IDE (International Development Enterprises) is a non-profit my friend Barry told me about several months ago. Tonight Colorado Public Radio had an interesting interview with Paul Polak, founder of IDE, which recently got a $13.4 million grant from the Bill & Melinda Gates Foundation.
IDE creates technology to aid farmers in the developing world to lift themselves out of extreme poverty. They don't give away the technology -- they sell it -- but they expect a 300% return on investment. For example, if a farmer purchases a $25 pump, they can expect to earn an incremental $75.
Polak believes that in order for poverty to be wiped out, there need to be revolutions in the following areas:
Click the link below to listen to the interview: