<figure class="image image-style-align-center"><img src="/uploads/photo_2_3_338a22f9f6.jpg"></figure><h1 style="text-align:center;">Exporting Entrepreneurship and Innovation</h1>I had the honor of speaking on a panel at the <a href="https://www.un.int/kenya/news/2015-global-entrepreneurship-summit-ges-nairobi-kenya-25-26-july-2015">Global Entrepreneurship Summit</a> (GES) in Nairobi, Kenya, July 25 and 26, 2015. The energy in Nairobi was high for several reasons, including, of course, the presence of the President of the United States Barack H. Obama, “a son of Kenya” as the local newspapers like to call him. It was the first time a sitting U.S. president visited the country.More than a thousand entrepreneurs, investors and ecosystem partners from around the world woke up before dawn on Saturday morning and traveled to the United Nations compound in Nairobi to await his arrival. During the hours of waiting inside the auditorium at the compound, I was honored to sit with Lesa Mitchell (<a href="http://instigating.co/">Instigating+co.</a>), Philip Auerswald (author of <a href="http://auerswald.org/">The Coming Prosperity</a>, professor at George Mason University, and co-chair of the <a href="http://www.gern.co/">Global Entrepreneurship Research Network</a>), and Derek White (Chief Design and Digital Officer for <a href="http://www.barclaysaccelerator.com/location-london.html">Barclays Accelerator</a>). Jim Sorensen, the Utah founder of the <a href="http://sgiicenter.com/">SGII Center</a>, and <a href="http://www.coons.senate.gov/">U.S. Senator Christopher Coons</a>, a leader in the Senate Foreign Relations Committee, were close by. What a pleasure it was to engage intellectual thought leaders regarding topics such as the bitcoin and blockchain movements, electronic intellectual property rights, the experience economy, and most importantly, entrepreneurship, as we awaited the founder of the summit, President Obama.<figure class="image image-style-align-center image_resized" style="width:75%;"><img src="/uploads/photo_2_1_1_0_42b94805cd.jpg"></figure>In the days leading up to GES, I also participated in two wonderful events organized in part by <a href="http://www.vilcap.com/">Village Capital</a>: “Pitch for Impact”, hosted by <a href="http://casefoundation.org/">The Case Foundation</a>, SGII Center and the <a href="http://www.doen.nl/web/about-DOEN/About-the-DOEN-Foundation.htm">DOEN Foundation</a>, and “Celebrating Entrepreneurship”, hosted by the Case Foundation and Barclays. Both events provided additional opportunities to experience the entrepreneurship ecosystem in Nairobi, including <a href="http://www.ihub.co.ke/">iHUB</a> and scores of entrepreneurs and other investors (be sure to check out <a href="http://www.barclaysafrica.com/barclaysafrica/Supply-Chain-Challenge">#BarlcaysAfricaChallenge</a>).<figure class="image image-style-align-center image_resized" style="width:75%;"><img src="/uploads/photo_3_1_253c5233ca.jpg"></figure>it was the first time I had participated in GES, and I left Nairobi reinvigorated about America’s role in the world. The President made a commitment six years ago to, in summary, export the American spirit of entrepreneurship and innovation – now this is something I can support! From my world in Addis Ababa, Ethiopia and my travels around the globe, it has become clear to me that promoting entrepreneurship is key for the United States to maintain, and perhaps in some places even regain, our diplomatic relevance. During the past year, President Obama even named several <a href="http://blogs.wsj.com/washwire/2015/05/11/meet-president-obamas-entrepreneurship-ambassadors/">U.S. Ambassadors for Entrepreneurship</a>, including ABC’s Shark Tank favorite, <a href="http://daymondjohn.com/">Daymond John</a>, who I had the pleasure of meeting briefly. Ambassadors for Entrepreneurship - what a great idea!<figure class="image image-style-align-center image_resized" style="width:75%;"><img src="/uploads/photo_4_69bbe8c74d.jpg"></figure>Thanks to some of our partners at <a href="http://www.usaid.gov/">USAID</a>, I was asked to sit on an angel investing and crowdfunding panel. The panel was wonderfully moderated by Michael Ducker of <a href="http://jeaustin.com/about/">J.E. Austin Associates, Inc.</a> It also included Rich Hoops, a quintessential example of an angel investor, Hossam Allam, who leads the <a href="http://www.cairoangels.com/">Cairo Angels</a>, and Cecile Watson, who is pioneering a Caribbean crowdfunding platform called <a href="http://pitchandchoose.com/">Pitch and Choose</a>. It was a great, diverse panel that engaged audience of 80+ entrepreneurs and investors, including Suzanne Biegle of <a href="http://www.clearlysocialangels.com/">Clearly Social Angels</a>, Dan Awendo of <a href="http://www.investeqcapital.com/">Investeq Capital</a>, and Ben White of <a href="https://vc4africa.biz/">VC4Africa</a>.As President Obama instructed in closing the summit, “Go out and start something.” And when you do, persist and persist and persist in your vision until you change the world around you.

