Stanford business students partner with nonprofit The Idea Village and get involved with several New Orleans enterprises. Their mission is to show these businesses ways to grow and sustain in the post-Katrina city.
Stanford MBA students offered suggestions and backed up their advice with small grants totaling $50,000 to a few of the businesses.
MBA students Sam Goldman and Ned Tozan want to light up third world lives with LED technology.
After Stanford and a stint at the Rockefeller Foundation, Jacqueline Novogratz (MBA '91) raised about $8 million from Rockefeller, the Cisco Foundation, and wealthy individuals to start Acumen (which her brother suggested she call "Ain't Your Grandma's Philanthropy"). Acumen tackles old problems - malaria, children's health, housing - in new ways. “I've learned that many of the answers to poverty lie in the space between the market and charity and that what is needed most of all is moral leadership willing to build solutions from the perspectives of poor people themselves rather than imposing grand theories and plans upon them,” Novogratz says.
Stanford Graduate School of Business Alumni and Acumen Fund CEO Jacqueline Novogratz received the 2009 Center for the Advancement of Social Entrepreneurship's Leadership in Social Entrepreneurship Award at the Fuqua School of Business following her presentation on Acumen Fund's mission of making loans to people and communities in the developing world.