10,000 Women Leadership Academy, 2009 · 2009 Leadership Academy Attended by nearly 100 individuals from 16 countries. 510,000 Women Scholars in attendance representing Afghanistan,

10,000 Women Leadership Academy, 2009

“We are disciplined in our investments, and whenyou get to the topic of trying to invest and createGDP, there is no better or more efficient investmentthan the investment you make in women.”

— Lloyd C. Blankfein, Chairman and Chief Executive Officer, Goldman Sachs

On the Cover: 10,000 Women Scholars (left to right, top to bottom) Andeisha Farid, Flor Melara, Hend Yehia Zayed, Anagha Atul Kulkarni and Peace Mukankusi.

Contents Overview 1 | Plenary Sessions: Management Education in the New Economy 2 | Best in Class Support Services

for Small and Medium Enterprises 3 | Women: Entrepreneurship and Development 4 | Facts and Figures 5 | View from Goldman

Sachs Management 6 | Keynote Address 7 | Scholars From Around theWorld 8 | Partners Back Cover

rom July 20-22, 2009, the 10,000 Women Leadership Academybrought together academic and nonprofit partners, business leadersand dignitaries to share best practices and discuss substantiveprogrammatic issues such as wrap-around support services,capacity-building and measurement and evaluation.

The mission of the 10,000 Women initiative is to foster shared economicgrowth through business and management education for women. Thiseducation is intended to help students build businesses that will create jobsand greater prosperity for their families, their communities and their nations.10,000 Women is a network of partners. It would not be possible withoutthe insights, expertise and hard work of more than 60 of the world’s leadingacademic and non-profit institutions which are teaching in 16 countries thatinclude Brazil, China, India, and Nigeria. The 2009 Leadership Academy wasthe first opportunity for all program partners to sit down together, learn fromone another’s experiences and build a common vision for a global program.

Also attending the session were five graduates from the 10,000 Womenprogram from around the world. Each of them spoke, demonstrating theprogram’s personal impact and the broader potential of investing in women.

Plenary sessions kicked off the two-day conference. Distinguished panelsand moderators led spirited discussion covering Management Education in theNew Economy, Best in Class Support Services for Small and Medium-SizedEnterprises and Entrepreneurship and Development. The plenary sessionsprovided background and context for the working sessions that followed.

The working sessions covered practical components of the 10,000Women initiative, such as Scholar Selection, Wrap-Arounds, LeadershipDevelopment, Monitoring and Evaluation (M&E), Curriculum Content andCapacity Building and Knowledge Exchange. Others covered using technologyto foster a learning community, and options for opening access to capital.

Snapshot: Working Sessions

A key challenge facing partners is determiningwhich wrap-around services deliver the greatestimpact in particular locations, then findingoptimal delivery mechanisms, dosage,intensity and resources.

The cutting edge M&E system for 10,000Women is based on a “Logic Model” thatconnects the initiative’s activities to specificoutcomes for Scholars, such as greater businessknowledge, better business practices, and,ultimately improved business performance.

Goldman Sachs has formed a 10,000 Womenlearning community taskforce to develop recom-mendations for how partners can continue tointeract with one another, including a web-basedlearning tool that provides customized contentfor Scholars.

Curriculum issues such as a safe, culturallysensitive learning environment were defined.Offerings should include fundamental lessonsthat can be readily applied to each Scholar’sbusiness situation. The more basic andapplicable to real life, the better.

10,000 Women can eliminate several traditionalbarriers to capital access by providing businessplan assistance, helping women overcome fearsand build confidence and introducing women tobanks and other lenders.

By the time the Leadership Academy endedthere was widespread recognition among theattendees that 10,000 Women has the potentialto grow from a group of effective programs toa worldwide movement built on the platformof high-quality business and managementeducation, wrap-around services, and access tocapital for underserved women entrepreneurs.

10,000 Women Leadership Academy Overview

F

Tom Tierney, Chairman and Co-Founder, The Bridgespan Group. Gary Cohn, President and Chief Operating Officer, Goldman Sachs, greeting Scholars

Anahga Atul Kulkarni and Peace Mukankusi. Marcellina Mvula Chijoriga, Dean, University of Dar es Salaam. 1

Freida Brown, Celia de Anca, Guy Pfeffermann.

“To move this business to the next level, I neededmore skills. I needed business skills.”

— Ayodeji Megbope, 10,000 Women Scholar

Key Concepts10,000 Women seeks to empower women who traditionally have not

had access to high-quality business education. Differences in culture and

conditions call for courses that include marketing, human resources

management and accounting. Improvements in the quality and capacity of

business schools will not only improve management skills in developing

countries, but also drastically reduce the need for aid dollars.

