Norbert Muhumuza is one of the 15 shortlisted applicants attending the Yunus Social Business accelerator programme. His bio-mass business helps converts waste in to energy. He is not only being coached but also getting help to access finance to expand his business.
The Accelerator Programme, which commenced on Monday with three weeks of training, five weeks of testing and a two week refining, will culminate in an Investor Demo Day.
According to Sasikia Brysten, the CEO and co-founder of the Yunus Social Business, the beneficiaries are drawn from the health, education, and renewable energy, agri-business / value addition.
During the accelerator programme, they will be able to access tailor made services like; mentoring, individual coaching, social business development, networking, leadership conversations, opportunity for finance, and formation by social business experts across the YSB network.
Role of Yunus Social Business
Bysten says they want to bring the successful social business model to Uganda to help solve some of the problems affecting society.
She defines a social business as a formal entity created with the sole purpose of solving a social problem in a financially self-sustainable way.
“Good social business combines an unwavering focus on solving a social problem with entrepreneurial energy, market discipline, and great potential for replicating and scaling successful enterprises,” she says.
Yunus Social Business Uganda, in cooperation with development and corporate partners, launch the first Social Business Accelerator Programme in sub-Saharan Africa and Uganda.
The programme, if successful will see several social business entrepreneurs get coached and also access soft loans to expand their businesses.
They will also receive training in various areas to strengthen their businesses.
Good social business combines an unwavering focus on solving a social problem with entrepreneurial energy, market discipline, and great potential for replicating and scaling successful enterprises.
CEO, Yunus Social Business