Fellow Feature: FMS Alumna Ellen Halle

FullSizeRender (4)We had the pleasure of checking in with Ellen Halle, Middlebury College and FMS Alumna, who is currently an Associate at I-DEV International. She talks to us with passion about the work she is doing and how FMS helped her get there:

Tell us a little about yourself and your current position

I currently work for I-DEV International and am based in the Nairobi office. I was connected to the organization through FMS when I participated in the FMS Training in Amsterdam; the CEO of I-DEV was one of the FMS professors. I have a background in global health; during undergrad, the vast majority of my work was in the NGO world in the context of field work, public health research & NGO programming. After graduating from Middlebury, I wanted to gain more experience in the private sector in the context of healthcare; healthcare was my bridge to the private sector. I spent about 2 years I working for a firm called Oxeon Partners in New York, concentrating on early stage venture and private equity-backed health care companies. I learned a ton about growth-stage business strategy and the dynamism of venture capital. However, all of Oxeon’s portfolio companies were focused domestically, and I was really missing the international exposure. Therefore, I wanted a role that would bridge my experience in global health and international development with the work I enjoyed in high-growth, for-profit businesses. FMS was the perfect next step to find that opportunity.

Why I-DEV International?

I-DEV is a strategy consulting & financial advisory firm focused on growing and scaling small and medium sized enterprises (SMEs) in emerging markets. We work with SMEs themselves but also impact funds, commercial investors, multinational corporations with SMEs in their supply chain, and NGOs/multilaterals increasing their focus on enterprise development. We do this across two groups: Insight & Strategy and Financial Advisory. I work as a generalist across both groups, but tend to work more on the Insight & Strategy side.

Ellen leading a strategy workshop in Uganda
Ellen leading a strategy workshop in Uganda

I-DEV felt like a natural fit, given my goal of combining my depth of international field experience (in Uganda, Costa Rica & Nicaragua) with my growth-stage business acumen. The work we do is varied and highly dynamic and we get to spend a lot of time in the field. Because we work with such a diverse array of stakeholders (from the NGOs to the MNCs) I get to think from many different angles throughout every project and frankly, throughout every day. I really agree with I-DEV’s approach to advising and improving businesses; we take into account the views of the entire value chain—from the CEO of the business to the investors to the producers of raw material—smallholder farmers in agribusiness, etc. Creating alignment between stakeholders—and creating alignment between impact and shareholder value—is something I really believe in. For example, some of our work with a multinational apparel company has included the development of what I-DEV calls a “secondary benefits program” for their producer co-ops. Secondary Benefits really just refers to the provision of technical assistance, advance payments, low-interest loans, input discounts, and other benefits to farmers in the MNC supply chain. Companies can offer these benefits to farmers provided they reach certain quality provisions, sell a certain percentage of their crop to the MNC and attend a certain amount of trainings to increase quality. In this way, the MNC aligns impact with shareholder value—improving livelihoods at the BoP while increasing supply consistency, production capacity and product quality.

I-DEV’s goal is to help create businesses that are investable and scalable in terms of both revenue & impact; I think both the impact sector and the East African VC space will really benefit as these companies continue to scale, attract capital and ultimately exit.

What has been the most exciting part about professional life in the impact space? 

I’ve been in Nairobi since March and two things stand out specifically. The first is how amazing it has been to experience such a dynamic…and nebulous…space. The so-called “impact space” brings together players with such different backgrounds: the venture capitalists, the local entrepreneurs, the development banking professionals. The intersectoral collaboration—or lack thereof—in the impact space can be confusing, but bringing together different perspectives is the only way that change has ever been achieved.

From a personal perspective, it’s been such a joy to travel throughout East and West Africa for my role at I-DEV. The opportunity to visit all of the places that I spent my academic career studying and reading about is amazing; realizing that as a young professional I’m able to add value here working small enterprises is even better. Additionally, working with a multi-cultural team has been refreshing and energizing.

