Entrepreneurial Philanthropy in the Developing World
Traditional philanthropists look for babies to feed, children to educate, and wounds to heal. Many have done tremendous, quantifiable good. By definition, their investments are not for profit. Indeed, the farther philanthropic endeavor is from the grubby details of wealth creation, the closer it hews to the canonical image of the selfless helper. Accordingly, philanthropists and establishment foundations have historically eschewed nurturing local for-profit companies and improving the investment climate in developing countries. Increasingly, however, private philanthropists are on the cutting edge of development practice. A new class of “entrepreneurial philanthropists” is redefining what counts as philanthropy.