Bangla Nobel winner seeks help to seed social business ventures

GN Bureau | September 7, 2015



Nobel prize winner Mohammed Yunus of Bangladesh,  has invited the Indian companies to be partner with his organisation to start social business and to address social issues without profit motive.

Yunus Social Business India, a part of his social business initiative is in talks with various corporates on this kind of initiative. speaking in an event organised by Tie Chennai, he said, "Today I am here to pitch in with you all for social business here."

When asked whether his organisation is doing social business in India, and whether there are joint ventures, he said, "We have talked to a few companies. But the actual work has not been started yet."

Aarti Wig, country director, Yunus Social Business said that the organisation has established a fund and has so far invested in around seven small businesses in India. Yunus Social Business Fund Mumbai (YSBFM) was established and has been offering funds from the year 2011.

However, the organisation has conducted a scope study with US-based shoe company Toms Shoes, which donates one pair of shoe for every shoe gets purchased from the company. It currently distrubutes around 2 million shoes in India as part of philanthropy.

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