Yunus Social Business - Global Initiatives

The goal of the YSB, founded in 2011 by Muhammad Yunus, Saskia Bruysten and Sophie Eisenmann, is to repeat the social business model proposed by Professor Yunus for developing countries ^{[2] [3]} . Focusing on providing financial and business support to social enterprises outside of Bangladesh , the fund focuses on financing companies that provide either income or basic products and services for the poor ^{[4] [5]} . Yunus Social Business is an international mechanism for implementing the concept of social business of Professor Yunus ^{[6] [7]} and operates on the same principles as the social enterprises that finance it, in particular the social business model.

Now ^{[ when? ]} YSB operates in several countries: Albania , Brazil , Colombia , Haiti , India , Tunisia and Uganda ^[8] . The local teams of these countries are focused on finding and searching for networks, communities and individual social entrepreneurs or existing enterprises built around a strong social mission. Promising social companies that have the potential to expand rapidly can apply for funding or an acceleration program to get help preparing for the investment. ^{[ significance of fact? ]}

Acceleration Programs

YSB uses social business acceleration programs in several countries. The programs are designed to refine and test business models, identify the market early and also identify and measure social performance indicators. These short programs, which last from 1 to 3 months, offer social entrepreneurs the opportunity to strengthen their business acumen through seminars, leadership training, and access to international and local mentor networks. Enterprises that join the accelerated program are usually at the prototype or early income stage and need little but significant financial assistance to test their prototypes, increase their productivity and / or increase production. ^{[ significance of fact? ]}

Social Business Fund

High-potential social entrepreneurs coming out of the acceleration program can apply for financing and business support. At the end of the acceleration program, entrepreneurs pass on their ideas to the YSB Investment Committee and individual social companies can receive seed capital from their social business fund in the country. The amount of social impact investments ranges from 100,000 euros to 1,000,000 euros. Financing is carried out in stages, based on achievements and key performance indicators , as well as own and long-term shareholder loans with conditions below market conditions, taking into account maturities. ^{[ significance of fact? ]}

YSB is active in 12 ^[9] countries with local offices in 7 countries, including Albania , Brazil , Colombia , Haiti , India , Tunisia , Uganda . In March 2018, an office was opened in Kenya ^[10] ; plans to open an office in Malaysia ^[11] . Since 2011, YSB has allocated 12 million to 52 social business companies in 7 countries, supporting more than 1000 entrepreneurs and influencing more than 2 million customers ^[12] .

YSB Albania

YSB Albania began operations in April 2012 with the support of the Albanian National Government, and in 2014 expanded its activities in Kosovo. YSD Albania has funded 5 social companies to date, and launched its first acceleration program in 2014.

YSB Brazil

In March 2013, the launch of Brazil’s YSB took place to spread the concept of social business throughout Brazil; Rio de Janeiro officially received the name "Social Business City." Well known locally, Yunus Negocios Sociais Brasil conducted three cycles of acceleration programs in Sao Paulo and Rio de Janeiro in 2014. ^{[ significance of fact? ]}

YSB Colombia

YSB Colombia was established in 2011 initially as Grameen Caldas and became officially called YSB Colombia in 2013. She currently manages a portfolio of 3 social business entities, including a joint venture with the potato giant McCain. ^{[ significance of fact? ]}

YSB Costa Rica

Launched the first corporate social business with the leading food company of Costa Rica, the Florida Ice and Farm Company, whose goal is to produce products to combat child malnutrition. ^{[ significance of fact? ]}

YSB Haiti

Based in Port-au-Prince , the YSB Haiti office opened in 2010 with the support of an SAP partner. Currently, the team manages a portfolio of 9 social business structures. In 2013, YSB established a new social business in conjunction with the Virgin Unite and Clinton Foundation - the Haiti Forest initiative ^[13] . The main goals of Haiti Forest are to engage the local community in the reorganization of Haiti, to provide sustainable livelihoods for farmers throughout Haiti, to create jobs and a clean fuel source to reduce dependence on charcoal . ^{[ significance of fact? ]}

YSB India

YSB India was launched in 2011 in Mumbai and 7 social companies have received funding to date. ^{[ when? ] [14]} .

YSB Tunisia

It was founded in 2013 in partnership with the African Development Bank . Tunisia was the first in a number of African countries to reproduce the concept of social business. In 2014, the first acceleration program, known as iBDA, was launched. ^{[ significance of fact? ]}

YSB Uganda

In partnership with the African Development Bank, YSB Uganda began operations in November 2013, and the first social business structures received support in 2014. ^{[ significance of fact? ]}

The economist Kalam Azad believed in 2015 that this project, despite the statements of its founders, “will not be able to either rebuild economic science or change the world - at least in the short term.” ^[15]

• Yunus Social Business Website
• Joint article with Boston Consulting Group
• Skoll World Forum 2013 article
• Skoll World Forum 2013 article
• The yunus center
• YSB listing