24 Sep Wedu announces its commitment at the Clinton Global Initiative Annual Meeting
NEW YORK CITY, NY– September 24, 2014 – Wedu excitedly announced its commitment to be part of a movement to create global change. As part of the annual Clinton Global Initiative (CGI), Wedu commits to unlocking the leadership potential of 1,000 female Rising Stars in Asia over the next four years by providing inspirational lifelong mentorship and innovative financing options to achieve higher education.
Founded in 2012, Wedu has grown from 1 Rising Star to 63 and counting. In order to reach the 1,000 target, Wedu seeks partnerships with corporations globally to engage employees to be part of the online mentorship program which provides mentors with a unique opportunity to grow as leaders as well. A second part of the commitment is Wedu’s financing model which is based on Future Income Sharing Agreements (FISAs). A Rising Star receives funding to complete her education and repayment will be a fraction of her future income. This scheme provides women with access to affordable and flexible financing to pursue tertiary education.
In attendance, Jacqueline Novogratz, CEO of Acumen said that Wedu “is full of hope, richness and femininity in a world that needs strong women to emerge and Wedu is only just getting started. The model is not only beautiful but how Wedu operates is wonderful to watch.” The first two other CGI Members partnering with Wedu in this important commitment are Acumen and Kiva. More partners are expected to join the commitment in the coming months.
Commitments made by members of the Clinton Global Initiative have impacted over 430 million lives in 180 countries and when fully funded and implemented commitments will be valued at 103 billion. Wedu is now part of a tribe of leaders devoted to implementing innovative solutions to the world’s most leading challenges.Mario Ferro, co-founder and CEO of Wedu shared “we are honored to have been selected to be part of such an incredible network of change-makers. We value the support CGI has provided Wedu and look forward to achieving our commitment and being part of future commitments to develop female leaders.”
Founded in 2012, Wedu is a multi-award winning social enterprise, pioneering the applications of mentorship for leadership development in South East Asia. We focus on women as it yields higher developmental impact that leads to large scale social change. Wedu envisions a world where people from the most underprivileged backgrounds have the tools to change their lives and the society of their home country by being masters of their own development. Our missionis to unlock the leadership potential of young women in developing countries into local leaders by providing inspiring mentorship and innovative financing for them to complete university. For more information visit www.wedufund.org and follow us on Twitter @wedufund and Facebook at facebook.com/wedufund.
About the Clinton Global Initiative
Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI), an initiative of the Clinton Foundation, convenes global leaders to create and implement solutions to the world’s most pressing challenges. CGI Annual Meetings have brought together more than 180 heads of state, 20 Nobel Prize laureates, and hundreds of leading CEOs, heads of foundations and NGOs, major philanthropists, and members of the media. To date, members of the CGI community have made more than 2,900 commitments, which are already improving the lives of more than 430 million people in over 180 countries. CGI also convenes CGI America, a meeting focused on collaborative solutions to economic recovery in the United States, and CGI University (CGI U), which brings together undergraduate and graduate students to address pressing challenges in their community or around the world. For more information, visit clintonglobalinitiative.org and follow us on Twitter @ClintonGlobal and Facebook at facebook.com/clintonglobalinitiative.
Media inquiries can be directed to:
Mario Ferro, co-founder & CEO