Laura Davis attends the 2015 Global Entrepreneurship Summit.

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Exporting Entrepreneurship and Innovation

<h1 style="text-align:center;">RENEW to Participate in the 2015 Global Entrepreneurship Summit</h1>This week, one of RENEW’s founding partners, Laura Davis, will be speaking on a panel on Crowdfunding and Angel Investing at the 6th Annual Global Entrepreneurship Summit (GES). This important event is to be held in Nairobi, Kenya from July 25 to 26. According to the U.S. government, the summit will be a “gathering of entrepreneurs at all stages of business development, business leaders, mentors, and high-level government officials.”*<figure class="image"><img src="/uploads/ges_logo_47154ab1b2.png"></figure>RENEW is excited to be a part of the president’s initiative to generate new investment in entrepreneurs around the world, by not only attending this event, but also by facilitating impact investments in small to medium sized enterprises in Ethiopia. President Obama will be traveling to Ethiopia after the close of the summit, which will mark the first time in U.S. history that a sitting president will have visited the country.Immediately prior to GES, Laura will also be participating in discussions surrounding women and local entrepreneurship alongside Village Capital, Steve and Jean Case of the <a href="http://casefoundation.org/">Case Foundation</a>, and Jim Sorenson of the <a href="http://sgiicenter.com/">SGII Center</a>.

Laura Davis to speak on a panel at the 6th annual gathering in Nairobi, Kenya.

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RENEW to Participate in the 2015 Global Entrepreneurship Summit

<h1 style="text-align:center;">Impact Angel Network Joins the Angel Capital Association</h1>RENEW is proud to announce that the Impact Angel Network recently became a member of the Angel Capital Association (ACA), the "largest angel professional development organization in the world."*<figure class="image"><img src="/uploads/acamemberlogo_forweb_1_0_6b71dcafa6.jpg"></figure>According to information provided by the group, <a href="http://www.angelcapitalassociation.org/">ACA</a> is a trade association focused on fueling the success of accredited angel investors and portfolio companies in high-growth, early-stage ventures. ACA acts as a voice in the angel industry, providing comprehensive services in support of members working in angel groups. ACA provides professional development, public policy advocacy and significant benefits and resources to its membership of more than 12,000 individual accredited investors in 220 angel groups and platforms.As part of our membership with ACA, the Impact Angel Network is also now rolling out its new investment pipeline management tool through Gust, “a global SaaS funding platform for the sourcing and management of early-stage investments.”** This online platform gives savvy entrepreneurs the ability to collaborate with informed individual investors and angel investor networks by “virtually supporting all aspects of the investment relationship, from initial pitch to successful exit.”It is our belief that these new platforms will provide even more unforgettable experiences for members of the Impact Angel Network and allow RENEW to better focus on our mission – to grow companies, help build nations and leave important legacies.

The largest angel professional development organization in the world.

