June 20, 2024. A recent collaborative workshop facilitated by VIVA Idea for leaders in the impact investing ecosystem from around the world, held at GSG Impact’s annual GLM2024 meeting, discussed key aspects of an effective land-based investment strategy in developing countries.

In the workshop “Strategies for Ground-Based Impact Investing in Developing Countries”, VIVA Idea used digital tools to extract insights from participants’ experiences. The moderation of José Valverde, executive director of VIVA Idea, and Urs Jäger, knowledge director, succeeded in generating discussions in subgroups that fostered the exchange of ideas.

The group of a hundred people from different countries was divided into tables of 10 people, all connected to an application on their phones, and through motivating questions, they generated a collective conversation at each table, which they then transferred personally to the application. There, in real time, the answers were accumulated and displayed on screens that reflected the group work.

For Arturo Rodríguez, coordinator of VIVA Idea’s Tools area, this is a sample of the use of digital solutions and artificial intelligence that VIVA Idea promotes. “Adding value through digital solutions that allow not only to replicate, but to scale the impact of the projects, is one of the bets of VIVA Idea to add in the ecosystem from Latin America,” said Rodriguez.

From the conversations at the tables in analog form, each participant added their answers in the digital application and from this exercise emerged the 7 points that were consolidated by the Tools and Methodologies team of VIVA Idea.

Here are the 7 key points:

1. Stakeholder engagement and collaboration.
Integration of community needs and voices is essential. Stakeholder engagement ensures that investments are effective and inclusive, adapting to local contexts and encouraging community participation.

2. Rigorous and systematic approaches to measuring impact.
It is critical to implement rigorous and systematic methods that respond to key community challenges and needs. Accurate impact measurement enables strategies to be adjusted and benefits to be maximized.

3. Strong community participation and engagement
Place-based investment thrives when there is active community participation. Effective frameworks and close collaboration among stakeholders are vital to the success and sustainability of projects.

4. Established frameworks and standardized impact metrics.
Using agreed-upon frameworks and impact metrics, such as IRIS+ and the UN SDGs, is essential to ensure accountability and effectiveness. These tools provide a solid basis for transparently assessing and communicating results.

5. Collaboration, transparency and capacity building.
Fostering collaboration and transparency, along with capacity building on the ground, is crucial to building a robust impact investing ecosystem. These actions strengthen trust and commitment among all stakeholders.

6. Networking and alignment of roles.
Creating effective networks, sharing best practices, and aligning stakeholder roles are fundamental steps to gaining the necessary support within the impact investing ecosystem. These activities foster an environment of cooperation and mutual learning.

7. Recognition of unique challenges and practical solutions.
Identifying and recognizing the specific challenges faced by developing countries is crucial. Proposing practical solutions and success factors can overcome obstacles and enhance the positive impact of investments.

These key points highlight the importance of a holistic and adaptive approach to field-based investment, ensuring that strategies are effective, inclusive and sustainable over time.