2016 - 2017 ANNUAL REPORT

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LETTER FROM THE EXECUTIVE DIRECTOR

Dear friends of Sinapis, For six years, we have had the honor of serving the Lord through accelerating Kingdom Entrepreneurs to make disciples and alleviate poverty. This year we have had the opportunity to impact more lives than ever before. Our program scaled from one city to five! In less than 12 months, we have expanded to two additional cities in Kenya, Mombasa and Kisumu, and co-launched our program in Accra, Ghana and São Paulo, Brazil with our new partners Innohub and Bluefields Development. Across these 5 cities, we have now accelerated over 750 entrepreneurs. Growing businesses means more jobs and more people able to provide for their families. Over 6,500 people are being supported economically through the jobs Sinapis entrepreneurs have created! And since our entrepreneurs continue to grow their revenues at an impressive rate of 50% on average year over year, and are raising over 350% more investment capital after the program, these businesses will keep growing. Businesses grow, jobs are created and families are able to send kids to school, take care of elderly parents and plan for the future. We also see our entrepreneurs continuing to use their businesses as a means of expanding God’s Kingdom. Business owners are creating discipleship programs to walk with their employees in their journey of faith and community impact programs to help those in need around them. Kingdom business owners are expanding God’s kingdom through both word and deed. Beyond the entrepreneurs themselves, churches were transformed this year through partnership with Sinapis. We have seen communities of believers joining together to learn what it means to live out their faith in the marketplace in places where corruption and bribery are often seen as business necessities. In every place we have expanded this year, the stories are unique but share a cohesive theme of the catalytic impact that can happen when entrepreneurs use their creativity and influence to alleviate poverty and glorify God through their businesses. This year is particularly special for me because it is my last as Executive Director of Sinapis. Seven years ago, with my two co-founders, I started working on the concept of Sinapis while sitting in my classroom in graduate school in Boston. I couldn’t have imagined that a few years later we would expanding around the globe and impacting over 750 entrepreneurs! I will be stepping into a board role and overseeing the growth of Sinapis from my board seat. I am so excited about this next chapter where our COO, Matthew Rohrs, will be moving into the CEO role. He has a wonderful heart and mature faith, and I can’t wait to see Sinapis grow tremendously under his leadership. What’s next for us in 2017/18? We are continuing to expand geographically and are preparing to launch in Uganda! We will also continue to develop the tools we need to empower more partners around the world to start a Christ-centered accelerator in their own countries. We are so thankful for everyone who has partnered with us to get us where we are today. We couldn’t have done it without you. Blessings in Christ,

COURTNEY ROUNTREE MILLSExecutive Director

TABLE OF CONTENTS

Letter from Executive Director 2

Our Strategy 5Sinapis Academy 7

Business Plan Competition 9

Fast Track Fellows 11Making Disciples 13

Alumni Network

Deepening Our Roots: Kenya

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Dreams of Expansion Become Reality

Scaling Globally: Ghana

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Spanning Continents: Brazil

Theory of Change

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All Scripture quotations, unless otherwise noted, are taken from The Holy Bible, English Standard Version® (ESV®)Copyright © 2001 by Crossway, a publishing ministry of Good News Publishers. All rights reserved. ESV Text Edition: 2016

MISSION STATEMENTTO MAKE DISCIPLES AND ALLEVIATE POVERTY THROUGH THE POWER OF ENTREPRENEURSHIP

VISIONTO EMPOWER 10,000 ENTREPRENEURS GLOBALLY AND BE AN INTEGRAL PART OF TAKING BACK THE MARKETPLACE FOR THE GLORY OF THE KINGDOM

“The kingdom of heaven is like a grain of mustard seed that a man took and sowed in his field. It is

the smallest of all seeds, but when it has grown it is larger than all the garden plants and becomes a

tree, so that the birds of the air come and make nests in its branches.”

Matthew 13:31-32

Impact Data 27

Christ-Centered Accelerator Movement 31

On the Horizon 33

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POVERTY According to the most recent estimates, over 750 million people in the world still live on less than $1.90 a day. Half of these live in Sub-Saharan Africa. This kind of crippling poverty deprives people of dignity, basic human needs, and often leads to a sense of marginalization that can end in crime and even radicalization.

UNEMPLOYMENT AND URBANIZATION Over half of our world’s population is under the age of 30, and 90% of this total live in developing economies. Unemployment rates among youth in developing world countries often exceed 30%, and even among those who have jobs, poverty rates range from 39% in the Arab states to almost 70% in Sub-Saharan Africa. In addition, continuing growth and migration to cities are projected to add 2.5 billion people to the world’s urban population by 2050. This dramatic shift in population demographics and urbanization could either represent an economic opportunity that could transform poverty throughout entire regions, or it is a potential time bomb that will unleash deeper poverty, unrest, and mass migration if these youth can’t find adequate economic opportunity. The world needs to create millions of new, high quality jobs.

CORRUPTIONUnderneath these demographic trends and economic statistics, we see heart issues that, if not addressed, will always prevent a society from reaching its God-given potential. Corruption is one glaring example. Estimates indicate that the cost of corruption equals more than 5% of global GDP ($2.6 trillion) with over $1 trillion paid in bribes each year. Despite widespread knowledge of God and the gospel, in many “Christian” countries corruption is an accepted part of business as usual. This is unfortunately the case in Kenya where the country is ranked #145 out of 176 countries in the Transparency International Corruption Perception Index, despite almost 85% of the population indicating that they are Christians!

