Sharing success

A serial entrepreneur who has sold her businesses for millions, US-based Anu Shah redefines the image of success by donating her fortune and skillset to those in need.

Anu Shah (MBA 2012) is clear on what matters most: “I derive joy from giving and impacting on people’s lives,” she says. “Not counting money.”

It’s a remarkable outlook from a businesswoman who sold her first tech startup – EFI Hub, a virtual startup accelerator which supports fledgling businesses in Asia and Africa – for $10 million and donated her proceeds to the United Nations High Commissioner for Refugees (UNHCR). But for Anu, a woman shaped by humble beginnings, “it wasn’t a difficult decision”.

She traces her accomplishments back to her first job as a 21-year-old in a Mumbai call centre: “When you start at the very bottom, you learn how to form emotional bonds with people. Unless you can connect with others, it’s hard to succeed at any level in business.”

That, and a relentless drive towards her goal, meant Anu soon built on her $40 savings. “I came from a culture which held women back. My sole focus was to make my own life choices and for that I needed financial independence.”

Emancipation also meant access to education, and freedom to see the world. Anu’s opportunity came with the offer of an MBA at Leeds. She didn’t hesitate to accept, but resistance at home meant she arrived in the UK almost penniless. “My brother’s education was considered more important than mine. I was ostracised, and that motivated me. I couldn’t afford to fail, or I’d be a laughing stock.”

At Leeds, Anu entered business competitions with prize money attached to help her get by. She joined societies, learned Spanish “in case the opportunity came along to work in Europe”, ran the Leeds Indian Student Association, and studied hard. “I made the most of my time at Leeds. Succeeding as an immigrant gave me the confidence I needed.”

The foundation set for a global career, roles followed at Ernst & Young, AT Kearney and Acorn Capital in Singapore, Dubai, and London, before Anu enrolled for further study at Harvard.

But even then, a business trip to Rwanda in 2016 where she met the CEO of a craft brewery played on Anu’s mind: “She was the victim of domestic abuse, yet she stood against the odds to build her business, and was committed to empowering other women in the community, too.

“I had the idea that I could replicate a Silicon Valley model – where promising entrepreneurs receive funding and support, and it is easier to scale up – and apply it to help businesses like hers in emerging and frontier markets.”

“Humbling” months volunteering at refugee camps in Africa reinforced Anu’s desire to use her business acumen for good. Such was her conviction, she dropped out of Harvard to pursue the new venture and founded EFI Hub.

“It was difficult,” she says. “As a first-time entrepreneur in tech, it is hard to get buy-in from your own employees, let alone investors.” Anu applied the same diligence that had taken her so far. All the while she continued to support causes close to her heart, joining the board of the America India Foundation, raising $2 million to support girls’ education and reduce infant mortality in India. After the growth and sale of her business, there was no question where to put the proceeds.

“Successful entrepreneurs tend to become venture capitalists and invest in other startups. But if we can use capital and skill to support others, to encourage further study, or help them reach the next platform, that’s a unique gift we can give. I had no aspirations to become a millionaire, and my experiences taught me that having an impact on lives is the most important thing.” Her final gift to UNHCR amounted to $7 million.

Anu has replicated her entrepreneurial success with two further startups, alongside volunteer roles at the UN supporting youth gender equality and the status of women in developing countries. She gives time to support fellow female entrepreneurs on various programmes by mentoring, delivering seminars and consulting.

In 2021, Anu joined Facebook as a product manager, an opportunity to “finesse” her skillset by working alongside top mentors. But after all the accolades, which include becoming the first Leeds winner of the British Council Global Entrepreneur Award, is she motivated to return to entrepreneurship any time soon?

Anu smiles: “These are small building blocks. I am still working towards that defining thing which will leave a true legacy in the world.”

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