Co-Creation Model: Tell us about your main strategic partners and how the partnership truly create value. For each Partner please include its type (business/social/public), its name, a short description, its key motivation to participate in the co-creation project, and the key contributions it is making in the co-creation project. Please follow the format displayed below:
Partner: Citi Foundation
Short description sentence [Max 25 words/partner]: Citi Foundation promotes economic progress and financial inclusion. Our investment strategy involves enterprise development—to increase the number of small and microenterprises that provide new income generation or employment opportunities for low-income individuals.
Key motivation to participate in the co-creation project [Max 35 words/partner]:
In our partnership with NESsT, Citi Foundation supports employment generation through social enterprise development. We provide financial support, and Citi employees mentor social enterprises and evaluate business plans.
Key contributions in the co-creation project [Max 35 words/partner]: Since 2007, the Citi Foundation has supported 13 NESsT programs with substantial grants, an executive on NESsT’s Business Advisory Network, skills-based volunteer work from 89 Citi employees, and wider exposure for NESsT in CEE.
Short description: NESsT develops sustainable social enterprises that solve critical social problems in emerging market economies. Since 1997, NESsT has trained 5,000 social enterprises in over 40 countries and invested about US$8 million in social enterprises.
Key motivation: NESsT’s mission is to develop sustainable social enterprises, which often lack financial capital, business experience, and skills. Together with its business partners, NESsT aims to leverage capital and transfer business expertise.
Key contributions: NESsT has more than 16 years of experience in social enterprise development and a proven development methodology for planning, incubating, and scaling sustainable social enterprises.