Which awards have elea portfolio companies been honored with?
elea invests in enterprises that are at the forefront of their respective fields and push social innovation. This has also been externally acknowledged: In recent years, several of elea’s partner organizations and their entrepreneurs have gained recognition for their work and won prestigious awards.
Lesley Marincola of Angaza wins the 2018 Skoll Award
In 2018 Angaza’s Founder and CEO, Lesley Marincola, became a Skoll Awardee. She received the award for ideating and implementing Angaza’s innovative and market-driven approach to poverty alleviation. The Skoll Award entails a prize money of USD 1.25 million. Since its first investment in 2013, elea has been supporting Angaza in its strategic development.
The Skoll Awards are presented by the Skoll Foundation, an institution globally known for advancing the field of social entrepreneurship. The award is given only to a select group of entrepreneurs chosen from hundreds of candidates around the world as a recognition for their entrepreneurial approach to impact creation.
Lesley Marincola at the Skoll Award ceremony in Oxford
Angaza developed an innovative Pay-As-You-Go (PAYG) technology that allows to reduce the upfront costs of electronic devices, such as solar lamps. Beneficiaries buy a product for as little as USD 5 and pay back the remaining amount through regular instalments using the PAYG technology and thereby keeping the lights on. Angaza’s solution enables communication between small devices and the mobile network operator, as well as provides a management platform for distribution partners.
Angaza has facilitated access to solar energy products for over 1’000’000 households across more than 30 countries. For distributors, working with Angaza has led to a two- to four-fold increase in unit sales and as much as an eight-fold increase in revenue.
As a result, Angaza manages to provide a gateway to broader financial inclusion for the more than one billion people living off-grid. Consumers benefit from a reduction of their expenses for fuel – saving Angaza's costumers up-to-date in excess of USD 100 million, from improved health condition, as well as from more favorable circumstances for income generating activities.
Activating a Pay-As-You-Go solar lamp
Zhihan Lee of BagoSphere as Ashoka Fellow
In 2017 Zhihan Lee, Co-Founder and CEO of BagoSphere, was recognized as an Ashoka Fellow. BagoSphere aims to redefine how young people are preparing for their future by creating a program that equips out-of-school youth with the skills to withstand a volatile job market. By providing access to meaningful careers, BagoSphere helps youths from low-income backgrounds to transform their lives. Since its first investment in 2015, elea has been supporting BagoSphere in making this vision a reality.
The Ashoka Fellowship is the world’s largest network of social entrepreneurs. To be admitted, applicants must have an idea that will change the pattern of their field and must possess the entrepreneurial skills and drive to push their vision forward. After a rigorous selection process, applicants are introduced to a life-long fellowship.
Zhihan Lee at the Ashoka Fellowship induction in Manila
BagoSphere’s training approach
BagoSphere offers its trainees in the Philippines financially accessible professional and personal development courses that subsequently allow them to take up a job in the service sector, such as the country’s fast-growing call-center industry.
Graduates typically increase their monthly income three to five-fold. In order to do so, BagoSphere also provides funding support, for example by connecting students with Microfinance Institutions to allow them to pay for the tuition fee up-front and repay over a period of 12–18 months once employed.
As of 2018, BagoSphere has graduated over 1’000 students, with more than 8 out of 10 getting hired within 3 months of graduation.
Call-center training at BagoSphere in Bacolod
Other selected awards of elea's portfolio companies
- Dharma Life, Gaurav Mehta
Young Global Leader (World Economic Forum) 2018
elea investee since 2015
- Amazi, Divya Vasant
Zanele Mbeki Fellowship, 2018
elea investee since 2017
- Coffee Circle, Martin Elwert
Ernst & Young Public Value Award, 2017
elea investee since 2013
- awamo, Benedikt Kramer, Philipp Neub, Roland Claussen
FinTech Germany Award, 2017
elea investee since 2017