Revisiting the 2014 Acumen Peak: Lessons From a Momentous Year
The year 2014 was a defining moment for Acumen, the global non-profit venture fund that invests in companies, leaders and ideas that tackle poverty. It was the year when Acumen successfully scaled its impact investing model in four key areas: energy, health, agriculture and education. As we continue to face global challenges that have only been amplified by the Covid-19 pandemic, it is worth revisiting the lessons from that momentous year and exploring how they can inform our strategies for the future.
The Importance of Energy Access
One of the key areas where Acumen made significant strides in 2014 was in energy access. The organization invested in companies like d.light and Off.Grid:Electric, which have since gone on to bring clean and affordable energy to millions of people in off-grid communities across Africa, Asia and Latin America. The impact of this investment has been far reaching, from improving health outcomes by reducing indoor air pollution to enabling entrepreneurs to start and grow businesses.
The lesson here is that investing in energy access is not just a moral imperative, but it also creates numerous opportunities for economic growth. According to the International Energy Agency, achieving universal energy access by 2030 could generate up to $4 trillion in additional economic output in developing countries.
The Power of Patience
Acumen’s success in 2014 wasn’t just about identifying and investing in promising companies; it was also about having patience and resilience in the face of challenges. As Jacqueline Novogratz, Acumen’s founder and CEO, wrote in a blog post at the time: “when times are tough, we double down on our values, on our entrepreneurs, and on each other.”
One example of this patience paying off was with Acumen’s investment in Ziqitza Health Care Limited (ZHL), which provides emergency medical services in India. ZHL faced numerous setbacks in the early years of Acumen’s investment, including corruption allegations and state government resistance. But the company was eventually able to weather these challenges and expand its operations, becoming one of India’s leading emergency medical services providers.
The lesson here is that impact investing requires a long-term view, and that we must be willing to stick with our investments even when the going gets tough.
The Importance of Collaboration
Another key takeaway from Acumen’s success in 2014 was the importance of collaboration. The organization worked closely with numerous partners, from other foundations and impact investors to governments and local communities. By working together, Acumen was able to leverage its resources and expertise, and achieve impact that was greater than any one organization could have achieved alone.
One example of this collaboration was Acumen’s partnership with the Skoll Foundation and the Rockefeller Foundation, which led to the launch of the Impact Challenge. This initiative aimed to identify and support innovative solutions to the world’s most pressing social and environmental problems. The Impact Challenge has since supported more than 60 organizations, providing them with funding, mentorship, and access to a global network of supporters.
The lesson here is that impact investing requires a collaborative approach, and that we must work together if we want to create lasting solutions to global poverty and inequality.
Conclusion
In 2014, Acumen showed us what is possible when we combine vision, patience, and collaboration. The organization’s success in scaling its impact investing model in energy, health, agriculture, and education has created lasting change in numerous communities around the world. As we continue to face global challenges that require bold and innovative solutions, we can look to Acumen’s example and apply these lessons to our own work. By investing in energy access, having patience and resilience in the face of challenges, and working collaboratively with others, we can create a better world for us all.
