We are excited to announce our partnership with IKEA Foundation as part of their expanding focus on social entrepreneurship. The €3 million partnership will run over three years to dramatically expand opportunities for social entrepreneurs and the communities they serve, as well as to grow a community of practice among the intermediaries and investors that make pathways to scale possible.
The partnership will be based on the shared priority of learning between the organisations. Since 2011, Yunus Social Business has built an extensive track record of supporting and growing social businesses across the globe, including in Kenya and India. The key focus of the partnership will be exploring how social businesses drive employment in developing economies, and how we can crowd in further resources and support for the most successful enterprises through different blended finance approaches.
Entrepreneurs who put social issues—such as job creation, health and education—at the centre of their business models can help lift communities out of poverty but they need support and access to finance to do so. With IKEA Foundation’s support, Yunus Social Business will expand a mix of local and global approaches to support entrepreneurship. Locally, we will deliver further hands-on business development support with our experienced local teams in Kenya and India. Globally, YSB will expand our ecosystem building work, leveraging our existing work in the sector and complementing the work of our peers and fellow investors.
Social enterprises are driving innovation to find more efficient solutions to end poverty, but they need support to access finance that suits their needs and build strong, resilient businesses. The partnership with IKEA Foundation will create a platform for engagement where we can collaboratively build up the sector, harnessing the power of business to end poverty.
Together we will support more than 130 social entrepreneurs to grow their businesses, enabling them to reach many more people with their products and services and improve the incomes of 100,000 women and young people in their communities.
We spoke to Molly Burke co-founder of Cycle Connect, our latest investment in our Ugandan Fund. Cycle Connect provides rural smallholder farmers with the necessary tools to propel them out of poverty.
Earlier this year we took a group of philanthropists and partners to visit some of the social businesses in our portfolio in Uganda including Godson Commodities, Impact Water & Tugende. We also visited Kenya to see some of our pipeline companies.
Check out our new video telling the stories of rural farmers! They provide higher incomes and safe jobs for rural farmers in Colombia. They work in areas affected by armed conflict growing baby vegetables and edible flowers. 🌱 🌿 🥕🌷 🌹
Once the dust has settled, the Covid-19 outbreak may fundamentally shift everyone’s professional lives. Even before the pandemic, there was a rising demand for more flexibility in the workplace and now with its recent mass scale experimentation, remote work may become the new normal. If that is the case, HR will have to evolve ‘remotely’ and become essential to any small or large business’s conti
Everyone hates having to stay in all day to wait for a parcel delivery. Well, imagine if you could choose the exact time of your delivery and at the same time provide employment opportunities for vulnerable populations (for example disabled people or refugees) in your local neighbourhood whilst reducing CO2 emissions.
At the halfway point through the program we find ourselves sitting back and reflecting over the last five months. And what a fine journey of progress and development it’s been. We’ve seen our entrepreneurs learn and share all sorts from methodologies to frameworks to general advice about life and business.