Omidyar Network will identify and support organizations that aid entrepreneurs in overcoming challenges related to building successful businesses. Omidyar Network's support will consist of both financial capital and human capital.
Omidyar Network will identify entrepreneurs who have a proven business model that is ready to be scaled, providing economic advancement opportunities for the employees and communities around them. Omidyar Network will specifically seek out entrepreneurs with the potential for the greatest impact - i.e., reach large numbers of people with critical services or products that were not previously available in India and Sub-Saharan Africa.
Omidyar Network will work with local experts to help identify potential organizations, such as funds, to support entrepreneurs directly or indirectly. This may take the form of hiring Omidyar Network employees in these regions, or working with contractors or other intermediaries.
Barriers to entry in emerging geographies include: difficulty in obtaining business license due to lack of infrastructure, time commitment, and corruption; funding resources limited to friends and family due to lack of venture capital; a very small number of other experienced entrepreneurs to learn from and mentor others; lack of business infrastructure; lack of information including best practices; and poor physical infrastructure such as roads or electricity.
Omidyar Network's commitment will help address the barriers that entrepreneurs face when trying to set up a business in their local community. This commitment also will be realized through Omidyar Network's Access to Capital initiative-- supporting organizations that create economic opportunity for the base of the pyramid through access to capital.