The Omidyar Network announced earlier this week that they plan to invest $30 million in India and Africa. The $30 million will be used to support global entrepreneurship and hopes to improve the quality of life for people in those areas. Omidyar Network’s announcement was made at the 5th annual meeting in New York for the Clinton Global Initiative.
“Imagine what?s possible if entrepreneurship flourishes worldwide. Omidyar Network aims to create opportunity for entrepreneurs to succeed; when they do, so do their families and communities,? stated Omidyar Network Managing Partner Matt Bannick. ?People living in poverty are often ignored by mainstream businesses; we will prioritize our support for entrepreneurs providing services and products that can improve quality of life for those most in need.?
The investment is intended to be provided for high-impact entrepreneurs with proven business models. The investment will go towards both profit and nonprofit organizations. The Omidyar Network was started by eBay founder Pierre Omidyar and his wife Pam.