With regard to Nairobi, it’s really not that different than New York. Bear with me…I know that sounds crazy. But there’s actually a lot of overlay…they are two crazy busy places, there’s always a lot going on. Nairobi is much more cosmopolitan than people in the US tend to think; something that speaks to its attractiveness to investors as well, I think.

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Ellen during a field assessment of a fair-trade macadamia business in Kenya

How are you directly applying the skills learned through FMS?

FMS formalized my interests by providing additional support and coursework in a structured framework. It also brings together people from a great array of different backgrounds– in that way it prepared me for the impact space…some people are more financially oriented, some are more impact oriented, and FMS mirrored that. Also, I had worked with medium sized VC-backed businesses ($500k+ revenues), but felt that FMS better prepared me for working with very early stage businesses and providing training for young entrepreneurs themselves.

Increasingly my colleagues and classmates who have been working in traditional finance jobs reach out to me to learn about the work I’m now doing and with great interest in FMS. They all have strong business backgrounds and have the desire to do social good but aren’t sure how to channel it. FMS is one of the only programs out there that can harness that type of aspiration and that’s the coolest thing about the program. People do come from different backgrounds, and it’s one of the only programs that can help people coming from the top tier institutions and the traditional experience to apply the skills they have but towards the social impact sector. Other programs target specific people and backgrounds but tend to keep them on the same track, whereas FMS really encourages us to think deeply about change and to go forward and make strong impact.

What are your top three tips for someone looking to start a purpose-driven career?

  1. There is real power in networking and connecting. Do not be hesitant to reach out. It’s the number one way that people can get involved. People like being able to help others, so always feel confident in reaching out and learning more about the spaces that you are interested in. Paying it forward is a good thing.
  2. Think about where you can add value. This is kind of the ultimate catch 22, because in order to add value you need experience, and in order to have experience you probably have one or two experiences where your value-add is minimal. That said, think about the skills that you have and how you can use them to best help a growing enterprise, an impact fund or another entity—maybe its financial analysis, maybe it’s relationship management, but know your skillset and think appropriately about what opportunities fit you best.
  3. Jump in. I think there’s a lot of reticence to move from a traditional finance career to something more nontraditional and risky. Sometimes the best thing to do is just take the leap and make the change you’ve been thinking about.

Reach out to Ellen:  Twitter  Linkedin                           Follow I Dev: Website  Twitter

This is the last week to apply to FMS D.C. Training! Launch your new career, apply today: go.miis.edu/fms

Partner Feature: African Entrepreneur Collective, Inkomoko


AEC Sara Julienne
“One of our main beliefs is that every problem on the continent already has a solution on the continent.”

We are excited to share our first FMS Partner Feature. Our partner organizations are extremely important to us because their work is at the core of what drives our program and our fellows. In a recent conversation with Sara Leedom, co-founder and COO of African Entrepreneur Collective (AEC), she tells us about AEC, how the Frontier Market Scout fellows have impacted their organization and what we can look forward to in the future (including an open job position!).

Tell us about African Entrepreneur Collective

“We whole-heartedly believe in local entrepreneurs, local staff and local leadership!”

African Entrepreneur Collective (AEC) is a network of incubators and accelerators with the goal to create jobs across Africa. Young people across the Continent are more educated and connected than ever before, and yet as countries are seeing double-digit economic growth, young people are often left out of that economic prosperity. We believe that entrepreneurship is a strong solution to the challenge of job creation.

AEC works with young entrepreneurs who already have an idea and a tested model but who can benefit from technical assistance to overcome barriers to their growth. Our ideal client is someone who has worked at least six months on the business and is starting to understand the challenges. At that stage, we want to help support them through those challenges, keeping them in the driver’s seat, and on a healthy path towards success which in turns fosters job creation.

