Acceptance Address – 2009 Nouvel Economiste Philanthropic Entrepreneur of the Year Award (Paris, France)

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1 Sahil Badruddin = ""The goal [of AKDN's strategy] is clear: the aim is to create or strengthen civil society in developing countries. This single goal, when it is achieved, is in fact necessary and sufficient to ensure peaceful and stable development over the long term, even when governance is problematic…. The essence of our development strategy is thus to create these where they are lacking or need to be reinforced….The various organisations within the AKDN fall into two categories which both share the same goal of supporting development: commercial companies (grouped together into the Aga Khan Fund for Economic Development, known as AKFED) and those non-profit enterprises which I call “para-companies,” that work toward social or cultural goals. The reason for this dual structure is that civil society cannot emerge solely by starting businesses or solely by building hospitals, schools and universities or cultural facilities….Para-companies are designed to be economically independent…. [They are] conceived to produce a surplus to ensure their survival and development as long as an entrepreneurial philosophy underpins the creation process and later the day-to-day management. This notion of surplus, it should be pointed out, in no way conflicts with the non-profit status of para-companies."-Aga Khan IV "