In 2015 Forbes Magazine featured Avnish Gungadurdoss, a 28-year-old Mauritian, together with 29-year old Mike Belinsky, both of whom founded Instiglio, a social enterprise that created innovative social funding instruments. They were both named in the “ 30 under 30 Social Entrepreneurs” in Forbes. The mission of their organization is to increase the efficiency of social programs by raising charitable dollars for results-based “impact bonds.”
The process is: 1) the investor commits funds to a NGO and 2) a foundation or government makes an agreement to pay back the principle with interest when the social program meets its objectives.
Instiglio is a global organization with projects in India, Mexico, Colombia, Chile and Ecuador. Through their various projects they try to reduce the incidence of diabetes, educate girls, increase high school enrollment, and increase job opportunities. In 2014, Instiglio helped 30,000 people and raised $28 million USD.