Now that businesses are competing more than ever, the societal aspect of business is often overlooked, and social enterprises aren’t even considered “real businesses” by many. Little do they know that social change is one of the most important competitive advantage a business can have.
Social enterprises not only generate profit but they solve the most stickiest problems of the world. Recognizing this power of the businesses, Yunus Social Business Centre, Nepal at Kings College has initiated “Social Business Challenge 2018” for all the entrepreneurs with the zeal to bring social change in Nepal. The challenge is in its 3rd edition and till date, the centre has nurtured 43 ventures which employs 700 youths throughout the country.
It started in 2016 with the intent to coach entrepreneurial way of thinking and working among the country’s youth to inspire and involve them in creation of social businesses. The centre is among the 48 centres working globally, initiated by Nobel Laureate Prof. Mohamad Yunus, also the founder of Grameen Bank.
The centre conducted bootcamps on entrepreneurship across Nepal including Birantnagar, Birgunj, Dhangadi, Nepalgunj, Dailekh, Janakpur, Pokhara, Kohalpur and Chitwan reaching 406 youths. The challenge received applications from 55 teams out of which 22 teams were selected for 2nd round. The final event will witness 7 teams with their polished ideas which will be judged by a panel of esteemed judges on August 26th from 2 pm – 5pm at Hotel Yak & Yeti, Kathmandu. The teams will be competing for a total cash prize of 3.5 Lakhs in different categories.
All the finalists along with the winning team get the following opportunities:
Funding: Pitching ideas to Nepal’s largest social venture capitalists for seed funding.
Mentorship: 8 weeks mentorship support.
Incubation: Opportunity to pitch for incubation at King’s college which entails dedicated mentorship, connecting incubates to various sources, plug and play workshops, support services, student support, and training program.
Undoubtedly, Social Business Challenge is a great platform for entrepreneurs with an idea for social change and Blinc Ventures is extremely proud to be associated as hospitality and promotional partner for the event.