Yunus Social Business and Upaya Social Ventures Join Forces for the 2022 Accelerator Programme to Support Early-Stage Businesses in India

Yunus Social Business and Upaya Social Ventures Join Forces

September 9, 2021

Yunus Social Business (YSB) and Upaya Social Ventures (Upaya) today announced the launch of their 2022 Accelerator Programme to help small and growing businesses (SGBs) in India scale and create jobs to lift people out of extreme poverty. YSB and Upaya will bring together their combined expertise in building businesses to offer a programme that brings essential knowledge, capacity, and networks to early-stage entrepreneurs, equipping them with the tools to access investment, grow their ventures and build business resilience.

Millions of people in India have lost their livelihoods during the Covid-19 pandemic. The second wave, alone accounted for 10 million job losses, as per the Centre for Monitoring Indian Economy (CMIE), and 87% of informal workers lost their livelihoods over 2020-21. Despite the challenges, small and growing businesses continued to provide hope for India’s socio-economic development by employing from and/ or catering to low-income and marginalised communities. On the road to recovery - to rebuild and resume normalcy - the case for supporting small and growing businesses is stronger than ever before. SGBs have always been major contributors to India’s socio-economic development, and are still in a unique position to fill the gap created by the pandemic through innovation and socially-driven business models.

United in the shared vision of creating scalable livelihood opportunities by supporting social businesses, YSB & Upaya are partnering to launch the 2022 Accelerator Program. The partnership aims to optimise both organisations' rich experiences and expertise to develop a rigorous, hands-on accelerator program for early-stage social businesses.

“Social businesses over the last year have faced severe hardships, despite which they have not drifted from their mission of sustainable job creation,” said Suresh K Krishna, Country Manager, Yunus Social Business India. “Creating jobs that are pandemic-proof will be the key to economic recovery, and YSB’s mission is to support social businesses creating these jobs via financial and non-financial support.”

YSB brings to this partnership its long-standing experience of financing and capacity-building of social businesses across India, East Africa, and Latin America as well as a global network of experts and mentors. Upaya has been running its accelerator program for six years and brings to the partnership its learnings and hands-on expertise in building investment-readiness capacity for early-stage businesses.

“At Upaya, we have always focused on growing the enterprises that have the highest potential to create jobs to lift families out of poverty,” said Kate Cochran, CEO of Upaya Social Ventures. “As we look to a post-Covid future, there is nothing more urgent than helping entrepreneurs grow their businesses, so they can create jobs at scale, enabling individuals to earn dignified and reliable livelihoods.”

Both organisations work with early-stage entrepreneurs to create new jobs or livelihood opportunities for people in need, and, through the YSB & Upaya 2022 Accelerator, will position the cohort entrepreneurs to take on investment and scale their businesses. Taking place over five months, the programme will unite industry experts, business leaders, and investors to equip participants with the knowledge and tools to access investment and grow their ventures. Participants will also receive tailored training in strategy, fundraising, investment readiness and impact management, as well as customised individual support from the Upaya and YSB teams.

“Upaya is thrilled to have joined hands with a mission-aligned partner in Yunus Social Business for the upcoming 2022 Accelerator Program,” said A B Chakravarthy, India Country Director at Upaya Social Ventures. Upaya and YSB have complementary expertise and networks to offer in nurturing and growing early-stage businesses. We believe that early-stage enterprises who are going to be part of the programme will immensely benefit from the global perspectives and India experience that both organisations possess.”

As part of the program, entrepreneurs will have the opportunity to pitch their businesses to investors. Up to three participating enterprises will have the opportunity to raise USD 50,000 from Upaya. In addition, YSB will screen participating businesses for potential debt investment of up to USD 150,000.

