (Control Group households).
• By virtue of access to high quality cattle feed and veterinary services, MILK ROUTE households produced milk that consistently beat the industry’s average yield parameters, as measured by percentage fat and non-fat solids. These higher yields provided an additional 10% in earnings per litre for the households.
• MILK ROUTE households were also able to provide, on average, 5.5 more litres of milk per month to their children compared to households that were not suppliers of the MILK ROUTE dairy. The choice to consume more at home versus selling the milk demonstrated greater income security in general.
• As a result of increased, regular and transparent compensation combined with a support system that included access to training, high quality feed, and veterinary services— nearly 41% of all MILK ROUTE households reported dairy as their primary livelihood versus 25% of households before MILK ROUTE was introduced.

Harsha Moily, Founder and CEO, MokshaYug Access said, “One of MYA’s key objectives is to create income certainty for the farmers through our First-mile focus. It is encouraging to know that our efforts of transforming rural households are paying off. The social performance metrics survey helped us analyze our progress in our farmer centric approach and also helped us understand the gaps and what we need to do next to take this to the next level.”

Sachi Shenoy, Executive Director, Upaya Social Ventures added, “We believe in partnering with businesses that transform lives by creating dignified job opportunities. It is encouraging to see that MYA has had an impact on the lives of so many dairy farmers in Karnataka. This is just the beginning and we look forward to growing our association with MYA.”

METHODOLOGY: The data collection for MILK ROUTE involved both quantitative and qualitative approaches and relied on the usage of standard survey tools to directly collect and assimilate data from farmers. The SPM evaluation was carried out in three districts of Karnataka, namely Kolar, Mandya, and Tumkur. A total of 1,486 households were surveyed from 269 villages and fall into one of two groups: those who are suppliers of the MILK ROUTE dairy and those who are not (Control Group).

The process of narrowing down which MILK ROUTE households to survey included three tiers of selection criteria. In the first tier, milk procurement estimates were taken for each district to help in the selection of MILK ROUTE villages. Based on the percentage of milk procured from each district, a proportional number of sample villages were selected. Thus, 49% of the MILK ROUTE households were selected from Tumkur, 40% from Kolar, and 11% from Mandya, which roughly aligns with the fact that 48% of the total milk collected by MILK ROUTE comes from Tumkur, 44% from Kolar, and 8% from Mandya. In the second tier, the selection of individual villages was further qualified through purposive sampling. The only villages eligible for selection were ones that provided over 80 litres of milk per day to MYA. The third tier involved a random selection of households based on the short list of villages prepared through purposive sampling.

Control Group villages were selected in order to establish a proxy baseline to aid and assist in comparison. The selection of Control Group villages was completed through a matching process. This exercise involved each MILK ROUTE village being matched to a Control Group village based on key parameters such as economic activity, demographic profile, access to infrastructure, and distance to the nearest city. The selection of Control Group households was also purposive, i.e. those who did not own cattle were screened out.

To download a copy of the report,

click here

.

Upaya at Clinton Global Initiative 2013 in New York City

The Upaya Social Ventures team attended the 2013 Clinton Global Initiative in New York City on September 23rd - 26th, joining an esteemed group of organizations who have made far-reaching Commitments to Action in order to resolve the world's most pressing problems. The Annual Meeting's theme was "Mobilizing for Impact," and strongly encouraged the forming of partnerships and action plans in order to meet members' ambitious goals.

Executive Director Sachi Shenoy, represented Upaya at the meeting and had the opportunity to make a public Commitment to Action: to create dignified jobs for the ultra poor, primarily women, in India by October 2014 by doubling the number of enterprise partners in Upaya's LiftUP Project network. 

"The meeting was a fantastic opportunity to meet and collaborate with hundreds of other organizations -- both large and small -- who are all passionate about global social impact," said Shenoy. "Over the course of four days, we met influential thought leaders and other social entrepreneurs, and forged connections over a variety of working sessions and social events. The meeting left us energized, validated, and excited by all the potential partnerships that lie ahead!"

A particular highlight was the "Impact Investing: The Second Act" session. The room was filled with many prominent impact investors and entrepreneurs who engaged in an extremely frank discussion about both the opportunities and very real challenges that still face social start-ups in the so-called Pioneer Gap. "With so many leaders on both sides in the same room, it was a good reminder for me that Upaya is not alone in seeing the growth of Small and Growing Businesses (SGBs) as a transformative force in the fight against extreme poverty," said Shenoy, "but it also reinforced that we have a long way to go in realizing our goal."