OPPORTUNITYWhile these challenges are formidable, the opportunity for economic and social reform is significant. These same markets are among the fastest growing economies on the planet, presenting tremendous opportunity for social and economic development. Entrepreneurs are at the heart of economic transformation. Specifically, high growth small businesses create and sustain the vast majority of new jobs. They also produce the innovation and GDP so critical for economic development. In every society, successful entrepreneurs garner an incredible amount of influence among a wide network of people as they do business.

At Sinapis, we believe that God is leading a global movement of poverty alleviation and spiritual transformation through Kingdom Entrepreneurs. When people with entrepreneurial talents are equipped with the business skills, networks, and capital they need to grow profitable businesses, the economy expands, jobs are created, and poverty is sustainably reduced. When entrepreneurs are given a vision for dedicating their business to Christ and making disciples, corruption can be defeated, local churches are strengthened, and communities and nations can be changed.

REMARKABLE GAINS HAVE BEEN MADE IN THE FIGHT AGAINST GLOBAL POVERTY IN THE PAST 30 YEARS. NEARLY 1.1 BILLION PEOPLE HAVE MOVED OUT OF EXTREME POVERTY SINCE 1990. HOWEVER, ENORMOUS CHALLENGES REMAIN THAT MUST NOT BE IGNORED.

Image: A view of the skyline of downtown Nairobi and Kibera slum in the foreground. Officials estimate that 500,000 to 1 million residents live in Kibera.

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OUR STRATEGY

For the highest potential entrepreneurs, Sinapis provides mentors with industry expertise and successful entrepreneurial experience, access to experts and consultants, execution support, and advanced capacity building.

Entrepreneurs receive comprehensive due diligence checklists and pitch preparation so that they are ready when financing needs arise. We also host an annual Business Plan Competition with members of the local investment community and provide ongoing investor match-making efforts for our accelerator participants and alumni.

Sinapis provides world-class entrepreneurship training customized for early to growth stage business ventures in developing countries. Our 16-week Sinapis Academy curriculum and workshops equip business owners with the essential skills for entrepreneurial success. Just as importantly, our case studies and practical assignments cultivate essential mindsets and characteristics critical for entrepreneurial success.

ECONOMIC EMPOWERMENT INFLUENTIAL KINGDOM BUSINESS LEADERS MARKETPLACE TRANSFORMATION

INTENSIVE BUSINESS TRAINING

Our desire is that everyone we serve experiences the joy of following Jesus Christ. We train each student to integrate their faith with their business and make disciples in the marketplace, community and in their family. Our invitation to follow Christ is always made with gentleness and respect (1 Peter 3:15), and people of all faiths are welcome to receive our services.

CONSULTING & MENTORSHIP

ACCESS TO CAPITAL

MAKING DISCIPLES

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FOR MOST ENTREPRENEURS, NEW BUSINESS IDEAS AND PASSION FOR THEIR WORK ARE SECOND NATURE. BUT IDEAS AND PASSION DON’T GUARANTEE SUCCESS. BECAUSE THE RIGHT PRACTICAL KNOWLEDGE IS OFTEN THE DECISIVE FACTOR BETWEEN SCALING A BUSINESS AND FAILURE, SINAPIS EQUIPS HIGH POTENTIAL ENTREPRENEURS WITH RIGOROUS BUSINESS TRAINING THAT CAN FILL IN THEIR GAPS AND CATAPULT THEIR BUSINESS INTO THE NEXT STAGE OF GROWTH.

The Sinapis Academy is a 16-week course with advanced MBA-level content adapted from the Acton School of Business in Austin, Texas. The material is customized for early to mid-stage entrepreneurs in developing countries and provides them with essential business training while addressing mindsets that can impede growth. The curriculum was updated in 2016 to include case studies based on a real Sinapis alumnus and covers four main topics: customers, financials, management, and operations. In addition, each class begins with a Kingdom Business lesson that helps entrepreneurs to understand what it means to be a godly leader in the marketplace.

FREE WORKSHOPS IN 2017 SINAPIS TRAINED OVER 1,100 ASPIRING OR EXISTING ENTREPRENEURS IN WORKSHOPS AT NO COST TO THEM.

SINAPIS ACADEMYImage: Sinapis Country Manager Silvya Kananu teaching a class on Sales

267 This year, Sinapis trained

entrepreneurs in the Sinapis Academy

Image: Workshop participants discuss Customer Development at House of Grace, Rongai

These workshops are another way we catalyse economic development in the communities in which we work. They cover topics such as: Understanding Cash Flow Becoming Investor Ready Customer Segmentation

Workshops provide valuable training as a service to local churches and economically disadvantaged entrepreneurs who might not otherwise receive such training, while also giving potential students the opportunity to check out what Sinapis has to offer before making a commitment.

