Yunus&Youth Fellowship Program is now accepting applications from hardworking, passionate entrepreneurs
building social businesses around the world. Get professional support and mentoring to scale your social venture!
Yunus&Youth exists to make the challenge of social entrepreneurship easier. Y&Y was inspired by the work of Nobel Peace Prize winner Muhammad Yunus and his belief that companies and entrepreneurs can engage in business models that create real, sustainable social impact. People around the world struggle with social problems: some lack access to safe drinking water while others struggle with unemployment or insufficient health services (to name a few). Here is where social business comes in. These early stage start-ups drive social change because their founders are close to the problems they’re solving and the communities they’re helping. Like GreenChar in Kenya, where Y&Y Fellow Yina sells affordable charcoal briquettes that reduce the risk of contracting respiratory illnesses. Or Bella Handmade Jewelry, founded by Y&Y Fellow Walaa, which offers employment opportunities to women in refugee camps in Palestine. What makes social businesses unique is that they are for-profit, but they’re not profit-driven—they’re driven by their vision to improve society.
What is a Social Business?
The concept of social business is defined by Nobel Peace Prize laureate Muhammad Yunus as a non-loss, non-dividend company created to address a social purpose.
That means that, like a charity, the goal of a social business is to solve a social problem. But because it’s a business, it’s also financially sustainable, ensuring independence, security, and the ability/chance to exclusively focus on creating lasting impact. Instead of donors, a social business has investors. Instead of fundraising, a social business generates a profit—and then reinvests that profit in the company’s innovation and growth in order to increase its social impact.
Yunus&Youth Fellowship Program Eligibility.
- You have started working on your social business and are dedicated to making it succeed.
- You must be under 30 years old.
- You must be able to speak and communicate in English.
- You must also be able to commit to 5 hours per week on exercises that will help you improve your business.
Yunus&Youth Fellowship Program Benefits.
- Fellows receive a 6-month crash course in social business development. The step-by-step curriculum ensures that by the end, They will be ready to pitch to potential investors.
- Fellows will be matched with a professional mentor. These mentors are successful entrepreneurs and business professionals ready to lend their expertise to help fellows maximize their business’ growth potential.
- Being a Y&Y Fellow means having a support network of experts, business leaders, and institutions around the world.
How to Apply for Yunus&Youth Fellowship Program 2018.
These are the main questions that you will need to complete in your online submission:
Tell us about your social business
- Social Business Name
- Facebook Page
- Describe your social business in one or two sentences.
- Are you legally incorporated? Please specify the country and the legal form. (100 characters)
- When was your social business started?
- What social problem do you want to solve? (300 characters)
- How does your social business solve that problem? (500 characters)
Tell us about your customers & revenue model
- Who are your beneficiaries/users? (300 characters)
- Who are your paying customers? Are they different from your beneficiaries? (300 characters)
- How do you plan to acquire more customers? How do you plan to grow and scale? (300 characters)
- How many customers have paid for your product/service in the past 12 months (since you have started working if less than 12 months)? (100 characters)
- Who are your competitors and how are you different from what they offer? (500 characters)
- What kind of evidence do you have that your solution works/will work? (300 characters)
- What is the most important measure/indicator of your success? (100 characters)
- What are your main expenses? (300 characters)
- What is your revenue model? How does your social business makes money?
Tell us about your team
- Who are the founders?
- Who are the other team members?
- What roles/people/knowledge is your team missing?
Yunus&Youth Fellowship Program 2018 Deadline:
March 5th, 2018.