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African Entrepreneur Collective Entrepreneurs

AEC launched in Rwanda, our pilot location, with several offerings: Inkomoko is our core accelerator program, then we launched Tigo’s THINK as the Tech Hub in Kigali to stimulate digital innovation.  We also have a student business plan competition, the African Innovation Prize, which allows us to work with entrepreneurs who are still at the idea stage and give them the opportunity to build a business from the ground up.  And finally, we’re the Rwanda implementer of SPRING, an incubator for companies serving women and girls.

Through these programs, AEC can really help African entrepreneurs because we have been exactly where they are: we’ve had to find investors, hire local staff, advertise here, etc. There is a lot that we have learned by going through the same exact steps that these business owners are experiencing.

Each of our accelerators have four program elements that we believe must exist simultaneously:

  1. Access to Capacity Building Services: practical trainings and workshops, classes on HR and Quickbooks, marketing and human centered design.
  2. Mentorship: each entrepreneur is paired with a mentor from across the globe.
  3. Technical Assistance: for the items that an entrepreneur doesn’t need to master themselves — lawyers on retainer, logo and website designer, tax accountants
  4. Access to Finance: through our Kiva-backed loan fund, we provide affordable and flexible in-house loans as well as transparent repayment plans.

This program model is our foundation as we expand to Tanzania in January 2016.

What drives AEC?

Spending time across the Continent, we have met hundreds of amazing young people who have great ideas and visions for their communities, but who didn’t have access to opportunities present in developed economies. We look to support what these youth have identified as needs in their own communities, rather than AEC bringing our own ideas to the community.

One of our main beliefs is that every problem on the continent already has a solution on the continent. Young people in Africa can create their own future and own businesses, creating their own income and adding to the wealth of their communities. Our job is to help weaken any barriers that may stand in their way.

 What does impact mean to AEC?

On a practical level, our impact is equipping people to have the skills to create jobs for themselves and others. Our target is that within 18 months of working with us, the entrepreneur will have created on average 10 jobs. When you add the multiplier effect, we are looking at long-term, large-scale impact for job creation across the Continent.

On a philosophical level, our impact is holding up our unwavering belief in young African entrepreneurs, so that investors and policy makers around the world see that African entrepreneurs can create the change that is needed on the continent. It’s about helping shift the dialogue so that it’s not only western investors investing in expats in social enterprise but that the young people who have the most to gain in their communities are the ones to direct the impact. We’re there to tell the stories, raise the profiles, and of course invest in young Africans ourselves.

AEC Fellows
Fellows Alberto and Aysha with Inkomoko Staff in Rwanda

Why did you choose to partner with FMS?

This is our first year as a partner with FMS. It’s been such a fantastic experience. We’ve also had the chance to meet with other people in the program and continue to be impressed with the skills and impact FMS fellows achieve. We had two scouts this year, one of which we hired full time, and one of whom we were able to bring back for a second contract with us.

Alberto Rodriguez, AEC Portfolio Manager, has a background with Deutschebank in Madrid and had done some work starting a school in Kenya. He is our portfolio manager for both funds and we have been incredibly impressed with his professionalism and ability to help strengthen our efforts.

Aysha Rajput. AEC Communications Fellow, produced our first annual report, facilitated client testimonials and published our newsletters. She’s now continuing on a consulting project with us to help us fundraise. We loved our fellows and are excited to continue working with them.

What’s on the horizon for AEC?

We’re expanding!  We will be launching in Western Tanzania in January 2016.

Rwanda was a great pilot program and we are so proud of the work we have been able to achieve. With a small population of 12 million, even if we reached everyone, we would still only access a small slice of what is happening on the continent. We are committed to continuing our efforts in Rwanda and as such, are currently hiring a new Managing Director for our Rwanda location. Applications are open now and we hope to find a great fit soon.

Now that we have tested our model in various formats, we want to be able to bring what we are doing to other communities as well.  The relative ease of doing business in Rwanda (low corruption, stable electricity, efficient government systems, etc), also encourages us to stress test our model and see if we can help as much in countries experiencing different complexities.  We want to test the model early enough in our development to see what works and what doesn’t and then advance confidently.  Our goal is 7 countries by 2022.