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Sometimes the best business ideas are born because of a problem that won’t go away. This was the case for 23-year-old Sintamei Nkaitole, our 2017 Business Plan Competition winner. Her parents bought land and built a new home in 2004, which unfortunately quickly became infested by thousands of bees. The family tried everything to remove the hives, but with no success. After years of bee stings and desperate for a solution, Sintamei’s mother Naisola contacted the Ministry of Beekeeping under the Department of Agriculture and discovered that the property was on a centuries-old bee route. The family felt they had two choices: sell the house or go into the honey business! After learning more about the market opportunity in organic honey, the family chose to keep the house and receive professional beekeeping training. Sintamei and Naisola partnered together in the venture, and once they felt confident in their ability to manage the hives and begin organic honey production, Asali was born in June 2016. They began by purchasing 20 hives, with the expectation that if things went well, bees would settle in the hives in roughly a month. To their surprise, every hive was filled in under a week! Their first harvest occurred in November 2016, yielding over 660 pounds of honey. This success prompted Asali to invest in eight more hives, and the second harvest was even greater at over 850 pounds!

Sintamei and Naisola saw huge potential in the business and began dreaming of growing their distribution in Kenya and ultimately exporting to high-end markets with significant unmet demand such as Dubai. But to seize this opportunity, both recognized that they had gaps in their entrepreneurial training. They decided to

enroll in the Sinapis Academy together in November 2016. For Sintamei, the most important business lessons from the curriculum were learning how to identify operational bottlenecks, understanding and managing financials, and building repeatable HR systems.

We love that the motivation behind Sintamei’s entrepreneurial drive is not just the bottom line. Sintamei’s family is Maasai, the Kenyan tribe known for its warriors’ red clothes, intricate beadwork and fierce commitment to holding on to cultural traditions. Naisola knows the tremendous impact sustainable business achieves for the Maasai, as she previously employed over 500 Maasai women producing high-end beadwork for export markets. Asali plans to leverage this experience to supply beehives and training to Maasai women, providing them with a sustainable way of earning an income that fits well within their traditional rural lifestyle. In addition, they see this as a powerful opportunity to advance God’s kingdom and work with the local church to share the gospel in authentic relationship.

Sintamei says her experience with Sinapis has revolutionized her mind with respect to how to integrate her faith with her business, equipped her with the tools she needs to grow, and provided her with access to capital. She summarizes her experience by saying, Knowledge, vision, and passion coupled with hard work produce the best fruits!

That’s why we prioritize equipping entrepreneurs to be investor ready and to work toward mastering the skill of pitching their business ideas whenever the opportunity arises. One way we do this is through our annual Business Plan Competition. The event is held in conjunction with our graduation ceremony, where this year we celebrated accelerating 250 entrepreneurs in Kenya!

To make the finalist stage and earn the opportunity to compete for the $10,000 in seed capital, each competitor was selected based on the strength of the business plan they submitted after the Sinapis Academy course. The twelve strongest attended a week of additional training and coaching called Pitching Bootcamp. From these twelve semi-finalists, six were selected to compete in the Business Plan Competition in July.

As the competition began, the celebratory mood of a graduation ceremony quickly transitioned to one of focused intensity. Over 300 graduates, alumni, family and friends gathered to hear these entrepreneurs passionately argue for why their business had the greatest potential to succeed. Each of their business cases was distilled into an eight-minute pitch, followed by five heart-pounding minutes of Q&A with the judges. Though this experience is quite stressful, preparing and delivering a speech like this for discerning investors develops confidence and polish for future rounds of raising capital.

Each finalist did an outstanding job of overcoming their nerves and captivating the audience. The competition was the closest in our history, and after requiring extra time to make their final decision, the judges selected Sintamei Nkaitole and her organic honey company, Asali, as the winner! Sintamei impressed the judges with her strong technical understanding of beekeeping and the unmet demand for organic honey in Kenya and abroad.

Sintamei intends to use the $10,000 to significantly increase her honey production by purchasing 100 new hives and two honey processing machines.

2017 BUSINESS PLAN COMPETITION WINNER

SINTAMEI NKAITOLE

BUSINESS PLAN COMPETITIONIN THE SMALL AND GROWING BUSINESS (SGB) SECTOR, ACCESS TO CAPITAL IS CONSISTENTLY CITED AS ONE OF THE PRIMARY OBSTACLES TO GROWTH.

Image: Finalist Samuel Gitau pitching his vision for his company, Brand Extreme

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FAST TRACK FELLOWSTHE FAST TRACK FELLOWS PROGRAM IS AN ENTREPRENEURSHIP ACCELERATOR THAT PROVIDES HIGH POTENTIAL ENTREPRENEURS WITH SIX MONTHS OF SUPPORT IN THE FORM OF CONSULTING, PROFESSIONAL ADVISORY SERVICES, AND INVESTOR MATCHMAKING.

Comprehensive Business AssessmentWe conduct a business assessment to identify weaknesses and high priority areas of focus andthen create an individualized plan of action. Entrepreneur ConsultantsFellows are paired with a management consultant who advises on business planning and strategy, provides execution support, and connects fellows with local and global resources. Professional AdvisorsEach entrepreneur receives 10 hours to allocate among a list of professional service providers who have expertise in accounting, tax, legal, HR, IT, sales, marketing, PR, branding, operations, or web & mobile development.

Execution AccountabilityFellows, in conjunction with their consultant and mentor, set milestones to achieve each month. If they execute well against those milestones, they can win small amounts of seed capital.

Kingdom Business Bible StudyEach month the fellows and a leader from Sinapis gather to study the Bible on various business topics and to share with one another how they are integrating their faith within their businesses. Investor MatchmakingSinapis provides fellows with advanced training in raising capital and refining their investment case, business plan, pitch and financial model. Then Sinapis introduces entrepreneurs to local and international investors.

