Pioneers of Prosperity is an awards programme for entrepreneurs in Africa, the Caribbean and Central America that have created wealth and invested in their society. Its aim is to recognise and support today's successful enterprises and inspire the next generation of entrepreneurs, leading to stronger, more sustainable development in these regions. Winning companies receive up to $100,000 to invest in their business.
The stated objective of Pioneers of Prosperity is "to foster greater prosperity in developing countries by influencing the assumptions and behaviors of entrepreneurs, policymakers, academics and business leaders".The program highlights successful models of enterprise-based development, thereby creating a stronger culture of innovation and entrepreneurship. Specifically, the program aims to do the following:
1 - Identify competitive small and medium-size companies that are developing promising business models;
2 - Invest in these firms through award prize money;
3 - Diffuse the ideas, attitudes, and practices that set these firms apart from their peers so they may serve as role models to aspiring entrepreneurs in the region; and
4 - Focus international organizations on the private sector as a means for economic development.
Pioneers of Prosperity is funded by the multilateral development agency Inter-American Development Bank, the private equity firm Legatum, the John Templeton Foundation and the philanthropy Social Equity Venture Fund. It is implemented by the OTF Group, an international economic development consulting firm.