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USAID’s TechCon Highlights Funding Opportunities for Consequential Entrepreneurs

11/24/2014

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November 8-10, 2014, a team of students from Duke University joined SEAD at the USAID HESN TechCon 2014.  TechCon is a chance for researchers and students, entrepreneurs and innovators, field practitioners, and private sector professionals to focus on creative approaches to solution ideation, testing, and scaling for international development.  After TechCon, we asked our students to reflect back on the conference and share with us insights and learnings.  

Today's post comes to us from Fuqua School of Business MBA student Jose Magaña Paredas.
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Jose Magaña Paredes (left) facilitating a design thinking workshop during TechCon 2014.
It’s well known that entrepreneurial execution is what distinguishes good teams from good ideas. I would add that access to capital and adequate funding is paramount for entrepreneurial success. This is where USAID’s Development Innovation Ventures 3-stage funding model is a real plus for social entrepreneurs seeking to secure funding without having to worry about the intimidating world of venture capital, which usually entails relinquishing control over your company and equity dilution. DIV provides funding to test proof of concepts and other early stage testing (stage 1), followed by solution evaluation and positioning for scalability (stage 2), and finally for organizational transitions to large scale operations (stage 3). At every stage, DIV is seeking to understand how cost-effective, valid, and scalable an entrepreneur solution really is; something that entrepreneurs should be doing regardless of a DIV partnership. DIV funding can serve as a one stop financing shop because funding ranges from $100,000 to $15 million for a single venture, allowing for continued funding from a single entity and without the trouble and cost of searching for multiple venture capital partners.

Entrepreneurs who have innovative solutions to pressing problems in developing regions are encouraged to apply. Innovation means, per USAID’s DIV team member Duc Tran, ‘delivering higher impact at a lower cost than current models or practices’. The initial application is five page letter of intent and applications are accepted on a rolling basis. Entrepreneurs in academia or out of school who looking to provide solutions to global challenges are encouraged to apply regardless of the type of business entity or formation, i.e. LLC, C-Corp., B-Corp. etc... Special sectors and regions are eligible for additional funding support. These sectors include Water, Sanitation & Hygiene sector; Humanitarian sector; Haiti; Latin America & the Caribbean region. Don’t let this funding opportunity not be something you consider as you prepare to hit the pavement and raise money for your venture; I know I’m submitting an application because I can’t afford not to!

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Jose’s an aspiring entrepreneur who’s currently leading a mobile health and diagnostics start-up that intends to bring alternative screening and monitoring solutions for chronic kidney disease to diabetic patients worldwide. His academic ambitions are as big as his entrepreneurial aspirations; Jose is pursing two Masters degrees at Duke University’s Business and Environmental Management programs. Prior to Duke Jose worked for nearly seven years, with five of those years belonging to the healthcare delivery space.

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Duke Students win first and second place in the Blind Spots in International Development Contest!

11/12/2014

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What are the most significant unrecognized challenges that would benefit from the power of science, technology, innovation, or strategic partnership (STIP)? USAID and Big Ideas@Berkeley challenged thinkers to use their field experience and knowledge to identify overlooked development challenges in essay format.

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Rahman and Tu receive their awards at TechCon 2014
Check out the essays written by two Duke students who took first and second place in the competition!

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First Place

“Curtailing Deforestation in Indonesia: Improving Forest Mapping and Monitoring using Drones Technology” by Rahman Adi Pradana, Master of Public Policy, Duke University

Countries rich in natural resources, such as vast forest lands, struggle with monitoring and managing remote areas. What types of technologies can be used to affordably and sustainably patrol natural resources and track and enforce the policies created to protect these resources?
Second Place

“Using Google Glass to Reduce a Blind Spot in Task-Shifting for Extension of Safe Surgery and Anesthesia Care in Uganda” by Tu Tran, Master of Science-Global Health, Duke University and Dr. D. Oscar Obiga, CHS MMed Neurosurgery Resident at Mulago Hospital, Makerere University.

Globally, 2 billion people do not have access to properly trained surgeons. What types of technological innovations and strategic partnerships can be used to train, monitor, and assist surgeons and trainees in resource-poor or remote locations?
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TechCon 2014: USAID’s Higher Education Solutions Network Showcases Breakthrough Innovations from Top Universities

11/7/2014

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From November 8th-10th, students, development experts, entrepreneurs, and thought leaders will converge at UC Berkeley to highlight the game-changing innovations of tomorrow at TechCon 2014. 

The Higher Education Solutions Network’s TechCon2014 is a public event that brings together students, academics, international development experts, investors, entrepreneurs and tech influencers to address how science, technology, and innovation are shaping international development and the solutions to our most important development challenges.

This year, TechCon 2014 will showcase more than 40 innovations emerging from USAID’s Higher Education Solutions Network (HESN) Development Labs and partners. An Innovation Marketplace will showcase innovations, and will conclude with one young innovator being crowned the top winner through a Shark Tank style competition.  TechCon will also offer a variety of discussions, networking opportunities, unconference sessions, and talks by leading voices in development.

Speakers include:
  • Nicholas Dirks, Chancellor of UC Berkeley
  • Lynelle Cameron, President and CEO of the Autodesk Foundation and the Senior Director of Sustainability at Autodesk, Inc.
  • Chuck Slaughter, Founder and CEO of LivingGoods
  • Kate Bergeron, Senior Director of Product Design at Apple
  • Richard Blum, Founder and Trustee of the Blum Center for Developing Economies
  • Eric Brewer, Vice President of Infrastructure at Google
  • Lona Stoll, Acting Executive Director of USAID’s Global Development Lab

Follow the conversation on Twitter at @USAID, @GlobalDevLab and #HESN

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Duke students at last year's TechCon event
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The Social Entrepreneurship Accelerator at Duke (SEAD)
A USAID Development Lab for Scaling Innovations in Global Health