PROGRAM COMPONENTS

ALUMNI SPOTLIGHT

WANJIKU KARIUKI KANDIE

But if you had told Wanjiku a few years ago that she would serve companies like this, she would have smiled in disbelief. Wanjiku began Waridi in 2007 as a side hustle while she completed her actuarial science degree. An entrepreneur at heart, she saw an opportunity with the growth of the internet to bring wedding planning vendors onto one online platform and sell advertising space. While the model wasn’t economically viable, the popularity of the site led Wanjiku to see potential in high-end wedding planning.

Waridi experienced success in wedding planning, but everything changed when a local corporation asked Wanjiku to plan a themed children’s event.

We had so much fun creating a unique and beautiful experience for the event that we pivoted completely to corporate event planning. Corporates offered greater opportunities to scale, and they needed us because they wanted their events to reinforce the experience of their brands.

Wanjiku heard about the 16-week Sinapis Academy through her church and was particularly attracted to the combination of MBA content and Kingdom Business training. After completing the program, she was admitted into the Fast Track Fellows (FTF) accelerator. The FTF’s comprehensive business assessment revealed that the cost structure was unsustainable, and the monthly milestones helped Wanjiku realize that detailed business planning was critical to finding the right strategy for scale. Since completing the FTF program in early 2017, Waridi’s revenue has grown 30%, and the company has reached new levels of profitablilty. In addition, the company planned its first event outside of Kenya in July and is beginning to seek opportunities across Africa.

Most importantly, Wanjiku is emboldened to lead her business for the kingdom. The staff pray and read scripture together each day, and she is watching her employees see, sometimes for the first time, that they can apply the Bible to their daily lives. As a smaller firm emerging from the ranks of start-up, Wanjiku and her staff rally around the story of David and Goliath. They are using the passion in their hearts, the tools in their hands, and their faith in God to tackle whatever challenges come their way.

WANJIKU KARIUKI KANDIE IS A CO-FOUNDER, DIRECTOR AND HEAD OF BUSINESS DEVELOPMENT AT WARIDI EVENTS LIMITED. WARIDI IS A CORPORATE EVENTS MANAGEMENT COMPANY THAT PROVIDES EVENT DESIGN, PLANNING, AND MANAGEMENT SERVICES TO SOME OF THE LARGEST AND BEST-KNOWN INTERNATIONAL COMPANIES IN THE WORLD SUCH AS FACEBOOK, GOOGLE, INTEL, MICROSOFT, WORLD WILDLIFE FOUNDATION AND NATIONAL GEOGRAPHIC.

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CALLING FROM THE CREATOR Have I received affirmation that this business matches God’s calling on my life?

REFLECTION OF GOD’S CHARACTER Are we as a company reflecting a balance of God’s holiness, justice, and love in our words and actions?

LIFE-GIVING CULTURE Do my employees feel valued, accountable, empowered and able to pursue their callings?

MEASURABLE FRUIT Is the world clearly better because of the existence of this company, and is our impact growing?

DISCIPLE-MAKING Does my company help move people along their spiritual journey?

Jesus’ most common invitation in the gospels is “follow me.” This simple call has massive implications for eternity, but just as importantly, it implies a life of apprenticeship to Jesus here and now. At Sinapis, we invite each entrepreneur to live as a disciple of Christ and to experience the freedom and joy that come only from Him. For those who have already chosen to follow Him, we equip them with knowledge and tools to lead Kingdom Businesses and to make other disciples as they minister in the marketplace and in their communities.

25% of our Sinapis Academy curriculum helps entrepreneurs learn how to integrate their faith with their business. The training provides a deep dive into the seven elements of our Kingdom Business framework. Originally designed by Gateway Church in Austin, TX and modified by Sinapis, we find this to be the most practical framework on how to actually live out their calling as Kingdom Business leaders. Entrepreneurs learn:

How to be Kingdom Business leadersby ensuring that their businesses match their God-given calling, how to remain personally and vitally connected to Jesus, and how to reflect God’s character even when faced with the most difficult ethical dilemmas How to use their time and talentto create a life-giving culture for their employees and steward their companies’ resources with God as their CEO

How to use their companies’ assetsfor the communities in which they work and to help employees, suppliers, and customers progress on their spiritual journey

When Alice Mukami began the Sinapis Academy, she managed one petrol station in Nairobi. After learning about franchise models, she began supplying other stations with petrol and expanded to three stations by the time the 16-week class ended! Despite this impressive growth, she said learning about Kingdom Business made the biggest impact on her life and business.

I am a Christian, but I’ve always separated business and Christianity. I never saw much connection. In Kenya, when you tell someone, ‘I’m a Christian,’ they think you are out to do shoddy business. Sinapis helped me learn that my business belongs to God. So it’s no longer mine, it is God’s. When I started saying no to bribes, God began connecting me with people who wanted to do business in a genuine way. When I came into Sinapismy spiritual capital was around 1%. If you said ‘there’s a deal coming, give me 5,000 shillings’ ($50), I would not even think twice. I’d pay you to get the deal. Now, I would say my spiritual capital has grown to about 51%. It’s a work in progress, but I am growing!

