Six New Businesses Launched at the 329th Social Business Design Lab
Yunus Centre Press Release (20th August 2016):
The 329th Social Business Design Lab organized by Yunus Centre took place on 20th August 2016 at the Grameen Bank Auditorium with nearly 150 participants from national and international organizations attending.
Since the Labs began in January 2013, over 7,500 projects have been presented in the last 329 Lab programs, of which 7,400 projects have been approved for equity funding investments ranging from taka one lakh to five lakh for Nobin Udyokta projects.
The Design Lab was chaired by Nobel Laureate Professor Muhammad Yunus. Prof Yunus welcomed the audience and updated on the progress of the social businesses operating in Bangladesh and around the world. He also shared, in context of his recent participations in Olympic events in Rio, about the International Olympic Committee’s (IOC) interest to work together with Yunus Centre to take the social business movement forward across the world through National Olympic Committee operating in each country. Professor Muhammad Yunus was the keynote speaker for IOC’s annual conference on the role of social business and sports in transforming communities.
At the lab, Grameen Danone presented a brief update of the company. Grameen Danone started its journey back in 2006 as a social business joint venture between Grameen and French dairy giant Danone to address the chronic malnutrition among the children in the country through production and sale of a specially fortified yogurt. Grameen Telecom Trust also provided an update of its activities in support of independent social businesses and Nobin Udyokta projects.
Afterwards, six new Nobin Udyokta business plans were presented at today's Lab. All Nobin Udyokta businesses, presented at the Design Lab are from Grameen Bank borrowers’ families. These six plans included Nishbetganj Shatoranji Hostoshilpo by Ms Amina Begum who has a shatronji or handmade rug business seeking equity funding to expand her business. The next plan was Mozaffor Classical R Banshi by Mofazzal Mondol whose craftsmanship for making indigenous bamboo flute impressed the audience. The business hasalready exported its flutes to the United Kingdom and Tunisia. The entrepreneur's father is talented flutist and performed a short recital for the participants at the Lab. Champa Rani of Shoikot Bop, a specialty product made of waste cloth materials to clean rusty steel. She wants to realize her dream of becoming self reliant and presented the business plan for her unusual product at the Lab. Two other plans were by Mst. Morsheda Khatun and Mst. Eshrat Zahan Champa in support of theor tailoring and garments business. The final project was Afroza Kutir Shilpo by Afroza Begum which produces handmade baskets to carry fruits and vegetables.
All business plans were presented and discussed in detail. Those were then presented in groups for further review. All six projects were approved for funding by their groups. The projects are joint ventures with Grameen social business fund and their progress will be monitored on www.socialbusinesspedia.com .
Professor Yunus thanked the participants for the innovative social businesses and noted that it was exciting that so many ideas were now business reality. Professor Yunus also invited participants to join next Social Business Design Lab which will take place on 20 October 2016.
Caption for image one: Investments into six social businesses were announced on Saturday at the 329th Social Business Design Lab. The six young entrepreneurs, children of Grameen Bank borrowers are seen in the photo with Nobel Laureate Professor Muhammad Yunus. Photo: Yunus Centre
Caption for image Two: Participants of the 329th Social Business Design Lab are seen with the Nobel Laureate Professor Muhammad Yunus with the Olympic torch. The 329th Social Business Design Lab organized by Yunus Centre took place today on 20th August 2016 at the Grameen Bank Auditorium.Photo: Yunus Centre
Source: Yunus Centre
Updated Date: 18th January, 2017