Nobin Udyokta (Young Entrepreneur)
Do NUs aim to be financially self-sustainable? (fund and opex perspective)
NU has to be a business success to be able to buy off all the shares of the investor....
How is NU initiative positioned from a communication perspective versus Social Business and MFI?
NU is a social business of the investor. But it is a conventional business for the NU. NU gets equity investment from a social business. MFI may be a social business. It provides credit....
How does the 20% fee fit the SB definition?
The 20% fee is called the share transfer fee. This is to cover the cost associated with the services provided by the investor, and make it easy for NU to buy the shares at face-value....
How does an investment contract look like / is there one? (eg. Non dividend, covenants, reporting requirements)
Yes, there is an agreement. We can send you a translated version. Investor’s equity is non-dividend. There are elaborate reporting requirements ranging from daily reporting to monthly and annual reporting....
Are SBs 100% owned by the investor even if the entrepreneur co-invests?
These are all conventional profit-making businesses. None of them are social businesses. The entrepreneur has already made an investment ranging from 20% to 70% of the proposed project cost. Yes, management contract is kept with the investor irrespective of size of investment....
How many jobs created per USD invested (expected)? Are there any other social impact targets?
In the case of Grameen Telecom Trust the total investment, as on February 2015, is about half a million USD. NU provided another half a million USD. GTT already funded 147 NU projects. In addition to entrepreneurs, there will be at least 400 additional people in employment in 2015 from these 147 projects. No, there are no other social impact targets. Turning job seekers into entrepreneurs is the goal....
Have you already successfully exited some of the businesses? What are the actual/expected failure rates?
The NU program has been initiated recently and oldest project is about a year old. We need to wait for two more years and more....
How many investments were made so far?
1398 Nobin Udyokta projects (upto july, 2015) have already been presented. 1051 Nobin Udyokta project already got the investment money and another 188 projects are in the pipeline, 99% of them are approved for financing....
What is Nobin Udyokta (Young Entrepreneur)?
“I should never seek a job in my life; my mission in life is to create jobs. I am not a job seeker, I am a job giver.” - Nobel Laureate Professor Muhammad Yunus. Keeping the above philosophy of Professor Muhammad Yunus, Grameen Telecom Trust has created a fund to support next generation of potential entrepreneurs. The aim of this fund would be to support children of Grameen Bank Borrowers to undertake sustainable business and become entrepreneurs. They may scale up existi...
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