CAPs Friday 12/2/10

Read what Michael tells you about his CAP:

Student Microfinance & Development Initiative

The organization is an innovative student think-tank for development solutions. As such, the aims of the institution are outlined below:

Firstly, it gives students the opportunity to partner with microfinance institutions (MFIs) and other organizations, building long-term, mutually-beneficial relationships. While SMDI performs research projects mandated according to the needs of the particular MFI, NGO or academic entity, the institution simultaneously attempts to create opportunities for students to intern.

Secondly, SMDI stresses the importance of microfinance, social business and enterprise on campuses worldwide.

In parallel with the first objective, we have partnered with NGOs and MFIs worldwide, including SHIVIA, Grameen Bank, and others and have developed focused research projects. A project with the London MFI SHIVIA, for instance, analyzes the effects of the financial crisis on the microfinance sector, particularly in India and Nepal.

In the context of its second objective, SMDI has developed a 6-week course in partnership within the Management Department at the LSE on Social Business Innovation at the bottom of the pyramid. In parallel to this workshop, an online platform has been set up. These two components are interdependent in that they are both based on an active network of different parties in the social business and microfinance space. These parties include NGO’s, student organizations, MFIs, corporations (e.g. BT and vodafone) and public institutions. Both, the workshops and the online platform, aim to promote best-practices through the pooling of knowledge and active interaction. Lastly, SMDI plans to launch one of the most important student-led development conferences in London next year.

Microfinance and development in general have the potential to help thousands of farmers and micro-entrepreneurs (as it already has through the Grameen Bank). However, the initiators of this project feel it is highly fragmented and needs more consolidation in terms of unified business principles and cooperation between different parties studying the field, as well as within the MFIs themselves.

With the support of the British Council and other sponsors, we are now in the process of being registered as a formal non-charitable organisation in the United Kingdom.  This means that we will be able to further expand and enlarge – both in terms of our vision and our achievement.

I encourage you to find out more on our website www.smdi.org.uk which is constantly updated and thus reflects the most recent happenings of our organisation.

Cheers.
Michael Lok