MAKING DISCIPLES

“I am the light of the world. Whoever follows me will not walk in darkness, but will have the light of life.” John 8:12

KINGDOM BUSINESS FRAMEWORK

An enterprise directed by the Holy Spirit and managed by a godly leader

That uses its time, talent, and money

To meet the spiritual and/or

physical needs of the community around it

to advance God’s purpose

PERSONAL & VITAL CONNECTION TO JESUS As the leader of this company, am I growing in my love for God and for people?

WISE STEWARDSHIP OF RESOURCES Does my company invest, spend and give as if all our resources belong to God?

Adapted from Gateway Church and Acton School of Business

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Building a sustainable business is typically a long-term endeavor in which exhilarating successes are mixed with unforeseen setbacks. A strong network of peers and mentors is invaluable in helping business owners to identify the right solutions and maintain the resolve to keep going.

Similarly, spiritual transformation most often comes as part of a steady, relational process that requires support from others. God designed the process of discipleship to occur in the context of intentional human relationships, and without accountability and encouragement, Kingdom Entrepreneurs can have the right knowledge

about God but fail to apply it in their businesses and day to day lives.

Because both business and spiritual growth require long-term engagement, Sinapis is building robust alumni networks in every location where we serve. When entrepreneurs join the 16-week Sinapis Academy, we surprise them by sharing that they have not joined an entrepreneurship course. They are joining a network and family of people like them. People committed to learning, committed to entrepreneurial success, and committed to expanding God’s kingdom.

ALUMNINETWORK

Recognizing that we could do more to strengthen the network, quarterly alumni events were initiated in 2016. We are thankful to report that the events have been a tremendous success! The agenda for each meeting has varied, but the early emphasis has been fellowship, structured networking, and highly practical discipleship training using a tool called Discovery Bible Study.

Continuing to serve the 750 entrepreneurs we have accelerated is one of our top strategic priorities in 2017-2018, and we are deeply excited to see how God continues to grow their economic and spiritual impact!

GOALS FOR OUR ALUMNI NETWORK:

• Provide ongoing business training from local and international experts• Create opportunities for networking and encourage Sinapis alumni to do business

together • Assist alumni efforts to raise capital• Offer practical ongoing discipleship training • Encourage our alumni to build new friendships and support one another

WHILE IT CAN BE TEMPTING TO THINK OF SUCCESSFUL BUSINESS LEADERS AS RUGGED INDIVIDUALISTS, A GROWING BODY OF RESEARCH INDICATES THAT SOCIAL CAPITAL IS ONE OF THE MOST OVERLOOKED KEYS TO ENTREPRENEURIAL SUCCESS.

Image: Sinapis alumni sharing during a recent speed networking session

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BRAZILSão Paulo

GHANAAccra

KENYANairobi

MombasaKisumu

DREAMS OF EXPANSION BECOME REALITY

We praise God for the opportunity to expand this year from one city to five and from one country to three! Significant progress is being made toward our vision of equipping 10,000 Kingdom Entrepreneurs across a global network. Sinapis’ expansion approach involves deepening our outreach in Kenya and partnering with mission-aligned organizations already operating in strategic cities in the developing world. These key cities are business and cultural centers and offer compelling opportunities for job creation, leadership development and disciple making.

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SERVING THE LOCAL CHURCH INTERNATIONAL CHRISTIAN CENTRE, MOMBASA

In our expansion to Mombasa, we were extremely blessed to partner with International Christian Centre (ICC). The senior pastor, Reverend Edward Munene, not only approved the partnership but also personally attended all 16 weeks of the Sinapis course and started integrating the Kingdom Business content into his preaching on Sundays.

Reverend Munene understands the power of Kingdom Business and is passionate about transformation throughout his community. He shared,

Where we live in the city of Mombasa, you can feel the impact of Islam in the businesses. In fact, they say that Islam is a way of life. So, you meet business people from the Islamic faith that live out

and practice their faith in their business. But you don’t feel that among the business community with Christians...and it’s that one area where we haven’t been a witness. I wish we had done Sinapis five years ago or ten years ago. I see Sinapis helping churches to build their people, disciple their people, and as this happens, there will be more jobs in the area. The economy in the areas where a pastor is serving will change. And the church will be able to do more mission and outreach in the community.

WITH OUR STRONG TRACK RECORD IN NAIROBI AND REVISED SINAPIS ACADEMY CURRICULUM FEATURING POWERFUL CASE STUDIES DESIGNED FOR KENYA, WE EXPANDED TO THE PORT CITY OF MOMBASA AND TO KISUMU IN WESTERN KENYA. THESE ARE THE SECOND AND THIRD LARGEST CITIES IN THE COUNTRY WITH SIGNIFICANT OPPORTUNITIES TO TRAIN UNSERVED ENTREPRENEURS.

Local churches were essential partners who helped us promote the program as an outreach to their churches and communities. Our staff led a series of workshops in each city where hundreds of prospective Sinapis Academy students attended, and of these, 47 were admitted and completed the full 16-week program.

As this was our first expansion effort outside Nairobi, we learned several important lessons:

• The Sinapis Academy curriculum and trainers were a success in new cities! Students reported strong feedback scores for trainer effectiveness and curriculum quality.

• In markets less familiar with entrepreneurship accelerator programs, it is even more important to have local pastors and prominent entrepreneurs endorse the effort.

