In short…
Encite Capital exists to enable prosperity through entrepreneurship. We achieve this by supporting small and growing businesses (SGBs) in developing countries with financing, consulting, and mentoring. We
will begin our work this year in Haiti and the Dominican Republic.
Why small and growing businesses?
After a collective 12+ years of experience living in Haiti and the DR among Encite’s co-founders, we believe: (1) One of the most impactful changes in a person’s life is the opportunity for good and steady
income, (2) There are too many talented and driven small business entrepreneurs constrained by the lack of access to resources, and (3) If those constraints were removed, these small businesses would grow, create jobs, and unlock human potential in an efficient
and sustainable way.
SGBs are recognized to be key sources of job creation and are indispensable to the formation of a strong middle class. As compared to micro-enterprises, SGBs can produce large-scale change, creating opportunity
for entire communities, regions, and countries.
What can be done?
There are 3 key challenges facing small and growing businesses:
(1) Financial capital - Too large for microfinance and too small for traditional banks, small businesses in developing countries face major shortages in access to financing. For example, in Haiti, just 20%
of small and medium-sized businesses have ever received loans from a bank.
(2) Managerial capital - Hampered by inadequate local education systems, business growth is limited by the lack of technical know-how. When provided, consulting services have been shown to have a huge impact
on business growth.
(3) Social capital - Running a business is much more than technical know-how. Having good networks and support in the business community matters, and mentors can help growing entrepreneurs overcome the many
challenges of a growing business.
Encite Capital will meet each of those barriers directly. We will partner with underserved entrepreneurs, provide them financing; couple that with consulting services; and match these entrepreneurs to successful
on-the-ground and diaspora mentors.
Who we are and why we are doing this…
The three co-founders came together around a common set of values and a shared belief in the power of entrepreneurship. We are driven by the belief in human potential and the desire to see it realized. Some
brief notes on Encite's three co-founders:
Claire Pierre
- Born and raised in Haiti, Claire has been very active in Haiti both before and after the earthquake. She has worked across sectors, with the government, donors, and private sector, playing key roles in initiatives such as the UN Special Envoy with Bill Clinton,
the Interim Haiti Recovery Commission, and Haiti’s Global Investors’ Conference. A summa cum laude graduate of Howard University’s BS-MD program, Claire is also a program director at Harvard Medical School.
Kaveh Azimi - Kaveh has extensive background in small business development in Haiti and the DR. For two years, he directed a program in Haiti’s largest microfinance institution, Fonkoze.
Prior to that, Kaveh served for two years as a Peace Corps Volunteer in the Dominican Republic, training micro-entrepreneurs. He also has done several consulting and short-term engagements in small business development. He has degrees from UC Davis in Economics
and International Relations, and most recently earned a Master in Public Policy at Harvard Kennedy School.
Aaron Arnoldy - Aaron lived and worked in the Dominican Republic for five years, first as a Peace Corps Volunteer focused on community economic development. Later, he managed the sustainable
development programs of a nonprofit, Fundación Tropicalia. Most recently, Aaron worked with Ashoka to launch social enterprise initiatives in Haiti. Aaron has an undergraduate degree in Banking & Finance from the University of Missouri, and will graduate with
a Master in Public Policy from Harvard Kennedy School in May 2013.
