Businesses by New Entrepreneurs Cross 5000 Mark at the 262nd Social Business Design Lab
Yunus Centre Press Release (30 May 2016)
Investments into six social businesses were announced on Monday 30th May 2016 at the 262nd Social Business Design Lab. New Entrepreneurs Mst. Asma Begum holding traditional palm-leaf hand-fans, Mst. Pervin Jamdani Sari is seen in the photo along with others with Nobel Laureate Professor Muhammad Yunus at the 262nd Social Business Design Lab on Monday 30th May 2016. Photo: Nasir Al Mamun/Yunus Centre
The 262nd Social Business Design Lab organized by Yunus Centre witnessed the reaching of the milestone of 5000 Nobin Udyokta (New Entrepreneurs) on 30 May 2016 at Yunus Centre. Among the four organizations investing in the Nobin Udyokta projects, Grameen Telecom Trust (GTT) has crossed investment in 2,000 Nobin Udyokta projects today.
More than 120 participants from around the world coming from diverse background attended today's Design Lab including participants from India, Italy, and Canada. Senior faculty from Queens University, a prestigious Canadian University, joined the today’s program. The team are interested in exploring the Nobin Udyokta projects for youth in Bangladesh who are living with disability.
The Lab was chaired as usual by Nobel Laureate Professor Muhammad Yunus who welcomed the participants and reported that since the labs began in January 2013, a total of 5,674 projects have been approved for equity funding by Social business investment funds.
Six new Nobin Udyokta business plans were presented at today's Lab. Each entrepreneur belolngs to a Grameen Bank borrower's family.
The presented business plans today were Mitali Tailors by Rumi Mallik, Priyonto Nursery by Ranjan Chandra Sutradhar, Eti Jamdani House by Mst. Pervin, Salim Pakha Shilpo by Mst. Asma Begum, Tumpa Rice Mill by Md. Ruhul Amin and Bodhua Beauty Parlor by Asma Begum.
The first presentation was by Ms Rumi Mallik of Mitali Tailors who is a 19 years old widow and mother of two. Ms Rumi presented her plan to take her late husband’s tailoring business to the new heights taking up the challenge just eight months after his death. The second presentation was made by Mr Ranjan Chandra Sutradhar who has skill in growing nursery plant through grafting method. Despite being a Masters Degree holder, Mr Sutradhar found his niche in entrepreneurship. A third entrepreneur Mst. Pervin of Eti Jamdani, who is a skilled weaver of traditional Jamdani, also selling tie-dyed scarves. She shared her plan to expand her business and asked for equity investment from Grameen Social Business Fund. There was also a business plan presented by Md. Ruhul Amin of Tumpa Rice Mill. Mr Ruhil Amin opted to become an entrepreneur using his skill and experience in another Rice mill for four years. A fifth business was presented by Mst. Asma Begum of Salim Pakha Shilpo, who was compelled to leave her husband after suffering continuous physical torture for dowry, makes traditional palm leaf based hand fan. Mst. Asma Begum, mother of three, now wants to utilize her skill to make a successful business as the demand of her traditional hand fan is on the rise. The final presentation was made by Asma Begum of Bodhua Beauty Parlor. A trained beautician, Asma wants to expand her business with the investment from Grameen Social Business Fund. The passion and determination of the new entrepreneurs was very evident in the presentations of their business plans.
The business plans were presented by each of the young entrepreneurs including all details of project plan, marketing plan, and sustainability plan and then discussed in depth in groups. All six projects were approved for funding. The social business projects would be monitored through reports on Social Business Pedia. The projects are joint ventures with Grameen’s social business funds.
There was also a joint venture agreement signed at the design lab between Grameen Telecom Trust(GTT) and SDRS for 'Kisholoy School', an open social busienss project from Fulchari of Gaibandha district. Under the agreement, GTT will facilitate the conversion of the an existing school into a social business project to ensure quality education for all in the area irrespective of financial situation of the respective student's families.
Professor Yunus invited participants to join the Social Business Day, which will take place at the newly built Social Business Convention Centre at Zirabo outside of Dhaka on 28-29 July 2016.
Caption for image two: New Entrepreneurs Mst. Asma Begum is seen holding traditional palm leaf hand-fans and Mst. Pervin with Jamdani Sari are seen in the photo with Nobel Laureate Professor Muhammad Yunus. Photo: Nasir Al Mamun/Yunus Centre
Caption for image three : Participants of 2nd Social Business Design Lab are seen with Nobel Laureate Professor Muhammad Yunus on Monday 30th May 2016 at the Grameen Bank auditorium. Photo: Nasir Al Mamun/Yunus Centre