• Regional markets in the same country can differ considerably. Attracting committed entrepreneurs was much easier in Mombasa than Kisumu, and focus groups in Kisumu indicated that students were less familiar with entrepreneurship accelerators and had historically been paid stipends from other organizations to attend business trainings. This dynamic made it more challenging for us to achieve a typical class size in Kisumu, since we charge entrepreneurs for the Sinapis Academy.

BECAUSE THE LOCAL CHURCH PLAYS A CENTRAL AND IRREPLACEABLE ROLE IN GOD’S KINGDOM, SERVING LOCAL CHURCHES IS A CORE COMMITMENT FOR US.

DEEPENING OUR ROOTS KENYA

“And these words that I command you today shall be on your heart. You shall teach them diligently to your children, and shall talk of them when you sit in your house, and when you walk by

the way, and when you lie down, and when you rise.” Deuteronomy 6:6-7

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Obed Bamfo is a 20-year-old engineering student with a vision to build a major clean energy company in Africa. His company, BioGreen Ghana, upcycles some of the abundant agricultural waste in Ghana, such as coconut shells, into sustainable charcoal. His briquettes are more efficient and less expensive than traditional wood-based charcoal. They are also significantly better for the environment and the health of those who use them. Sinapis’ partner in Ghana, Innohub, found Obed at a competition for startups where BioGreen won an award for “most innovative startup.” At the time, BioGreen had only developed a prototype, which it was making by hand and giving away for free to get people to try the product. The target market was low-income households in rural and semi-urban areas on the outskirts of Accra. Innohub helped BioGreen land a $20,000 seed investment in order to purchase equipment, further develop the product and purchase raw materials. The Sinapis Academy course was a natural fit to help Obed develop the entrepreneurial capability he would need to grow and manage the business and served as the perfect platform to accelerate the progress of the company.

Sinapis has been a blessing to me. I’m very young and don’t have lots of experience in entrepreneurship. Sinapis introduced me to lots of things and really opened me up. It’s going to save me from making lots of mistakes. As a result of the rigorous market research and segmentation performed during the Sinapis Academy program, Obed realized there was a lack of demand in the market to which he was selling and that he wasn’t focused enough in his segmentation. However, he identified a significant opportunity among wholesale buyers in export markets such as Dubai and Indonesia, and has now cultivated customers there with demand of five containers per month.

Domestically, he found demand among poultry farmers as well as a need for eco-waste collection. He created a waste management subsidiary that allowed him to reduce his unit costs, create additional revenue, and charge customers to collect their waste, some of which then serves as raw material for the clean charcoal business. Obed also improved the packaging, optimized pricing, introduced product improvements that allow for quick-lighting, purchased a new machine to automate a manual process, and is currently focused on moving to a larger scale factory to increase capacity and efficiency to meet the demand from the buyers he found in Dubai and Indonesia. The Sinapis Academy also taught Obed how to empower staff and manage them.

I used to do everything. After Sinapis, I’ve learned to delegate things to people for them to do. One of my workers is now the production manager. I now allow other people to handle work in BioGreen.

SCALING GLOBALLYGHANAIN APRIL 2017, SINAPIS LAUNCHED ITS FIRST GLOBAL PARTNERSHIP IN ACCRA, GHANA. ACCRA IS ONE OF AFRICA’S HOTTEST ENTREPRENEURSHIP ECOSYSTEMS AND IS SECOND ONLY TO NAIROBI IN ATTRACTING FOREIGN DIRECT INVESTMENT.

ON THE COVER

OBED BAMFO

However, the country still suffers from pervasive poverty and high unemployment, especially among youth. Only 2% of college graduates find formal sector employment. Spiritually, Ghana is predominantly Christian, yet it has rampant corruption and needs passionate Kingdom Business leaders who are equipped to disciple others to integrate their faith with the marketplace. Our partner, Innohub, is a business accelerator and impact investment platform. The organization’s vision is to build a pipeline of high growth start-ups and Small and Growing Businesses (SGBs) through its acceleration, market entry & growth consulting, and capital raise support services. In two years of operation, Innohub has worked with over 100 businesses, assisting with business development and helping raise $100,000 in total seed capital. Innohub’s executives have held previous roles at EY (Ernst and Young), MTN, Youth Bridge Foundation, Vakmet Capital, and Nestle Ghana. The co-founders have also earned advanced degrees from the London School of Economics and Imperial College London.

Partnership between Innohub and Sinapis brings great mutual benefit. Innohub has rich knowledge of the local market, a robust local network, and a strong reputation for entrepreneur support. Sinapis provides our proven Sinapis Academy curriculum, which now serves as a core component of Innohub’s training and accelerator programs. Sinapis also provides expertise gained from training more than 750 entrepreneurs, knowledge and resource sharing among a growing global network, and access to catalytic grant capital. Most importantly, we both share a passion for poverty alleviation through the power of entrepreneurship and for discipling entrepreneurs to be ambassadors of Christ in the marketplace. The first class had 17 entrepreneurs and went extremely well with participants from diverse sectors including agriculture, manufacturing, IT, professional services and retail, among others. The entrepreneurs formed a very tight community, exhibited a high degree of satisfaction with the program, and are already experiencing transformation and growth!

image: Entrepreneurs celebrate the launch of the first class in Ghana

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SPANNING CONTINENTSBRAZIL

He also learned to write a business plan properly, do the financials, and pitch to investors, all of which will be valuable as he continues to grow the business.