Management Education in the New Economy

Panelists

David ArnoldPresident,The American University in CairoCairo, Egypt

Freida BrownVice Chancellor and President,United States International UniversityNairobi, Kenya

Celia de AncaDirector, Center for Diversity in GlobalManagement, IE Business SchoolMadrid, Spain

Guy PfeffermannFounder and CEO,Global Business School NetworkWashington, DC

Nancy ThornborrowDean, Mills CollegeOakland, CA

Moderator

Dina Habib PowellManaging Director, Global Headof Corporate Engagement,Goldman Sachs

Plenary

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“This program is a three-course meal. Education is theappetizer, but wrap-around services are the main course!”

— Peter Bamkole, Pan Africa University

Bruce McNamer, Peter Reiling, Linda Rottenberg.

Panelists

Peter BamkoleDirector, Enterprise DevelopmentServices, Pan Africa UniversityLagos, Nigeria

BruceMcNamerPresident and CEO, TechnoServeWashington, DC

Peter ReilingExecutive Vice President,The Aspen InstituteWashington, DC

Linda RottenbergCEO and Co-Founder, EndeavorNew York, NY

Moderator

Jeri Eckhart-QueenanPartner, The Bridgespan Group

Key ConceptsBusiness support (wrap-around) services are crucial to SME owners

for building on and benefiting from what they learn in the classroom.

Currently many businesswomen lack access to mentors, networks,

business advice and other critical wrap-around services. Panelists

discussed the best way to create a long-term support network for

students. They agreed that schools should partnerwith non-profits and

other institutions to find the right mix to meet student needs.

Best in Class Support Services for Small and Medium Enterprises

Plenary

3

Peter Bamkole.

Jennifer Buffet, Ann Cotton, Ambassador Mark Dybul, Helene Gayle, Geeta Rao Gupta.

Panelists

Jennifer BuffetPresident and Co-Chair,Novo FoundationNew York, NY

Ann CottonExecutive Director,Camfed InternationalCambridge, UK

Ambassador Mark DybulCo-Director, O’Neill Institute forNational and Global Health Law,Georgetown UniversityWashington, DC

Helene GaylePresident and CEO, CARE, USAAtlanta, GA

Geeta Rao GuptaPresident, International Centerfor Research on WomenWashington, DC

Moderator

Isobel ColemanSenior Fellow, Council onForeign Relations

Women: Entrepreneurship and Development

Plenary

“We want to build jobs. We want to build a path to abetter life. We want to build opportunities for ourchildren. I promise you, we will.”

— Anagha Atul Kiukarni, 10,000 Women Scholar

Key ConceptsInvestments in women and girls, whether they are focused in business

education, HIV prevention, or primary education, can have a significant

multiplier effect. An increasing number of policy makers, businesses, and

philanthropists agree that women’s and girls’ education is linked to lower

rates of child mortality, child nutrition, increased mobility, family income,

and other positive outcomes.Measuring and publicizing program results is

essential to success and expansion. Transparency is required at all levels,

so that individuals and local groups can demand continued improvement.

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2009 Leadership Academy

Attended by nearly 100 individuals from

16 countries. 5 10,000 Women Scholars in

attendance representing Afghanistan, Rwanda,

India, Egypt, and the United States.

Worldwide

10,000 Women is a network of more than

60 academic, nonprofit and development

organizations dedicated to teaching women

in 16 countries. 1,700 women will be

enrolled or have graduated by the end of 2009.

10,000 women will be reached at the end

of the five-year program.

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Quick Facts and Figures

Gary CohnPresident and Chief Operating OfficerGoldman Sachs

Gary Cohn, President and Chief Operating Officer of GoldmanSachs addressed Academy attendees on Monday, July 20, 2009.

In his remarks, Gary updated partners on the program’s progressto date. “The first year has been defined by significant interestfrom partners, students and the people of Goldman Sachs,” hesaid. “We are honored to work with a network of 60 partners,and we have been very pleased to see high demand that hascontributed to a highly competitive 14 percent acceptance rate.”Gary added, “One of our greatest points of pride is that hundredsof people from Goldman Sachs have volunteered their time, in theevenings and on weekends, to serve as mentors in this program.”

Gary also spoke to the importance of measurement, stating,“We must be able to track our results; we must gather harddata to ensure that our work ultimately builds businesses andcreates jobs.”

