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2008 3rd Place 2008 3rd Place Presentation Transcript

  • Life Through Energy and Enterprise Team 10 Faisal Butt | Jodi Goldberg | Allan Kellogg | Christina Sauro
  • << Agenda >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Opportunity Opportunity Statement Essentials E+Co’s Current Situation Global Conditions Global Current Situation Re-Evaluation Recommendation Execution Implementation Outcome Conclusion
  • << Opportunity Statement >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | By expanding its enterprise-centered business model, E+Co can serve between 44-57 million people in developing regions, while achieving an IRR of between 19-22% and positively impacting the triple bottom line performance over the next ten years.
  • << Achievements to Date >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
    • Culture:
      • Entrepreneurial model
      • Female leadership (65%)
      • Growth driven by successes
    • Operations:
      • 25 developing countries
      • Provide ~3000 local jobs
      • Serve ~3.6 million
    • Environmental Impact:
      • Offset 2.2 million tons of CO 2
      • WREC award for vision in the environmental sector
      • Model to “step the poor up the energy ladder”
  • << Unique Business Model >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Bottom Up Approach Direct Investment, Not “Aid” Best Solutions Come From Within Community Core Values of Empowering Local SMEs Sole Purpose Is Not Profit Maximization Bottom Up Approach Direct Investment, Not “Aid” Best Solutions Come From Within Community Core Values of Empowering Local SMEs Sole Purpose Is Not Profit Maximization Unlike NGOs Unlike MNCs UNIQUE APPROACH PROVIDES SEED FUNDING AND FINDS SECOND STAGE FINANCING
  • << NGOs and MNCs >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | NGOs and MNCs National Governments <1% of Donations Make It To National Development Projects Misdirected Funds People in Rural Regions
  • << E+Co As A Tree >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Direct Investment In Individual Members Of The Community Local Entrepreneurs Invest In Energy, Water And Other Low-Order Needs Direct Investment At Individual Level Results In Increased Education, Health Care, Gov’t And Other Aspects of Society
  • << Stakeholder Analysis >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Local Community Local Entrepreneurs Third Party Investors E+Co Employees Partners & Affiliates
  • << The Energy Ladder >> No Access to Energy Charcoal & Firewood Increased Efficiency Substitutes & Technology Solar & Hydro | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Access to Natural Resources 1 Education 2 Financial Means & Availability 3 Community Involvement 4
  • << 3 Wedge Approach >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | CARBON MARKET TRANSACTIONS FUNDS & AFFILIATES DIRECT INVESTMENTS DIRECT INVESTMENTS FUNDS & AFFILIATES CARBON MARKET TRANSACTIONS Difficulty Replicating Model Limited Affiliations Difficulty Replicating Model Limited Affiliations Increased Resources to Entrepreneurs Increasing # of Eligible Entrepreneurs Fragile Market Costly & Demanding Certification Increased Resources to Entrepreneurs Increasing # of Eligible Entrepreneurs
  • << Unique Strengths >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Local Solutions Solar Heating in South Africa LPG in Ghana Seed Loans Second Stage Investment Revitalization of Neglected Energy Facilities AREED in Ghana CAREC in South America 1 Financing Enterprises 2 Passion & Commitment 3 Partnerships 4
  • << Current Ideology >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
    • Sources of Clean Energy:
      • Solar Panels
      • Wind Turbines
      • Hydro-Electric Dams
    • Why Invest in Energy?
      • Poverty Premiums
      • Global Dangers of “Dirty” Energy
      • Alleviate Energy-Based Poverty
  • << Global Trends >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Latin America: 8.6% in poverty 56 million w/o electricity Gov’t types: Democracy, Communism Southeast Asia: 9% in poverty 706 million w/o electricity Gov’t types: Democracy, Communism, Dictatorships Africa: 41% in poverty 547 million w/o electricity Gov’t types: Democracy, Communism, Dictatorships, Military Coupes etc DESPITE REGIONAL DIFFICULTIES THE E+CO MODEL HAS BEEN VERY SUCCESSFUL
  • << Goals For Growth >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | 1994 2006 2020 12 yrs 14 yrs Company Launch Entrepreneurs Needed 3.6 Million Customers 509 Entrepreneurs 100 Million Customers ~ 20,000 Entrepreneurs GOAL #1: ACHIEVE 30-FOLD INCREASE IN CLEAN ENERGY PROVISION GOAL #2: APPLY E+CO BUSINESS MODEL TO OTHER SECTORS
  • << Risk of Rapid Growth >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | EXPLOSIVE GROWTH NOT ALIGNED WITH GRASSROOT MODEL
    • Pressure to Grow Decreases Quality of Portfolio
    • Lower returns
    • Less Control
    • Higher Risk of Default
    Unsuccessful Ventures Fester Doubts Strained Relationships with Affiliates
  • << Revised Goals >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Investment Guidelines >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | New Funds for New Energy 1 Business-Like 2 Reasonable Level of Risk 3 Human Capability 4 Capital to Ensure Success Poor Market Assessment Issue of Profitability and Sustainability How to Acquire Funds?
