Transnational Immigrant Innovation Network
Alvaro Lima & Peter Plastrik
Innovation Network for Communities
(April 2008)
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What if… (scenario 1)
Diaspora Capital
financial entity-driven investment in immigrant communities
community financial fitness centers
remittance-based philanthropy for immigrant communities
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Savings & Loans
Deposit Accounts
Mainstream Financial Institutions
Small Savings
Borrowing ( short term loans, e.g. payday loans)
Sending Money to Families
Paying Bills
Cashing Checks
Financial Needs of Low-income Immigrant
Bills Payment
Check Cashing
Money Transfer
Non- Financial Institutions
Low-income Immigrant Needs Versus Financial Offerings
Source: Alvaro Lima and Peter Plastrik, 2005.
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BUILD AND
GROW
Insurance and Investments
ATTRACT AND
ACQUIRE
Transactions & Payments
INCOME
WEALTH!!
CONVERT
Savings & Other Asset-building Products
RETAIN
Credit and Loans
• Check cashing• Bills payment• Money transfer (remittances)• Value cards• Low/No minimum balance deposit accounts
• Traditional savings accounts with some non-traditional features• IDA-like accounts with more flexibility• Children’s savings accounts• Credit history building
• Deposit secured emergency loans• Education Loans• Flexible small business and home financing • Enhancing credit history
• Health, life, auto, and home insurance• Savings bonds, pensions, other investment options• Pension plans• Equity investments & Asset management• Philanthropic investments
SAVINGS
CREDIT
Fin
an
cia
l E
du
ca
tio
n o
ffe
red
th
rou
gh
ou
t th
e L
ife
Cy
cle
Full-service Portfolio Structured to Serve the Life-cycle Needs of Immigrants
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What if… (scenario 2)
Digaai.com
4 million Brazilians around the world:
communicate home with each other (social networking)
register their experience/build unique archives through video, photos, etc.
search newspapers, magazines, websites, etc. contribute to Brazilian diaspora wiki store personal information using private web space
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What if… (scenario 3)
Transnational Index
What: Data and survey-based ranking of communities by their
degree of transnationalism Published annually in partnership with national media
Why: create awareness among policy makers of transnational
phenomena identify social and commercial innovation opportunities for
transnational immigrant communities build consciousness among transnational immigrants of
unique potential
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Designing the Index
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The Transnational LensTraditional Lenses:
immigration conceptualized as a bipolar relation between sending and receiving countries (moving from there to here)
emigration is the result of individual search for economic opportunity, political freedom, etc.
migrants are assumed to be the poorest of the poor
immigrants occupy low-skilled jobs in agriculture, construction, and manufacturing
Immigrants steadily shift their contextual focus, economic and social activities to receiving country
immigration should not bring about significant change in the receiving society
Transnational Lenses:
immigration conceptualized as flows of cross-border economic, political and social-cultural activities (being here and there)
emigration is the result of geopolitical interests, global linkages, and economic globalization
migrants are not the poorest of the poor nor do they come from the poorest nations
growth in the service and technology-based jobs create opportunities for low as well as high skilled migrants
After the initial movement, migrants continue to maintain ties with their country of origin
immigration creates hybrid societies with a richer cultural milieu
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A Transnational Immigrant Innovation Network
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1st Generation Innovation Portfolio
Digaai.com
Transnational Index
Diaspora Capital Services
English for Speakers of Other Languages (ESOL)
Transnational Fellows
Research Projects (transnational immigrant organizations)
Publications
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