Investours
Investours is an organization that combines microfinance and educational tourism.
It is a non-profit organization with operations in Mexico and Tanzania. Investours "educates and mobilizes travelers and micro-entrepreneurs across the world to reshape educational tourism and the global fight against poverty."
How IT Works
Investours runs "microfinance tours" that allow socially conscious travelers to visit and understand life in poor communities while investing in their development.
A small group of tourists travels to the communities with Investours staff. During the trip (usually an afternoon), they meet entrepreneurs or small groups of entrepreneurs who are seeking small loans to start up or improve their businesses. These business projects might include people who operate small food stands, woodcarvers, dressmakers and fishermen, among others. The local entrepreneurs engage with the tourists AbOUT their businesses, the challenges they face and why they need a loan. At the end of the trip, the tourists gather to discuss the tour and entrepreneurs over a traditionally prepared local meal, and they choose one entrepreneur to receive an interest-free micro-loan funded by the group’s tour fees. Entrepreneurs not selected will have the opportunity to participate again and are guaranteed a loan after three tours. After the "investour", tourists (now tour alumni) track loan progress online and can continue supporting the entrepreneurs, communities, and partners.
History
In 2008, inspired by Trip Sweeney’s idea that “microfinance tours” could serve as an effective alternative to slum tours, Ashwin Kaja traveled to Oaxaca, Mexico to conduct research on the topic. In Mexico, he developed a unique model for microfinance tourism that serves as the core of the Investours program today.
In Oaxaca, Ashwin introduced the idea for Investours to Carlos Topete, the director of a Spanish language institute in the city, who was excited by its potential. Ashwin and Carlos worked together to establish a pilot program to test the idea, and so Investours was born. Over the next two years, the Investours pilot program ran dozens of tours with hundreds of tourists that provided interest-free micro-loans to over 120 entrepreneurs. This was made possible by a number of people, including David Kim, Lain Heringman, Emily Berens, and Kurt Mansperger. The pilot program was completed in early 2010 (Carlos Topete left the Investours team in February 2010 and is now continuing to support the businesses of participants in the Investours pilot program as well as new entrepreneurs in the Oaxaca area through a new organization called Fundación En Vía.)
Formally incorporated as a non-profit organization in the United States in May 2010 (assisted by the Harvard Law School Transactional Law Clinics), Investours is now focusing on scaling its powerful microfinance tourism model around the world, establishing partnerships with microfinance institutions focused on poverty reduction. Anna Ruman and Ryan Pukos launched an Investours program in Puerto Vallarta, Mexico, in partnership with Se Mas Microfinanzas. Katie Ranhorn and Heshan Illangkoon are developing a program in Dar es Salaam, Tanzania, in partnership with Maisha Finance. Current directors of this Dar program include Christina Klecker and Peter Millanga.
Publicity
In addition to coverage of the Oaxaca pilot program, Investours has been featured in El Sayulero (a local media outlet); INNOTOUR (a educational resource on tourism sponsored by the University of Southern Denmark); myKRO (a microfinance blog); and What’s Happening in Dar (a local publication).
See also
- Social entrepreneurship
- Microfinance