We’ve had such a beneficial partnership with FMS and we are excited to bring on more fellows in the future. FMS fellows have been incredibly useful in strengthening and supporting our work which is why we’ve been encouraging other organizations to look to FMS for talent. What’s fantastic is that FMS fellows come from a wide variety of backgrounds, and it’s possible to find a fellow to help with anything from photography to financial modeling to due diligence to fundraising.

There is still time to apply for FMS Monterey! Apply now: FMS Application Winter 2016

Follow AEC and Inkomoko on Twitter!

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Fellow Feature: An Interview with FMS Alumna Brittany Lane

Brittany
Brittany Lane          FMS ’15 Alumna                 Editor, Unreasonable Group

 

“I get my mind blown every time, and every single day. I’m learning so fast and so much”

Brittany Lane (FMS ’15) chatted with us recently about her new position as Editor at Unreasonable Group in Boulder, Colorado. We wanted to know more about what makes Unreasonable Group such an inspiring and exciting place to work.  Brittany shared insights about life and launching her purpose-driven career after FMS and graduate school:

Tell us about your new position

I love my job. Unreasonable Group works to drive resources and knowledge to entrepreneurs in emerging markets. I focus on our blog at unreasonable.is and edit everything that comes my way. I also pitch ideas for content and have great conversations with current thought leaders and mentors that are connected to Unreasonable Institute and Unreasonable Group. We are planning to feature more writing from the entrepreneurs who have graduated from Unreasonable Institute as well.

What has been the most exciting part about working with Unreasonable and professional life in the impact space?

For me, the people are the most exciting part. I’ve heard Daniel Epstein and many others at Unreasonable believe that business is really just about people, not the strategy or the marketing, and that holds really true for me. The variety of people who are interested in Unreasonable and have worked with us in the past or that do work with us now is fascinating. These are people from all over the world, and people from all sectors. Having conversations with such bright minds is great. I get my mind blown every time and every single day. I’m learning so fast and so much; it’s really rewarding work.

How are you directly applying some of the skills learned through FMS?

Without FMS and CSIL, I wouldn’t have discovered Unreasonable. I definitely wouldn’t have gotten this position if I hadn’t gone through the program. I highly encourage the training, and FMS Fellows have the opportunity to place with Unreasonable East Africa, which would be awesome.

For me, coming from a policy study background, the most important thing was being introduced to this whole world of responsible investing and social enterprise. It gave me notions of business for good and an introduction to the general ecosystem. Through FMS training, I learned who the key players are in this space, how investment plays into it,   about the lifecycle and different levels of startup. To be able to speak the language of whatever industry you’re in is a really important baseline. Especially for me working with words on the journalism side of things, language is really important. Plus the connections were amazing.

It was the PERFECT introduction and launching point for me. Without the FMS training experience I don’t know what I would be doing right now. I was studying policy but realized traditional development work wasn’t for me. This is a fresh and energetic approach to solving big and seemingly impossible problems.

 

What are you most excited to learn in your current position?

I’m most excited about how I can grow within Unreasonable and position myself as a leader as the company grows. Learning how I can improve in my role and continue to spread the culture of giving is very important to me. I just started and already I’ve learned so much, I’m just excited to see what’s next.

What are your top three recommendations for someone looking to start a purpose-driven career?

  1. Take some time to really know your values because they are your distinct compass
  2. Subscribe, Follow, Share, Tweet as much as you can about this field and its language. It’s ever-evolving and the time is ripe for you to actively participate.
  3. Surround yourself with people who share similar values and see how you can support each other.

Like many of our alumni, Brittany joined FMS looking for a change from her previous field of work and study, and now directly credits her FMS training as the launchpad for her current career path.

If you are looking for a way to launch into the field of social enterprise and impact management, be sure to apply before September 4th at go.miis.edu/fms and start your purpose-driven career.  After all, what are you waiting for?
Follow Brittany: @brittanylane515    |    Follow Unreasonable: @unreasonable   |    Follow FMS @FMScouts