He also pledged Goldman Sachs’ ongoing commitment to 10,000Women. “We want to serve as a resource to our 10,000 Womenpartners, offering them the resources and support they need toopen opportunities and change lives around the world.”

View from Goldman Sachs Management

10,000 Women Leadership Academy

“We’re seeingresults asstudents increaserevenues andcreate jobs.”

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Keynote Address

10,000 Women Leadership Academy

Melanne VerveerAmbassador-at-Large for Women’s Issues

10,000 Women was honored to be joinedby Ambassador-at-Large for Women’s Issues,Melanne Verveer. Ambassador Verveer, whopreviously ran the Vital Voices Global Partner-ship, is one of the most recognized andrespected advocates for women. Her appoint-ment to be the first-ever Ambassador focusedon women’s issues is a historic move and aclear demonstration of the importance theObama administration places on addressingthese matters in US foreign policy. AmbassadorVerveer was introduced by Goldman SachsChief of Staff John F.W. Rogers.

“I want to add my welcome and congratula-tions to the academic, philanthropic andNGO partners of 10,000 Women,” saidAmbassador Verveer. “And to the womenscholars. You are already demonstratingthrough your efforts the difference thisinvestment is making every day in advancingeconomic progress in your countries. To theGoldman Sachs family. Your visionary leader-ship and significant financial commitment—even in uncertain economic times—is creatinga better world for people everywhere.”

Ambassador Verveer addressed the need forthe economic empowerment of women. “In-vesting in women to drive economic growthis the right thing to do and the smart thing

to do.” She continued, saying 10,000 Womenhas developed from “a concept on paper to amodel program recognized around the world.”

She also spoke of her recent trip toAfghanistan where she met a 10,000 Womenscholar, Ludmila Hasandzada, who is workingfor a private media company while planningto build a sports center where women andgirls can safely learn their rights and buildphysical and emotional strength. “Ludmilais like so many 10,000 Women participantsfrom Nigeria, Rwanda, Brazil, Egypt or otherplaces,” said Ambassador Verveer. “You arecreating a new generation of leaders in eco-nomic entrepreneurship and social progress.”

Beyond 10,000 Women, Ambassador Verveeraddressed the critical role that women’s issuesare now playing in driving the nation’s foreignpolicy. “We recognize that women’s issues mustbe integrated and mainstreamed into US foreignpolicy for we know that the major security,governance, environmental and economicchallenges of our times cannot be solved with-out the participation of women at all levels ofsociety. After all, no country can prosper ifhalf its people are left behind,” she said.

This is the time, according to Ms. Verveer,to place renewed emphasis on women as aresource to fight poverty, stimulate GDPgrowth and to build more transparent anddemocratic societies.

“…the steps we take in

concert can make a very

real difference in the lives

of individual women,

their households, their

communities and,

ultimately, their societies-

at-large and their broader

economies. We are

talking about a vision

that has the potential—in

many respects—to greatly

impact our world.”

— John F.W. Rogers,Managing Director,

Goldman Sachs

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“Every investment you make in an emerging woman

business leader in the developing world has a multiplier

effect. She will be an employer, a mentor, a role model,

and an inspiration for others, and in doing those things,

will grow this programwell beyond 10,000 Women.”

— Melanne Verveer, Ambassador-at-Large, Global Women’s Issues

Peace Mukankusi ■ RwandaPeace, who lives in the Gasabo district ofKigali, is a 44-year-old widowedmother of six.She raised her children alone andwas able toeducate them all, a major accomplishment.She hasmanaged her own grocery store inRwanda since the genocide ended and recentlygraduated from 10,000 Women at the School ofFinance and Business in Kigali, Rwanda. Throughthe program, which is run in partnership with theWilliam Davidson Institute of the University ofMichigan, Peace has gained the skills to expandher product offerings and significantly increaserevenue. Thewinner of her 10,000 Women classbusiness plan competition, she is now puttingthe lessons she learned to work and plansto start her own farm to offer locallygrown agricultural products thatcurrently must be imported.

Hend Yehia Zayed ■ EgyptHend is a jewelry designer who had a passion for art but felt she didnot have the skills she needed to grow her business. She appliedto 10,000 Women at the American University in Cairo. Sincegraduating from the program, which is run in partnership with theWharton School, she has attracted a number of offers for capital aswell as support in exporting. Her ambition is to grow her businessand create a brand for herself and her jewelry in the Egyptianmarket and overseas, particularly in Eastern Europe.

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Scholars:Five of 10,000

Five participating Scholars

represent thousands of others

whose passion and purpose are

elevating their businesses, their

families and their communities.

