News and deals update around the world
We are proud to announce that in the second quarter of 2009, eight entrepreneurs got their business plans matched by / via BiD Network, amounting up to USD 1,556,667. Since the beginning of this year the BiD Network's investment value reaches USD 1,842,712 with a total of fifteen plans financed.
Below an overview of the completed and ongoing deals, per country
1. Peru:
2. Colombia
3. Argentina
4. Bolivia
5. Jordan
6. Ecuador
7. The Philippines
8. Kenya
9. Uganda
10. Mexico
Peru
Peru is moving forward. Our national partner Invertir has already organized, in last June and in early August, two investor / entrepreneur meetings with great success. This is an important step to start encouraging the local angel investors to invest in BiD Network plans in Peru. Until the end of September Invertir, our local partner, will be receiving business plans to participate in the Peru BiD Network Challenge 2009. This final event is scheduled for the end of November. In December, Invertir will organize an event in which the 30 finalists to the Peru BiD Challenge 2009 will have the chance to present their plans to a panel of local investors.
Colombia
Rodrigo Rojas of Alimentos Artesanos, a BiD Network entrepreneur from Colombia, is in a advanced stage of negotiations with a US based Private Equity Investor. More matches are expected in October, when the international investor forum takes place in its capital city, Bogota. This event is organized by Universidad de Los Andes, our national partner in Colombia. International investors are invited to the event, also one or more Dutch funds are expected to assist.
Argentina
In Argentina, Gustavo Gennuso of 'Tecnologías para la Vida' from Bariloche, a city located in the Argentine Patagonia, has found a private investor for his business plan, i.e. the production of manual water pumps for rural areas.
Bolivia
In Bolivia, July was an exciting month for BiD Network. Various matching opportunities were identified and presented to the new Bolivian fund Fondo Emprender, which has been launched a few months ago and is targeted to finance start ups up to USD 200k. Also, two Bolivians entrepreneurs are under serious negotiations towards financing their plans. These entrepreneurs are Viviana Soruco of 'Andean Organic Babyfood', and Jorge Lincoln Huici of 'Exclusive Tours'. The latter is launching the first 'quadratrack' tour on the infamous "camino de la muerte" from La Paz to Coroico. Also some interesting agri-businesses from Cochabamba joined with a range of alternative crops such as guaraná, noni, amaranto and quinua. All of them aim for local processing and export.
Jordan
In Jordan BiD Network works together with BDC, which is a young and dynamic organization focused on stimulating entrepreneurship and creating jobs in Jordan. BDC went through a rapid growth in a short time and has recently decided a major internal restructuring process was necessary. They have set up an SME department which will be the one working together with BiD Network. This department is led by the experienced Ms. Samah Nabulsi and Mr. Bassem Saad. The latter has just been appointed as new local Matchmaker.
Ecuador
Last June the Ecuador BiD Network Challenge 2009 was launched with the presence of the Ministry of Production and its delegation. Ecuadorian entrepreneurs can now start submitting its plans to participate in the Challenge. Our local partner ConQuito expects to receive more than 600 plans this year, against 400 last year. Seven incubators coming from different parts of Ecuador, received training by BiD Network in Quito. This will mean that Ecuador will have seven new assessors in its hinterland. This will enhance BiD Network presence throughout the country, and will allow entrepreneurs coming from all the corners of the country a chance to upload their plans and be assessed by experts in their vecinity.
The Philippines
PBSP (BiD Network’s national partner in the Philippines) has been working really hard in setting up their local Matchmaking services the last months and this effort is now really starting to pay off. They have, for instance, set up collaboration with the local office of Oikocredit and have started working together with Oikocredit Philippines in order to select the best entrepreneurs and do due diligence checks on them. Quite a number of BiD Network entrepreneurs are now under review for financing at Oikocredit Philippines and the first entrepreneur has actually just been financed for an amount of USD 167,000
Just recently another BiD Network entrepreneur from the Philippines: Homero Alcon, with his Central Material Recovery Facility also just received finance for an amount of USD 63,000
Also PBSP will be organizing its first Investor Forum in September.
Kenya
Synergy, BiD Network’s national partner, is now an official member of the Kenyan Association Investment Group. This greatly increases its network of local financiers and gives it more credibility and attractiveness towards its (potential) clients: SME entrepreneurs. More info about KAIG: www.kaig.org. Also more good news come from Kenya since IUCN (the International Union for Conservation of Nature) has granted Kasigau with USD 25,000. Franklin Omondi, the entrepreneur in charge of this project, is in the process of setting up eco-lodges in Tsavo National Park, Kasigau, Kenya. The project will provide an alternative source of income for the community, which will positively affect wildlife populations and forest recovery. IUCN supports Franklin in bringing about a water basin for the wildlife to regulate the presence and movements of animals close to the lodges. This will help Franklin to keep them on a safe distance while being clearly visible to the tourists.
Uganda
Our national partner in Uganda, MUBS is getting ready to ensure, that the investor safari that will take place in the up coming month of October, is a real success. Warren, our local matchmaker, is part of the local team in charge of the safari organization. Furthermore, the first customer has been served with BiD Network Investment Services. Partner MUBS will be monitoring a starting Ugandan ICT entrepreneur, on behalf of an Irish informal investor.
Mexico
Mexico has recently joined Bid Network. Our local partner, Fundación e, has been doing their homework and its already giving its fruits. We are still receiving plans from the Mexico City area, within an array of sectors. From top notch artist performers to energy drink plans. In September our local partner will choose their best entrepreneur that will come to the Netherlands to the next BiD Network international market place in 2010. On the 5th and 6th of November 2009 BiD Network and Fundación E are organizing an International SME Investor Forum in Mexico City. This forum brings together 100 investors, fund managers and investor networks from in and outside the region to share expertise, contacts and deals. Issues on the agenda include cross border investment, syndication, investment models and exit strategies. The forum is part of the Mexican SME week that brings together over 2000 entrepreneurs.
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