CMEA was originally conceptualized by Citi India, a subsidiary of Citi, in 2003. The award seeks to “recognize and honor exemplary micro entrepreneurs who have overcome economic and social challenges to successfully build self-sustaining micro enterprises” [1]. Since 2003, 77 winners have been awarded approximately INR 10 million (USD 217,000) and approximately 6,000 microentrepreneurs have participated, 48 percent of whom are women [1].
The 2011 CMEA has two categories, the Individual Micro Entrepreneur and the Community Owned Enterprise. Within the Individual category, awards will be given for Youth Entrepreneurs, Green Entrepreneurs and Innovative Enterprises. The winning nominations will be selected from five regions in India: East, North, North East, South and West and Central. The 10 winners will receive a cash prize, will be profiled in the annual Citi Micro Entrepreneur Award publication and will receive trainings in business development from Citi Foundation.
Non-governmental organizations (NGOs), microfinance institutions (MFIs) and other organizations working in the Indian microfinance sector can nominate microentrepreneurs. The application form is available for download at: http://www.microentawards.in/ or by contacting the CMEA secretariat by email at: info@cmea.in or by telephone at: +91 522 2335734 or +91 522 4063773. The final date for applications is July 31, 2011.
By: Alexandra Pattee, Research Associate
About Citi Foundation: The Citi Foundation provides grants and guarantees focusing on the areas of microfinance, small and growing businesses, education, asset building and neighborhood revitalization. Citi Foundation has total assets of USD 65.8 million, USD 12.3 million of which is allocated to 152 total active investments as of 2009. Citi Foundation is the charitable arm of global financial services provider Citi.
Sources and Resources:
[1] Citi Foundation Press Release, “Citi Calls for Applications for 8th Annual Micro Entrepreneur Awards”, http://www.microfinancegateway.org/gm/document-1.9.51285/Citi%20Micro%20Entrepreneur%20Awards%20-%20Press%20Release.pdf
MicroCapital.org Article, December 6, 2010, “Russian Microfinance Center (RMC) and Citi Foundation Open Nominations for Sixth Annual Citi Microentrepreneurship Awards”, https://www.microcapital.org/microcapital-brief-russian-microfinance-center-rmc-and-citi-foundation-open-nominations-for-sixth-annual-citi-microentrepreneurship-awards/
MicroCapital.org Article, January 12, 2010, “KNOW A MICROFINANCE FOUNDATION: Citi Foundation”, https://www.microcapital.org/know-a-microfinance-foundation-citi-foundation/
MicroCapital.org Article, November 21, 2008, “Citi Foundation and Jordan River Foundation Present 2008 Citi Microentrepreneurship Awards, Jordanian Government Pledges $7.1m to Local Microfinance Institutions (MFIs)”, https://www.microcapital.org/microcapital-story-citi-foundation-and-jordan-river-foundation-present-2008-citi-microentrepreneurship-awards-jordanian-government-pledges-71m-to-local-microfinance-institutions-mfis/
MicroCapital’s Microfinance Universe Profile: Citi Foundation, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Citi+Foundation
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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