Grameen Foundation, a global non-profit organization based in Washington, DC, was awarded the 2009 Duke’s Choice Award from Sun Microsystems for its open source technology, Mifos. Mifos won under the category, “Best Java Technology for the Open Source Community.” An open source software program means the source code is accessible and the software is freely redistributable. Grameen Foundation was established in 1986 and has assets totaling USD 25.0 million as stated in its 2008 annual report. Sun Microsystems is a technology company founded in 1982 and based in Silicon Valley, California with assets worth USD 14.3 billion according to its 2008 annual report. Grameen states that this is the first Duke’s Choice Award for both Grameen Foundation and a microfinance-focused technology initiative.
The Duke’s Choice Awards program recognizes the year’s most influential Java technology-based applications submitted by developers and companies from around the world. The winners are chosen by Vice President and Sun Fellow James Gosling, along with a panel of Java technology experts at Sun. Sun created Java, a cross-platform programming language used to create applications for computers, web browsers, mobile phones, and other consumer electronic devices.
Mifos is a Grameen Foundation’s Technology Center initiative to build an open source technology platform for the microfinance industry to deliver financial services to the poor. Launched in 2006 as a community-driven platform, Mifos is a web-based management information system (MIS). Mifos supports loan and savings portfolio management, centralized operational reporting, social performance measurement, and can be integrated with other technology solutions. Using a Java platform, the Mifos web-based management information system aims to increase access to technology for microfinance institutions (MFIs). An MFI can freely install and customize Mifos without paying a licensing fee. It also attempts to address the size, scalability, and reliability requirements needed by MFIs. Currently, participants employing the Mifos platform include Grameen Koota, Jitegemea Credit Scheme, ENDA, and SECDEP. See here for past coverage on Mifos on MicroCapital.
Grameen Foundation, as a non-profit organization, works to replicate the Grameen Bank microfinance model through a global network of partner microfinance institutions. Started in 1976 by Nobel Peace Prize Winner Professor Muhammad Yunus, Grameen Bank serves more than six million poor families with loans, savings, insurance and other services. The MIX Market, the microfinance information clearinghouse, reports that Grameen Foundation has established a global partner network of 55 microfinance institutions. According to the company’s most recent financial statements, as of March 2008, Grameen Foundation had total revenues of USD 21.9 million, and total expenses of USD 16.7 million. To read more MicroCapital stories about Grameen Foundation, click here.
Sun Microsystems is a maker of servers that are used to power corporate computer networks and websites. It also makes workstation computers and disk and tape-based storage systems. Its software portfolio includes application servers, database management, office productivity, and network management applications. As of June 2008, according to its annual report, Sun has a total revenue of USD 13.9 billion and total operating expenses of USD 6.1 billion.
By Uyen Tran, Research Assistant
Additional resources:
Grameen Foundation: home; Award press release; MIX Market
Mifos: home
Sun Microsystems: home; press release; 2008 Annual Report
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