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Impact Angel Network Joins the Angel Capital Association

<h1 style="text-align:center;">Looking Through A New Lens</h1>RENEW believes Ethiopia and other developing economies are rife with opportunity for investment. Early adopters on both small and large scales agree – and have already <a href="http://www.wsj.com/articles/rock-star-bob-geldof-spearheads-u-s-private-equity-push-into-ethiopia-1427706330">acted on</a> these beliefs by investing in these budding economies. RENEW and the Impact Angel Network just made their fourth investment since opening RENEW’s Ethiopia office in 2013, and are set to close another investment soon.Despite this upward trajectory of investing in developing economies, many investors are still squeamish when they hear ‘Africa’ and ‘investment’ in the same sentence. While investing in frontier markets can be a challenging endeavor, with potential risks of inflation, currency depreciation, political instability, natural disasters and other uncertainties associated with developing countries, the social impact and opportunities to create financial returns are great.So how can impact investment advisory firms help Western investors to see Africa as a land of opportunity and to become comfortable with investing in frontier markets?THE SOLUTIONRENEW strives to provide the members of the Impact Angel Network an unforgettable investment experience. In order to achieve this goal and address the very real challenges that investing in developing countries bring, RENEW's team provides full on-the-ground support to investors looking to invest in frontier markets, but who typically do not have the local presence to source, conduct due diligence and monitor their investments on their own. The majority of RENEW’s team works in our Addis Ababa office in Ethiopia, full-time, to maintain a presence on-the-ground. We believe this component is crucial to the success of investments in frontier economies.<figure class="image"><img src="/uploads/econ_tourism_2015_overview_solution_collage_ebe839ff1f.jpg"></figure>RENEW tailors the investment experience to our members' specific needs. Investors are encouraged to travel to Ethiopia and participate in an Econ-Tourism trip, during which they can meet with entrepreneurs, tour their facilities and see the current state of the businesses first-hand. This experience provides investors with the chance to gain a better understanding of the economic and investment environment in Ethiopia. This in turn allows our members to invest with confidence, knowing that RENEW is selecting high-growth potential companies, properly vetting the entrepreneurs and managing all investments post-closing.THE OUTCOMEInvestors are usually surprised to see so much development, growth and opportunity in Ethiopia. They notice signs of a rising middle class and are encouraged by the wonderful people they meet who want to work and build their country into an economic powerhouse. Our investors see first-hand the desires of Ethiopians to work and partner with U.S. investors, and the wide range of sectors in which to invest, from manual labor to technology.<figure class="image"><img src="/uploads/econ_tourism_2015_overview_outcomes_collage_0_d2c06f0b5f.jpg"></figure>As Econ-Tourism trip participants speak with Ethiopian entrepreneurs, they often comment about the positive attitudes and drive of the management teams they meet, the signs pointing to growth in the agriculture, healthcare, energy, and technology sectors, and the work of the companies to improve the lives of employees. &nbsp;

How impact investment advisory firms can change the way Western investors see Africa.

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Looking Through A New Lens

<h1 style="text-align:center;">Why Are Angel Investors Important?</h1>On June 30th, RENEW provided a private equity training for the World Bank’s Ethiopia Climate Innovation Center (ECIC), an initiative that “supports Ethiopian small and medium enterprises (SMEs) that are developing innovative solutions to address climate change challenges”. The training provided an introduction to private equity, with the goal of familiarizing ECIC entrepreneurs with equity mechanisms for raising funds.<figure class="image"><img src="/uploads/img_1970_e405ad70c7.jpg"></figure>One such mechanism is through angel investing. Private equity angel investors (like members of RENEW’s <a href="https://www.renewcapital.com/investing">Impact Angel Network</a>) provide SMEs much-needed access to investment capital and business expertise, as well as access to new markets and foreign partners. This in turn allows companies to scale at a much faster rate than they would be able to do on their own. And while changes to the structure and management of the company are to be expected (such as the implementation of an advisory board), the relationship aims to ultimately provide long-term growth potential and stability to the company.Overall, the training was a success with around 20 entrepreneurs in attendance. At the end of the training, participants came away with a better understanding of private equity, why it is important for entrepreneurs who are looking to expand their company’s operations, and the essential role of angel investors.If you are interested in additional information about RENEW or an upcoming private equity training, please contact us at <a href="mailto:renew@renewcapital.com">renew@renewcapital.com</a> to learn more.