Upaya Welcomes Neal Winterhof as Director, New Initiatives

Upaya Social Ventures is proud to announce that Neal Winterhof has joined as the organization’s Director, New Initiatives. Working with the global Upaya team, Neal will lead the development of new strategies, tools, and relationships for the expansion of Upaya’s job creation capacity.

“Upaya is doing innovative work applying business principles and entrepreneurship to break the cycle of poverty,” said Winterhof. “The team built an incredible foundation over the past couple of years and I'm excited to help further Upaya's mission in the coming years,” he said.

A veteran of the financial services industry, Neal brings nine years of investment management and social investing experience to Upaya. He joins Upaya from Woven Fund, an investment fund he established to make early stage investments in positive impact companies. He was also Strategist at the derivatives hedge fund AlphaBet Management, leading the build out of the firm's global trading capabilities in the US, Europe and Asia. Prior to joining AlphaBet, Neal launched the physical oil trading business at Lehman Brothers after starting his career in investment banking.

“From our first conversation I was struck by the similarities between Neal’s thinking about poverty alleviation and the Upaya vision,” said Upaya’s Executive Director Sachi Shenoy . “His skills, experience and passion are a tremendous addition to the team as we look at new ways of scouting, selecting, and supporting promising entrepreneurs,” Shenoy said.

Driven by a commitment to fight social injustice in all of its forms, Neal is on the Board of Directors of Hope for New York and previously served on the Board of Restore NYC and advised Isaac Slade of The Fray on his philanthropic efforts.

Upaya Joins Grassroots Business Fund, Lumana at SOCAP13

Bringing the exploration of the Pioneer Gap to one of the nation's largest social enterprise gatherings, Upaya Board Chair Kate Cochran presented alongside Grassroots Business Fund COO Robert Webster and Lumana Village Ventures co-founder Sammie Rayner at the Social Capital Markets 2013 (SOCAP13) conference in San Francisco. 

Moderated by NextBillion.net Managing Editor Scott Anderson, the panel explored the challenges impact investors face in supporting entrepreneurs in the startup phase and how different organizations  - Upaya included - have developed creative models for filling the void.

(L to R) Scott Anderson, Kate Cochran, Robert Webster, and Sammie Rayner discuss enterprise support in the Pioneer Gap at SOCAP13.

"It is exciting to see how much interest there is in nurturing early stage social enterprises, as well as the acknowledgement that this stage of investment is best served by philanthropic capital--from foundations, the public sector, and individuals," said Cochran. "Although our panel included people working at different points in the continuum--some providing returns and some not--we all agreed that priming the pump with "public good" money is the best way to build a thriving ecosystem for impact investing," she said.

The SOCAP13 audience posed questions to the panelists about the opportunities and challenges of supporting early-stage businesses.

Upaya's Steve Schwartz on Rainmakers.tv

Upaya co-founder Steve Schwartz talks job creation for the ultra poor on Rainmakers.tv

Click to watch the full video:

Sreejith Nedumpully Joins the Upaya Team as Director, Business Development

Upaya Social Ventures is proud to announce that Sreejith Nedumpully has joined the organization as Director, Business Development. In his role, Sreejith will lead Upaya’s LiftUP Project in India.

Sreejith brings to Upaya over 12 years of experience in retail, emerging markets, financial inclusion, SME promotion, incubation and entrepreneurship. Most recently, he was the Co-Founder and Managing Director of ROPE International, a premium brand of natural, handmade lifestyle products from renewable materials. Today the company creates employment opportunities for over 1,000 rural artisans through its village cluster model, and wholesales its products to a variety of well-recognized domestic and international retailers.

Throughout his career, Sreejith has been involved with several social enterprise efforts including work with TeNeT Group, IIT Madras, Villgro Innovations Foundation, and the DHAN Foundation, and has consulted for organizations including Business and Finance Consulting GmbH Zurich, Women on Wings, the Sir Ratan Tata Trust, and Simpa Networks.

Nedumpully’s arrival follows the spring departure of Upaya Co-Founder Sriram Gutta. Gutta was recently named a Fulbright scholar and is pursuing a Masters degree.