Obed is motivated by a desire to contribute to environmental sustainability, social impact, and the Great Commission.

In the future, he would like to provide clean charcoal to domestic mass-market consumers, many of whom currently suffer from lung and respiratory diseases associated with breathing smoke from burning firewood. This will also help women, who will no longer need to go cut trees and walk long distances with firewood. Obed recruited most of his workers from his local church. They meet together for prayer and missions outreach on Fridays before going to work. His faith

is an important motivator for business success as he intends to use the profit from BioGreen to support church growth and the spread of the gospel. Obed believes BioGreen can serve 10% of Ghana’s charcoal market within the next 5 years while building up a major export business. He envisions BioGreen becoming a leader of green energy production in Africa.

Entrepreneurs like Obed are abundant across emerging markets like Ghana. They’re innovative and hungry to grow substantial businesses that create significant social and Kingdom impact. With the right training, support and access to capital, they can contribute meaningfully towards economic development, be a witness for Christ and fight corruption in markets in desperate need of spiritual transformation.

If you want to produce one bag of charcoal, you have to cut one tree. We’ll be saving the country from losing lots of trees and helping to reduce greenhouse gases as a result of less deforestation as well as saving the animals that live in those trees.

Bluefields is an entrepreneurship accelerator that is using the 16-week Sinapis Academy curriculum as a backbone of their comprehensive accelerator, “The Big BaM.” The accelerator offers entrepreneurs a network of strong local mentors, leadership training, execution support, and assistance with raising capital. In addition to Sinapis, the Big BaM is offered in partnership with Mackenzie University, one of the top Universities in Brazil, and Emory University’s Goizueta Business School.

The organization is led by co-founder and CEO Paulo Humaitá. Paulo is an economist by training with a successful background in biotechnology. However, in 2014 he felt a clear call by God to develop a Christ-centered business accelerator to equip Kingdom Entrepreneurs in Brazil and to serve in places in the world that are closed to the gospel. Rather than create Bluefields from scratch,

Paulo searched for a like-minded partner with experience in this space. After concluding his search, Paulo remarked,

I evaluated many organizations who are equipping Christian entrepreneurs, and I have no doubt that Sinapis is the best organization doing that globally.

The entrepreneurs selected for Bluefield’s first cohort are operating a variety of exciting companies that include a fintech payments platform that allows churches and nonprofits to more easily and quickly accept donations, an agribusiness making products to enable urban agriculture led by the son of one of Brazil’s most successful commercial farmers, and a Christian Syrian refugee seeking to help other refugees with a marketplace startup. We thank God for this partnership and opportunity to serve together!

OUR PARTNERSHIP IN SÃO PAULO, BRAZIL WITH BLUEFIELDS DEVELOPMENT OFFICIALLY LAUNCHES IN AUGUST!

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THEORYOF CHANGESinapis supports entrepreneurs with innovative, scalable business ideas by providing intensive business training, access to financing and exposure to Christ-centered business principles that equip them to triumph over ethical challenges.

As these entrepreneurs become successful in business, they create sustainable jobs and help alleviate poverty. With this success comes greater societal influence to transform the business culture for the glory of God and the opportunity to disciple others to do the same.

96% indicate they learned something that saved their business from failure

85%feel that a majority of their employees know what a Kingdom Business is and could describe it to others

77%of those asked to accept or pay a bribe refused as a direct result of what they learned in Sinapis

6,497total beneficiaries from jobs created

1,624 new jobs created

50% average growth in revenue (CAGR)

387% average growth ininvestment capital raisedone year after the program

83% say the Sinapis program had a significant impact on current business results

1. NurtureKingdom

Entrepreneurs

20% indicate that someone has become a Christian because of their Kingdom Business

2. They build Kingdom

Businesses

3. Which contribute to

economic development

4. Help transform business culture

& society

5. And influence others to

integrate faith & business

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IMPACT HIGHLIGHTSTHIS YEAR WE TRAINED 267 ENTREPRENEURS IN KENYA AND GHANA AND HAVE NOW TRAINED OVER 750 ENTREPRENEURS

Increase in the number of entrepreneurs served year over year

new jobs created supporting over 6,500 people economically

1,624

63%

of our entrepreneurs said Sinapis significantly strengthened their faith and 75% said it completely changed their mindset on how their faith relates to their business

new businesses created

of participants agree that Sinapis content was very relevant to their business

in total investment capital raised by entrepreneurs

average revenue growth of a Sinapis entrepreneur one year after the program

said that they recommended Sinapis

to another entrepreneur

143%

232

98%

$17.8MILLION 78%

of Sinapis entrepreneurs have an active discipleship and community impact program in their company

52%

MINDS

HEARTS

96%

say that they turned down or refused to pay a bribe as a direct result of what they learned in Sinapis