RENEW provides private equity training in Ethiopia to discuss.

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Why Are Angel Investors Important?

<h1 style="text-align:center;">The Next Big Thing in Gluten-Free Foods</h1> The world is catching on: CNN recently highlighted <a href="http://www.mama-fresh.com/">Mama Fresh</a>, one of RENEW’s portfolio companies, during it’s weekly show Inside Africa. According to <a href="http://www.cnn.com/2015/05/01/travel/why-your-next-food-porn-will-come-from-ethiopia/">CNN</a>, this show “highlights the true diversity of the continent as seen through the prism of different cultures and religions and the mediums of art, music, travel and literature.”* It comes as no surprise then that Inside Africa, and its host, Soni Methu, highlighted Ethiopia’s rich and flavorful cuisine, with one of the focal points of the episode being teff - an ancient, nutrient-rich and gluten-free grain native to Ethiopia.Teff can be eaten in a variety of ways, including being used as the main ingredient in an Ethiopian staple bread product, injera. To make injera, teff grain is first ground into flour, then combined with water, allowed to ferment over several days, and finally baked into a spongy, unique and sourdough-like flatbread that is enjoyed with other meats and spices at every meal.Mama Fresh is the country’s largest commercial manufacturer and exporter of fresh-baked injera. Hailu Tessema, the founder and owner of Mama Fresh, is profiled in the episode (click on the photo below and jump to one minute, four seconds to see the segment on Mama Fresh) explaining the process of making injera at a commercial level, and the unique spin that Mama Fresh has given this classic Ethiopian food.<figure class="image"><a href="http://www.cnn.com/2015/05/01/travel/why-your-next-food-porn-will-come-from-ethiopia/"><img src="/uploads/blog_11d60d4684.png"></a></figure><a href="http://www.cnn.com/2015/05/01/travel/why-your-next-food-porn-will-come-from-ethiopia/">Story By Colin Hancock and Daisy Carrington, for CNN</a> &nbsp;

How teff and Mama Fresh are contributing to the latest food craze.

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The Next Big Thing in Gluten-Free Foods

<h1 style="text-align:center;">RENEW Featured in the Washington Post</h1>The <a href="http://www.washingtonpost.com/business/economy/physicist-turned-businessman-seeks-opportunities-in-sub-saharan-africa/2015/05/03/53c3de08-f03f-11e4-8abc-d6aa3bad79dd_story.html">Washington Post</a> highlighted RENEW LLC and the compelling story of its founders Matthew and Laura Davis. The Post's Thomas Heath wrote about three of the Impact Angel Network's investments which RENEW facilitated as part of our strategy to promote thriving businesses, create jobs, grow Ethiopia's economy and generate financial returns for investors. "This is Capitalism 101" [Matt] says. "If you do it well, you can lift yourself out of poverty."<figure class="image"><a href="http://www.washingtonpost.com/business/economy/physicist-turned-businessman-seeks-opportunities-in-sub-saharan-africa/2015/05/03/53c3de08-f03f-11e4-8abc-d6aa3bad79dd_story.html"><img src="/uploads/blog_2_0f8f02d7e0.png"></a></figure>(Photo Credit: Ricky Carioti/The Washington Post)

The Washington Post highlights RENEW LLC and the compelling story of its founding.

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RENEW Featured in the Washington Post

