Effectual Entrepreneurship, Third Edition

           

          Practically Speaking

          Investing in People

          This firm pays a student’s tuition bills in exchange for a percentage of future earnings: dividends on career success.

          Entrepreneur: Felipe Vergara 

          Entity: Lumni

          Country: Colombia

          Pages 299-300 in

          Chapter 18 Ownership, Equity, and Control: Manage Stakeholders (pp. 289 to 311)

          "Felipe Vergara was a unique student. Not a lot of people born in Barranquilla, Colombia, wind up studying management at the University of Pennsylvania's prestigious Wharton School.
          Vergara's path was one of education and entrepreneurship. From an early age, he tutored others in math, science, and languages and, after completing his university studies in Bogota, he founded a firm providing strategic and financial planning services to small businesses.
          Mixing education and business with his first-hand understanding of the financial difficulties of attending Wharton, Vergara asked himself a question: Why, if someone could invest in the future value of a firm, could they not invest in the future value of him?"

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