77%

said they learned something that saved their business from failure

96%

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96%

%average growth in revenue (CAGR)

total beneficiaries from jobs created

say that someone has become a Christian through their Kingdom Business

have an active discipleship or community impact program in their company

entrepreneurs Kingdom Business

message has been spread to

feel a majority of their employeesknow what Kingdom Business is

and could describe it

number of people each entrepreneur has spread Kingdom Business message to

have recommended Sinapis to another entrepreneur

of those asked to accept or pay a bribe refuse because of what they learned

say someone’s faith was strengthened through their business

media mentions for Sinapis

entrepreneurs

new products/services added to the domestic economy

investment capital raised by Sinapis entrepreneurs

created by Sinapis entrepreneurs

in revenue from exports by Sinapis entrepreneurs

MILLION in total annual revenue generated by all Sinapis

entrepreneurs

of entrepreneurs who did not have a business prior

had one after the program

average growth in revenue one year after training

average growth in investment capital raised

one year after the program

new businesses created during or after Sinapis

of alumni say they are actively following their spiritual integration plans

average growth in team size one year after training percent of companies still

in business three years after training

percent of participants agree that Sinapis content was very relevant to their business

of participants agree they can now apply content to their business

of participants’ faith was significantly strengthened by

participating in Sinapis

of alumni say the Sinapis program had a big impact

on current business results

are likely to reccommend Sinapis over a traditional MBA to a fellow entrepreneur enterprises

accelerated

report completely changed mindsets in terms of relating faith to business

IMPACT DASHBOARD

2. THEY BUILD KINGDOM BUSINESSES 3. WHICH CONTRIBUTE TO ECONOMIC DEVELOPMENT

indicate they learned something that saved their

business from failure 93

%78%

83%

ninety-eight 75%

96

%

752

4

55

3

$16.1

6,497

$17.8M

1,624 NEW JOBS

$3.4M

54%

387%

83

%

sixty- two

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143%

232

109%

4,45085%

96

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8new jobs created per entrepreneur

52%77%

75

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568

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CHRIST-CENTEREDACCELERATOR MOVEMENT

MULTIPYING IMPACT WITH A MOVEMENT

We are providing our curriculum, toolkits, manuals and knowledge developed over six years to others that want to customize our content to start a Christ-centered accelerator in their own country or context. We have seen an overwhelming desire from highly qualified Christian business professionals in all regions of the world to do this in their own countries.

TOOLKITS/RESOURCES

CONVENERSWe are building a global network and plan to convene leaders of Christ-centered accelerators to learn from one another, share resources, and co-create new solutions.

We will test new ideas in Kenya and across multiple regions throughout the network. Tests will be performed to determine scalability and potential for impact.

Thought leadership and research on what works in Kingdom Business support will help everyone scale the learning curve faster, adopt best practices and work more efficiently.

We want to provide a place where world-class Christian talent can get involved in the movement and help Kingdom Businesses grow and scale.

We are facilitating investment capital between sources of Kingdom-oriented impact investment capital and the highest potential Kingdom entrepreneurs. We have ideas ranging from global showcases, to syndicating and brokering deals to a dedicated platform or investment fund.

INNOVATION LAB

INVESTORS

TALENT ATTRACTION

RESEARCH

This year marked our next major step toward our vision of building a movement of Christ-centered accelerators. We want to create a movement because the world’s need for job creation demands a dramatically more scalable solution than we could generate by replicating our own program through organic program growth.

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ON THE HORIZONAs we look back over this year, we are filled with gratitude at what the Lord has done. Growth and new opportunities to serve are gifts that we do not take for granted. Along the way, God’s faithfulness has been evident in so many circumstances where He has guided our steps and provided the resources we’ve needed to begin scaling a global movement. He also has brought together an amazing community of staff, board members, donors, entrepreneurs, churches, and investors with passion for this mission. As we thank each one of you for your partnership, we are reminded of the apostle Paul’s words in Philippians 1:3-6:

“I thank my God in all my remembrance of you, always in every prayer of mine for you all making my prayer with joy, because of your partnership in the gospel from the first day until now. And I am sure of this, that he who began a good work in you will bring it to completion at the day of Jesus Christ.”

Looking ahead, our conviction only grows stronger that the marketplace is the greatest untapped opportunity for God’s kingdom in the world today. For this coming year, we will focus on five strategic themes for Sinapis:

• Abiding more deeply in Christ. We believe that every significant endeavor in God’s kingdom is empowered by His Spirit and is rooted in prayer. We are committing to boldly ask Him to break down strongholds of poverty and corruption and transform thousands of lives in the process!

• Building upon our foundation in Kenya, Ghana and Brazil. Maintaining outstanding impact outcomes in our existing countries of operation is mission critical. Expansion to new markets only occurs as we remain confident that lives are being changed where we already serve.

• Pursuing new country expansion. Because the scope of global needs is staggering, we unapologetically desire to serve more people. We plan to expand to Kampala, Uganda in the first quarter of 2018 and will carefully consider other major cities containing mission-aligned partners, strong entrepreneurship ecosystems, and compelling opportunities for disciple making.

• Building a next level global accelerator. The highest potential growth stage companies have different needs than those at the idea or early stages. To support the best entrepreneurs from our growing global footprint, we will develop a powerful network of international impact investors, consultants and mentors, and export partners.

• Deepening the economic and spiritual support offered to alumni. We want to see every member of our alumni network continue to expand their knowledge, scale their business, and grow as a disciple who makes other disciples. When thousands of Kingdom Entrepreneurs live out this calling, communities and nations can be transformed!

If you want to be part of this great harvest that the Lord is bringing about in the marketplace, please join us! If you have questions or would like to talk about how your unique gifts and passions could fit into this movement, it would be a joy to connect with you.

Blessings,

MATTHEW ROHRS Chief Executive Officer matthew@sinapisgroup.org

A MESSAGE FROM OUR INCOMING CEO

www.sinapis.org