<h1 style="text-align:center;">An Evening of Stories and Impact</h1>This past Friday evening, members of the Impact Angel Network (IAN) and distinguished guests met at the Cosmos Club in Washington, D.C. for their first annual National Gathering.<figure class="image"><img src="/uploads/img_7051_e33990fe28.jpg"></figure>The event started with guests mingling and enjoying cocktails in the West Garden. Members then moved into the Cosmos Club's Powell Room to hear the former Director of the CIA,&nbsp;<figure class="image"><img src="/uploads/img_7382_0_0644dbdea7.jpg"></figure>and now Chair of KKR's Global Institute, General (ret.) David H. Petraeus, share stories and insights on leadership, investing, Africa and Ethiopia. The evening continued as members gave toasts and shared stories throughout dinner of their Econ-Tourism trips and their investments in Ethiopia. The night concluded with Aman Adinew, CEO of <a href="http://metadplc.com/">METAD</a> , sharing how his specialty coffee farm created 500 jobs in 2014, positively impacted the local community and is on course to quadruple in size this year.Members of the IAN met the next morning for a breakfast to discuss multi-generational and legacy investing, and the next evening at the residence of the IAN's Washington D.C. chapter chair - <a href="http://renewcapital.com/impact-angel-network/chapters">Dr. Andrew Umhau</a>, to discuss updates on the portfolio and upcoming investment opportunities.The RENEW team would like to thank General Petraeus, Ambassador Tebege Berhe, and the IAN chapter chairs, Dr. Andrew Umhau, Jeff and Donna Turi, and Alan Gardner, and the staff of the Cosmos Club for helping deliver an unforgettable event. We also thank the members of the IAN and their families for coming to D.C. for a memorable spring weekend.If you are interested in learning more about RENEW, please contact Kathleen DeLaHoussaye at <a href="kdelahoussaye%40renewstrategies.html">kdelahoussaye@renewcapital.com</a>.

Impact Angel Network members came together in Washington D.C. for the first annual National Gathering.

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An Evening of Stories and Impact

<h1 style="text-align:center;">3 Reasons It's Time for Angel Investors to Go Global</h1>Times are changing - Markets around the world are opening up, technology is shrinking 3,000 miles to 30 miles, and angel investing is the new "VC". At RENEW, we think it's time for U.S. angel investors to start going global. Here's why:<figure class="image"><img src="/uploads/renew_banners_connect_grow_1_2296e046e9.jpg"></figure>1. The risk return profile of frontier markets is changing. Small, mid-size and large companies across sub-Saharan Africa are sprouting up to meet growing domestic and international demand. Per the IMF, “the same crucial developments that presaged the arrival of institutional financial investors in emerging markets in the 1980s are taking place in parts of sub-Saharan Africa today—growth is taking off, the private sector is the key driver of that growth.”* Local companies are starved for capital as their financial markets scramble to keep up. This presents a good opportunity for investors to enter into regions where valuations are low. Still, investors must be very cautious. Do your due diligence, partner with people you trust, and know what you are getting into. This is the Wild West.2. Thankfully, frontier markets like Ethiopia, Kenya and Rwanda are more accessible through Western firms that have offices in these countries. Whether it is large institutional players or boutique investment firms, Western investors can find investment professionals working out of offices in Addis Ababa, Nairobi and Accra. In Ethiopia, where RENEW has an office, we offer our angel investors a full, turnkey, in-country investment service. This is encouraging news for investors since “sub-Saharan Africa is expected to continue being the second fastest growing region in the world” with growth rates at around 5% in 2014, and expected rates at 5.75% for 2015.**3. You receive two returns. When you invest in an ethically run company a frontier market, you have the chance of making both a financial return and significant social returns. You can receive the same in developed markets, but the dollar does go a lot farther in countries where wages are low. Last year, RENEW's angels created over 500 jobs. Their investments also help stabilize the economy by generating taxes to offset foreign aid, and bring in hard currency to help stabilize inflation.So, when you find yourself looking for that next big thing or an exciting venture to take on, consider joining the ranks of rock stars like <a href="http://blogs.wsj.com/briefly/2015/03/30/why-private-equity-is-moving-into-ethiopia-at-a-glance/">Bob Geldof</a> and war heroes like <a href="http://media.kkr.com/media/media_releasedetail.cfm?ReleaseID=852684">David Petraeus</a>, and invest in frontier markets like Ethiopia.We welcome U.S. angels to participate in the discussion on angels going global at our May 1 National Gathering in Washington, D.C. Please contact a RENEW team member at <a href="mailto:renew@renewcapital.com">renew@renewcapital.com</a> to find out more.

At RENEW, we think it's time for U.S. angel investors to think about going global...