  • << Mission Statement >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | “ Empower local SMEs that supply clean, modern, affordable energy to households, businesses and communities in developing countries .” EXPLOSIVE GROWTH JEOPORDIZES CORE MISSION
  • << Redefining Energy >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | CLEAN ENERGY ELECTRICITY = Renewable Human Non-Renewable LIFE THROUGH ENERGY AND ENTERPRISE
  • << Strategy For Africa >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | GOAL: DEVELOP SMES IN RURAL AFRICA Continue investment in energy entrepreneurs Apply business model to water infrastructure Increase awareness and recruitment efforts 1 2 3 Achieve Goal Through the Revision of the Three Wedges
        • Direct Investment
        • Funds & Affiliates
        • Carbon Market Transactions
  • << Why Africa? >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | 49% of E+Co’s Total Investments - Most enterprises by region 1 Only Developing Region With Increasing Poverty Rates 2 2005-2006 Aid Budget Decreased By 5% 3 Since 1960, $450 Billion in Foreign Aid Has Resulted In A 0.6% Annual Decrease in GDP 4 Over Reliance On Foreign Aid Vs. FDI 5
  • << Timeline >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Hire and Train Ambassadors Train new personnel Water Segment Expansion Ambassador Program & Marketing Initiatives Explore Partnership Opportunities
    • Open GMS To Public
    • Sell Carbon Offsets at Premium to Individuals
    • Continually Evaluate Global Carbon Offset Market
    Establish New Local Partnerships & Re-evaluate Existing Relationships Direct Investment Affiliates & Funds Carbon Trading 2008 2009 2010 2011 2012+
  • << Awareness Campaign >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | HIRE LOCAL AMBASSADORS TO RECRUIT POTENTIAL ENTREPRENEURS 9 Strategic Locations with 5 Ambassadors Each Assistance For Creating Business Plans With Locals Word of Mouth  Community Marketplace Direct Investment
  • << Awareness Campaign >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Awareness: Marketing >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Direct Investment RADIO INITIATIVE
    • One of the most widely-available forms of communication
      • 60 percent of Africans have access to a radio
    • Greater ability to target illiterate Africans
    AMBASSADOR PROGRAM
    • Recruitment process for E+Co to identify potential
    • entrepreneurs
  • << Ambassador Selection >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | UTILIZE EXISTING CONTACTS FROM LOCAL REGIONS Initial Pool: 710 Trained Entrepreneurs Collaborated With On Energy Projects E+Co Trained But Unutilized Entrepreneurs BRING BACK INDIVIDUALS WITH E+CO EXPERIENCE AS AMBASSADORS 509 201 Direct Investment
  • << Ambassador Program >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | INTERVIEW AMBASSADOR-SPECIFIC TRAINING IMPORTANCE OF MIDDLEMEN COMPENSATION Re-interview trained entrepreneurs to find appropriate personalities Some additional training necessary for new task Large part of African culture; preference for middlemen Marginally above average continent wage 1 2 3 4 Direct Investment
  • << Program Benefits >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Encompasses the Entrepreneurial Spirit Success in Africa Signals An Adaptable Model Can Lead To A Permanent Vocational Training Centre 1 2 3 Direct Investment
  • << New Sector Expansion >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | E+CO GROWTH PLANNING STRATEGY Continued Experimentation Funds & Affiliates Approach Adopted To Tap Growth Potential Small Seed Investment Used To Identify Niche Markets Direct Investment
  • << Clean Water >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Utilize Enterprise-Centered Model Hire Water Management Expert Follow Energy Learning Curve – Width Expansion 1 2 3 Direct Investment
  • << Why Clean Water? >> Africans Receive Only 8L/day For All Survival Needs Just 1L More Than Minimal Survival Requirement Average American Uses 500L/day Lack of Water Means Many People Have To Travel For Hour/Days To Find A Clean Water Source Many Girls Miss Out On Educational Opportunities | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Exploring Partnerships >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Partnerships Local Partners Supply Funding Global Impact AFRICA ASIA LATIN AMERICA
    • EcoBank
    • ADB Finesse Africa
    • DBS Group
    • Grameen Bank
    - Banco del Sur
  • << GMS Transformation >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Carbon Market TRANSPARENT EXTRANET POTENTIAL INVESTOR SHOWCASE OPPORTUNITY TO SELL CARBON CREDITS
        • All facets of operations depicted
        • Reports, programs, photographs, presentations
        • Attractive to individual investors
        • B2C model in addition to current B2B model
        • Can sell to individuals rather than corporations
        • Opportunity for price premium
    1 2 3
  • << Carbon Credit Sales >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Carbon Market WHY NOT SELL ALL CO 2 OFFSETS TO BUSINESS? CARBON OFFSETS + SOCIAL RESPONSIBILITY PRICE PAID BY CONSUMERS CARBON OFFSETS PRICE PAID BY CORPORATIONS Vs. Early stage markets are fragile Must continue to sell in proven markets - Example: CitiGroup and Esperanza 1 2
  • << GMS Expansion >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Carbon Market Maintain Existing Login and Privileged Information Link From Main Website To Direct Traffic Expand Scope of Language Offerings - Include most prevalent dialects
    • Decide Information to Release to Public
    • Benchmark against Kiva’s online investing model
    • Certify retail sales of carbon credits
    Maintain Existing Login and Privileged Information Link From Main Website To Direct Traffic Expand Scope of Language Offerings - Include most prevalent dialects
    • Decide Information to Release to Public
    • Benchmark against Kiva’s online investing model
    • Certify retail sales of carbon credits
  • << GMS Functionality >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Carbon Market FUNCTIONS AVAILABLE TO THE PUBLIC: CO 2 Offsets for Purchase Investment Opportunities and Gift Cards 1 2 FUNCTIONS AVAILABLE TO THE ENTERPRISES: Benchmark Performance Against Other E+Co Funded Projects 1
  • << Portfolio Performance >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | BEFORE (FYE 1998-2006) AFTER (FYE 2007-2017)
  • << Additional Considerations >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Project Funding Through Long-Term Debt and Mezzanine Financing Credit Market Outlook: Reduce Reliance On Debt And Increase Equity Investment Target Portfolio Mix: 60 % Equity to 40% Debt
  • << Bottom Line Evaluation >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | E+Co FINANCIAL SOCIO-ECONOMIC ENVIRONMENTAL
    • - Increased Funding
    • From Regional
    • Corporations
    • Reduced cost
    • structure ($0.28:$1)
    • - Increased # of
    • Consumers Served
    • Increased Local
    • Jobs
    • - Increased SOL
    • Increased # of SMEs
    • Decreased Carbon
    • Footprint
    • Increased Clean
    • Water
    • Efficient Use Of
    • Existing Resources
  • << Q & A >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Language Barriers Why Not India? Water Ladder Uncontrollables Why Not Asia? Why Not China? Ambassador Communication Ambassador Roles Budget Assumptions Portfolio Assumptions Renewable Energy I Renewable Energy II Statement of Activity Financial Statement Expense Budget Expense Budget II Miscellaneous Why EcoBank ? Why DBS? Why Banco Del Sur ? Why ADB? Potential Water Affiliates Clean Water Projects Why Not Carbon Trading? The Water Plan Financials Other Operations Ambassadors Additional Facts Partners THANK YOU
  • << The Water Ladder >> No Access to Water Iodine & Purification Well Water VIA Manual Pump Electric Pump City-Wide Septic System | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome | Availability 1 Technology & Funds 2 Energy 3 Community Involvement 4
  • << Language Barriers >>
    • Local ambassadors => expertise in local dialects
    • Nevertheless, there are 8,000 Dialects on continent of Africa
    • Translation to local dialects often available for written materials
    • Common communication via major languages:
      • Arabic
      • French
      • English
      • Swahili
      • Yoruba
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Ambassador Communication >>
    • 1/9 Africans have cell phone, fastest growing cell market in the world
    • Lack of land-line infrastructure as well as limited internet access in certain regions
    • Relatively low cost of cell phones combined with their high flexibility makes them the perfect communication device for our regional manager to communicate with ambassadors
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Why Not Asia? >>
    • Since 1970, poverty in region reduced by 2/3
    • GDP growth between 7-10% each year
    • 1975-2000, GDP increased 3% despite a foreign aid package 1/5 the size that goes to Africa
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Why Not China? >>
    • High, unpredictable fees by local government
    • Nationalized power organization
    • Little readiness to change and adapt
    • More bureaucratic than entrepreneurial
    • Very risk averse
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Why Not India? >>
    • Only 1 regional manager for all of Asia
      • Spread too thin
    • Governmental development of infrastructure and electricity supply
    • Bureaucratic structure with large governmental intervention creates difficult environment to do business
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Mitigating Uncontrollables >>
    • Preference for investing in politically stable regions
    • Do not deviate from the entrepreneurial-based business model
    • Ensure local partnerships with local banks when and where possible
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Ambassadors Roles >>
    • Main focus = spread knowledge of opportunities provided by E+CO
    • Information sessions including technical aspects of solutions
    • Predominantly spoken communication with supporting documents and literature
      • 60% of 16 year olds in Africa are literate
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Budget Assumptions >>
    • Ambassador wages based on average wage for Africa plus premium
    • Average wage Africa: USD 1/day (WEF)
    • 150% premium
    • Salaries for Regional Manager & Water Expert based on regional averages
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Portfolio Assumptions >>
    • Target IRR of between 19-22% based on similar market “Green Funds” returns
    • Number of equity & debt investments based on the current mix with gradual dilution
    • Investment horizon 10 years
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Renewable Energy Certificate >>
    • Cost of license based on actual figures provided by European Commission 2007 Report
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Renewable Energy Certificate >>
    • Technologies that Qualify for RECs:
    • The following generation technologies qualify as producers of RECs:
    • Solar electric
    • Wind
    • Geothermal
    • Low Impact Hydropower ( small-run-of-the-river facilities, not ones that produce dams)
    • Biomass
    • Biodiesel
    • Fuel cells (only if powered by hydrogen produced by one of the above approved generators)
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Statement of Activity >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Financial Statements >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Expense Budget >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Expense Budget 2 >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Miscellaneous Facts >>
    • Over 4 million people have access to modern energy services.
