Aggie International Entrepreneurs Academy for Future International Leaders – International Leadership Project Microloan Distribution in Comayagua, Honduras

Overview  Aggie International Entrepreneurs is a micro-finance pilot project launching in the city of Comayagua, Honduras.  Basics:  2 weeks volunteer work  4 week business course implementation  Credit-bearing (in progress)  Launching: Spring 2012 (course) & Summer 2012 (project implementation)  Microloan of lempiras (c. 1000USD) per group of 4 entrepreneurs working together in the same industry

 To pilot a project that will build entrepreneurial capacity in a severely underprivileged area, specifically the Honduran city of Comayagua, via micro lending and business education. Mission Statement

Key Partners In Honduras: Horizontes al Futuro CENET At TAMU: Mays Business School Department of International Studies Study Abroad Office AFIL

 Works skills and rehabilitation center for ‘at-risk’ Hondurans  Skills training  Lack resources to help their skills program graduates pursue a business Horizontes al Futuro

Business Course  Designed a manual  About 50% Complete  Basic business principles  Written in basic- level Spanish  Difficulty:  keeping in tune with the level of education of the Comayaguan micro-entrepreneurs  Lack of support from CENET in helping us complete the course as initially thought

Credit-Bearing Designation  Intention: to facilitate recruitment of students and enable them to apply semester financial aid to their involvement in the project.  Tool that will aid in sustainability  Spring 2012 course  Hurdle: TAMU “red tape”

Student Participants Looking for about 8 students – 2 groups of 4 for direct mentoring Student Conditions for qualification are as follows:  Must be upper-level  Must be an Accounting, Finance, Management, Marketing, or International Studies (emphasis in Commerce) major  Better if they are receiving from Mays Business School a(n):  International Business Studies certificate  Latin American Business certificate  Entrepreneurial Leadership certificate  Must have a 3.0 GPR or higher  Must have a working level of conversational Spanish  Must attend all required training events and meetings  Must complete their fundraising before project implementation in Honduras

Difficulties Encountered  Communication with key partners in Honduras  Inability to travel  Time management  Department of International Studies is being dissolved effective 2012  Loss of key partner

Revised Project  Extending experience length from 4 weeks to 6 weeks to allow for 2 weeks of personal volunteering  Credit – bearing experience  In progress ~ allowing for greater use of financial aid and reduced cost  Moving implementation dates - delaying

Revised Timeline November 2011 Complete obtaining approval for credit-bearing proposal and place Aggie International Entrepreneurs on the curriculum. December 2011 Have 8 students selected and registered through the study abroad office. Spring 2011 Complete course at Texas A&M Summer I 2012 Implement project in Comayagua, Honduras

Projections for the Future  Hopeful but expect several difficulties to arise, particularly it making it credit-bearing  Partner with Global Business Brigade (potential)  Implement in Spring 2012 and Summer 2012  Guide future AFIL group in taking up this project  Susana will continue to attend TAMU and remain the point of contact with Horizontes