LoftyInc's Exec Partner Joins World Bank Open Forum 2010

This year, the World Bank is organizing a two-and-half-day virtual Open Forum during the Bank-Fund Annual Meetings. The goal is to open the meetings up to the general public and to spark discussion and interaction on the development agenda. 


As part of the Jumpstarting Jobs online discussion the forum will be focusing on youth unemployment and the real need to invest in youth. In 2009, 81 million young people were unemployed, the most ever. The youth unemployment rate is about 5 times that of adults in many countries. What needs to change to engage young people in the world economy and avoid a "lost generation?"

Speaking specifically to the question of youth unemployment and using innovation and entrepreneurship to tackle such in Session 2 of Day 1  is LoftyInc's Executive Partner, Michael Oluwagbemi who joined the forum via a pre-recorded Skype conversation on October 7, 2010. The forum continues for a second day. Hosted by Femi Oke, formerly of CNN and now of Public Radio International, scheduled guests are:


Tamar Manuelyan Atinc 
Vice President, Human Development Network, World Bank

Janamitra Devan
Vice President, Financial and Private Sector Development, World Bank

Shantayanan Devarajan
Chief Economist, Africa region, World Bank

Rebeca Moreno Jimenez
Public Information Assistant, Latin America and Caribbean region, World Bank

Christian H.M. Ketels
Director of the Competitiveness Institute, Harvard University

Riska Mirzalina
Youth Entrepreneur, Indonesia

Mahmoud Mohieldin
Managing Director World Bank and former Minister of Investment, Egypt

Radha Muthiah
Vice President for Strategic Partnerships & Alliances, CARE USA

Michael Oluwagbemi
Youth Entrepreneur, World Bank Youthink! blogger

Stephen Pursey
Senior Policy Advisor, International Labour Organisation

Kyle Taylor
Youth Entrepreneur

LoftyInc Headlines at Social Impact Investment Summit hosted by MIIS @ Monterey, CA

LoftyInc Partner, Damilola Agboola was among members of the investment, educational and social development community that featured at an event designed to obtain commitments from silicon valley investors to a new social impact investment model. The theme of the summit was: "What It Takes:  Enterprise Development through Social Impact Investment".

Partner, Dami Agboola discusses the model at the event

The one day event was held at the McCone Boardroom on September 24 2010, of the Monterey Institute of International Studies; after an evening reception, held the previous evening at the Santa Barbara Room at the Monterey Marriott Hotel, CA. 

The purpose of the one day event according to the organizers, was to "engage key stakeholders and potential investors in a substantive discussion regarding enterprise development opportunities in low-income countries, with a particular emphasis on formation of an investment facility and its linkages with a complementary education facility for base-of-the-pyramid entrepreneurial development."

LoftyInc Partner, Damilola Agboola made a brief presentation to attendees focusing on the unique high impact business incubation model of LoftyInc Allied Partners Limited. He proposed for the model to be replicated under the auspices of a global program targeting five high growth economic regions; Nigeria, Philippines, India, China and yet to be determined East African country. While competing models were presented to summit attendees, the LoftyInc model was warmly received and plans are already under way to support the extensive roll out program in Nigeria next spring under the Innovation Incubation Initiative (I-3). 

Cross-Section of Summit Attendees

Significant dollar commitments were also obtained from summit attendees (which came from industry, social impact investment community and development agencies) towards supporting a cluster of educational institutions, business incubators and eventually an independently managed fund to support this global program.

More Pictures from the Event


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