Flor Melara ■ United StatesAfter emigrating from El Salvador as a child, Flor earned scholarshipsat nearly every level of schooling. Shewon the Goldman Sachs10,000 Women Business Leadership Award that helped her completeher MBA atMills College. Mills, one of the first domestic partners in10,000 Women, offers one of the fewMBA programs in the countryspecifically for women. Possessing a strong sense of duty and adesire to build opportunity for others, Flor plans to work in economicdevelopment and poverty alleviation in developing countries.

Andeisha Farid ■ AfghanistanAndeishawas a refugee in both Iran and Pakistanbefore returning home to Afghanistan, and nowmanagessix orphanages in Afghanistan. Andeisha enrolled in10,000 Women at the American University of Afghanistan,which runs the program in partnership with the ThunderbirdSchool of Global Management. There she learned to run herorphanagesmore efficiently, with disciplined accounting,best in class human resourcesmanagement and formalplanning. She is now planning to expand her work tobuild a new school.

Anahga Atul Kulkarni ■ IndiaAnagha has been in themanufacturing business since2001, and has used her new skills to attract investorsto provide capital. This has allowed her to hire ten newemployees. Her company currently turns out specializedpackaging applications like tough plastic Apet Sheet,Blisters, and trays that can be used in the hospitalityand other industries.

“I have increased my cash flow and have added 10 new jobs, increasingmy workforce by 50 percent. Ten people, ten families have a brighterfuture. Eleven, counting my family.”

— Anagha Atul Kiukarni, 10,000 Women Scholar

10,000 Women

Academic Partners

American University of Afghanistan, Afghanistan

American University of Beirut, Lebanon

American University in Cairo, Egypt

Asian University for Women, Bangladesh

Brown University, USA

Columbia Business School, USA

Cuttington University, Liberia

Fundação Dom Cabral, Brazil

Fundação Getulio Vargas Escola de Administraçãode Empresas de Sao Paulo, Brazil

Georgetown University/US Afghan Women's Council, USA

Harvard Business School, USA

HEC, France

IE Business School, Spain

IESE Business School, Spain

Indian School of Business, India

INSEAD, France and Singapore

Keio University Graduate School of Media Design, Japan

London Business School, UK

Mills College, USA

Pan-African University, Nigeria

School of Finance and Banking, Rwanda

Stanford Graduate School of Business, USA

Strathmore University, Kenya

Tecnológico de Monterrey, Mexico

Thunderbird School of Global Management, USA

Tsinghua University School of Economics andManagement, China

United States International University, Kenya

University of Asia and the Pacific, Philippines

University of Cambridge, represented byJudge Business School andthe Cambridge Assessment Group, UK

University of Cape Town Graduate Schoolof Business, South Africa

University of Dar es Salaam, Tanzania

University of Johannesburg, South Africa

University of Oxford, Saïd Business School, UK

William Davidson Institute at the Universityof Michigan, USA

The Wharton School of the University of Pennsylvania, USA

Yale University School of Public Health, USA

Zhejiang University Global Entrepreneurship ResearchCentre and School of Management, China

10,000 Women

Nonprofit Partners & Advisors

Acumen Fund

Africa America Institute

Ashoka

Aspen Institute – ANDE

Camfed International

CARE

Case Foundation

Center for Creative Leadership

Center for Global Development

CHF International

Endeavor

Global Business School Network

Hispanic Scholarship Fund

Institute of International Education

Inter-American Development Bank

International Center for Research on Women

LASPAU: Academic and Professional Programs for the Americas

National Entrepreneurship Network

Opportunity International

Overseas Private Investment Corporation

TechnoServe

United Negro College Fund

Vital Voices Global Partnership

Women for Women International

Women’s World Banking

World Bank

About 10,000 Women

The Goldman Sachs 10,000 Women initiative is a five-yearcampaign to foster greater shared economic growth by providing10,000 underserved women around the world with a businessand management education. The initiative is coordinated in localmarkets by a network of more than 60 academic and NGO partners.It is funded by Goldman Sachs and The Goldman Sachs Foundation.For further information on the 10,000 Women program, please visitwww.10000women.org.

About Goldman Sachs

Goldman Sachs is a leading global investment banking, securitiesand investment management firm that provides a wide range ofservices worldwide to a substantial and diversified client base thatincludes corporations, financial institutions, governments and highnet worth individuals. Founded in 1869, it is one of the oldest andlargest investment banking firms. The firm is headquartered inNew York and maintains offices in London, Frankfurt, Tokyo,Hong Kong and other major financial centers around the world.

Photos: Marc Bryan-Brown