    • 173 enterprises created.
    • Over 3615 jobs supported generating annual income of $8.4+ million .
    • 205,779 tons of firewood saved and 140+ million liters of clean water provided.
    • 3.3 + million tons of CO2 offset.
    • E+Co’s $18.8 million invested has leveraged $113 million from third parties.
    • 8.0%* projected weighted average IRR on loans to developing country energy enterprises.
    • $4.8 million repaid to investors.
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << EcoBank >>
    • Leading independent regional banking Group in West and Central Africa
    • Operates in 18 African countries including Benin, Burkina Faso, Cameroon, Cape Verde, Central Africa, Côte d’Ivoire, Ghana, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Sao Tome, Senegal, Sierra Leone, Tchad and Togo
    • The prime movers behind the creation of Ecobank were the African Chambers of Commerce
      • At that time, the only banks across West Africa were state-owned or foreign banks
      • African businessmen needed to have a local hank that can support them and their businesses
      • Significant demand from small and medium-scale enterprises and from consumers to improve their standard of living.
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << DBS >>
    • DBS is the largest bank in Singapore as measured by assets, and a leading bank in Hong Kong, with leading positions in corporate, SME and consumer banking, treasury & markets, wealth management, securities brokerage, equity and debt fund raising. With one of the highest credit ratings in the region, DBS is ready to serve customers in 15 markets as a bank that specializes in Asia.
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Banco Del Sur >>
    • Set up by Brazil, Venezuela, Argentina, Uruguay, Paraguay, Ecuador and Bolivia, the Banco del Sur's headquarters are going to be in Caracas, with offices in Buenos Aires and La Paz.
    • Rival seeks to usurp IMF
    • The idea was born after what analysts say were the failed economic recipes suggested by the IMF and the World Bank.
    • The agreements to formally set up the bank were signed at a ceremony at the presidential palace in Buenos Aires
    • Bolivian President Evo Morales said the bank would provide a tool to help to combat poverty in the region and brought &quot;new hope&quot; for the people of South America
    • Today, he said, &quot;it is a political reality that forms part of an economic and social war“
    • The bank aims to start with capital of $800m (£400m) and eventually gather $7bn, with funds to deal with natural disasters and develop joint scientific and economic projects across the region.
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << ADB >> | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Potential Water Affiliates >>
    • Primate’s World Relief and Development Fund
      • Work in Kenya, Tanzania & Mozambique
    • The Water Project
      • Online donations used to bring clean water to regions like Kenya & Cameroon
      • The water projects in Kenya are designed to help people who currently walk several kilometers a day to collect often dirty, diseased water
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Clean Water Projects >>
    • Provide access to clean drinking water
      • Rain Water Harvesting from Roof Tops
      • Biosand Water Filters
      • Weirs (Small sand dams that capture water during the seasonal periods of rain)
      • Water Tanks
      • Water Pipes
    • Typical Water Project Goals:
      • Access to Water within 1 km (half-mile)
      • 50 litres per person/day
      • Clean, Filtered & Disinfected Water
      • Sustainability
      • Community Ownership and Management
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |
  • << Why Not Carbon Trading in Africa? >>
    • Obstacles
      • lack of finance
      • complexity of carbon markets
      • Africa does not have as much heavy industry as China or India from which to reduce greenhouse gas emissions
    • Failed to help Africa; China and India dominate sales
      • Africa accounted for 3 percent of certified emission reduction (CER) permit sales last year
      • 61 percent from China
      • 12 percent from India
    • Weak Bargain for Africa
      • Tree farmers will earn $5 to $8 per tonne of carbon emissions
      • Prices for carbon trade range between $25 to $30 per tonne in the western world
    | Opportunity | Essentials | Global Conditions | Re-Evaluation | Execution | Outcome |