The Need of the Hour Amid COVID-19

‍Bear in mind that this is a mere crowdsourced attempt at mapping issues & solutions, and that we’re very much looking forward to any contribution! Instructions to use the airtable, please click on Block to see image.

FOR CORPORATES

If you are an inspired individual working with a Corporate, and seeking ways of using your assets to meet society's needs, very excited to have you here!

On this Airtable you will find :

1. Challenges : You will find 64 individual challenges, broadly focussing on the challenges we have collated from different Geographies, mostly via our own YSB network
2. Descriptions : Our understanding of these challenges, to ensure the reader and creators are on the same page
3. Solutions : Creative first MVP of solutions that the local community can envision, and already existing solutions that are being implemented by Social Entrepreneurs
4. Country : Where our teams did research around these problems. This list is not exhaustive, the Challenges could exist in multiple countries
5. Category : Which area does this challenge have the biggest impact on
6. Sector Support : Out of our research on the challenges, which sector has the asset to provide assistance on this challenges

Next Steps

If you recognise any of these challenges and would like to work towards finding solutions to them, please reach out to  arunima.singh@yunussb.comIn our years of work with Social Entrepreneurs, we have the privilege of knowing Entrepreneurs who are actively working towards solving each and every one of the listed challenges. We would be happy to connect you and think of ways of scaling these solutions. Why aren’t we sharing that publicly? Because despite the crisis, we still value data privacy (& entrepreneurs’ resources) :)

FOR SOCIAL ENTREPRENEURS

If you are one of the inspiring Social Entrepreneurs we continuously rave about, HELLO!  Stay strong and inspired, we need you more than ever.

If you are solving any of the challenges mentioned in the list, please reach out to us at solene@yunussb.com. We would love to hear from you, and see where we can join forces.

In the meantime, please also have a look at Duke’s Catherine Clark’s extensive list which gives details of the $363 billion worth of support for entrepreneurs around the world.

COVID Rapid Response Fund

From Yunus Social Business’s side, we are all hands on deck to ensure the social entrepreneurs and experts who are solving these challenges find the right support and partners.

We see the need for developing a rapid response mechanism through a sector alliance to benefit social businesses and social entrepreneurs across the world. Such an alliance of sector organizations and funding partners can efficiently organize emergency financial relief to social businesses and social enterprises.

We expect such relief to emulate government action for financial emergency aid in the Global North. While we see an immediate need for rapid deployment of grants to secure short-term liquidity, we also imagine the deployment of other vehicles in a second phase.

Why this matters: Close Ranks to Weather this Crisis

• Be part of a coalition: Mobilize more capital by acting as a coalition of sector partners instead of individually reacting to issues on the ground
• Coordinated response approach: Current action is uncoordinated and likely to fall short of the impact it is trying to achieve due to inconsistent deployment criteria and/or low funding volumes.
• Access to a network of trusted social businesses: Deploy much-needed capital quickly through organizations that are trusted by funders.

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We therefore call on philanthropists, foundations, impact investors, corporate foundations and other social sector organisations to unite in supporting social businesses through this Covid-19 crisis.

If you are interested in supporting the Response Fund please reach out to flora.drozak@yunussb.com

I hope our MVP’s and thoughts sow the seeds of inspiration and impact we need at the moment. Forward and upward!

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