The Upaya & YSB 2022 Accelerator cohort will consist of eight to 12 entrepreneurs who are leading early-stage enterprises in India that are focused on creating livelihood opportunities for people living in extreme poverty. The selection criteria will identify revenue-generating for-profit companies that show traction and market potential but have raised no more than USD $50,000. The companies should show potential to scale and create 1,000 jobs over seven years. Applications for the programme will be accepted through www.upayasv.org/accelerator from September 15 to October 15, 2021.

Previous post

There is no previous post

Next Post

There is no next post

Yunus Social Business Turns 10 Years Old!

6 Female Founders Changing the World with Social Business.

We are delighted to share the Yunus Social Business 2018 Impact Report.

We've been featured in the Hauck & Aufhäuser Magazine (German)

The Need of the Hour Amid COVID-19

Join Yunus Social Business on the Global Climate Strike this Friday!

Why Now? Is the Social Business Movement Reaching A Tipping Point?

Ist „#Social“ das neue „#Digital“? Unsere Gründerin Saskia Bruysten schreibt in Capital Magazin

We are delighted to share the Yunus Social Business 2018 Impact Report.

What are the Yunus Social Business team listening to? We list our favourite podcasts.

Remote Work is Here to Stay

It goes without saying, we are living through unprecedented times.

Corona Pandemic: Time Is Running Out Fast, A Letter From Prof. Muhammad Yunus

Thinking Ahead: Securitization Structure Helps to Democratise Technical and Medical Education in Bra

Yunus Social Business Co-Initiates New Alliance With World Economic Forum to Help Social Entrepreneu

“Going Back to That World Is Equal to Committing Suicide.” - Professor Muhammad Yunus on the Opportu

Amidst the COVID-19 Crisis, MBA Students Go Online to Support Our Social Businesses in India

“I Was Truly Blown Away When I Heard the News” - Yunus Social Business Has Distributed 650k USD to H

The Quick Social Business Christmas Gift Guide

Read Our Latest Impact Report

The Life-Savers Now Need Saving

COVID Response Alliance for Social Entrepreneurs, Initiated by YSB and WEF’s Schwab Foundation

Building The COVID-19 Response Alliance for Social Entrepreneurs

Fuelling social-business entrepreneurship in Kenya and beyond

YSB Launches Coursera Courses: Education For A World of Three Zeroes

Yunus Social Business and the Schwab Foundation for Social Entrepreneurship partnership

Your mission is bigger than your job.

Living Up To Our Mission: Our 2020 Annual Report

Yunus Social Business Partners With Ikea Foundation to Empower Social Entrepreneurs in Developing Ec

We are excited to announce our partnership with IKEA Foundation as part of their expanding focus on social entrepreneurship.

Yunus Social Business Kenya Launches Investment Readiness Programme 20/21

This is for growth-stage businesses that seek to solve a social problem. We are looking for businesses that want to level up and become ready for investment. Social Businesses that seek to apply to the programme should be generating revenues of around US$250,000.

Supporting Growth. How does YSB support one waste management social business in Brazil?

A social business needs to deliver results in three core areas; social impact, financial sustainability, and organisational resilience. But in order to mature in these areas businesses need more than just capital; they also require non-financial support, training and access to networks.

Meet the car of the future : environmental and practical

If I told you that the key to a greener city looked like a lego-style cubic car that could be assembled like IKEA furniture (well almost)… would you believe me? Whilst Elon Musk's view of the future is made up of bullet proof steel, the french startup, XYT is building a future built on inclusion, simplicity and functionality.

Launching the Unusual Pioneers, a platform to propel social intrapreneurs to success.

Unusual Pioneers is a platform for corporate leaders and social intrapreneurs turning business into a force for good. Established by Yunus Social Business, The World Economic Forum’s sister organisation, Schwab Foundation for Social Entrepreneurship, and Porticus.

MIA Spotlight: The Solar Powered Motorcycle for Africa

Find out how going electric can create jobs, increase a driver’s income, provide a lower carbon emissions transport option and revolutionise the boda boda industry in East Africa.

Cookie Consent

We use cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our cookies usage.