Kathmandu, August 24, 2018: Recognizing this importance of social enterprise in the economy, 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 a month long event that started in April with call for applications and ends on August 26th, 2018 with Grand Finale at Yak and Yeti with Blinc Ventures as their hospitality and promotional partner.
Blinc Ventures is an online platform for Social Entrepreneurs to increase their online visibility and access latest start up opportunities, business templates and insights. The platform also encourages Social Entrepreneurs to measure their social impact against Sustainable Development Goals framework by publishing guides, articles and ready to use templates.
The Social Business Challenge is in its 3rd edition and till date, the centre has nurtured 43 ventures which employees 700 youth 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 business. The centre is among the 48 centres working globally, initiated by Nobel Laureate Prof. Mohamad Yunus, also the founder of Grameen Bank.
Entrepreneurship boot camps were conducted across Nepal including Biratnagar, Birgunj, Dhangadi, Nepalgunj, Dailekh, Janakpur, Pokhara, Kohalpur and Chitwan reaching 406 youth. It received applications from 55 teams out of which 22 teams were selected for 2nd round, who went through educational workshops, rigorous work on ideas, and mentorship program. The final event will witness all polished ideas which will be judged by a panel of esteemed judges and the teams will be competing for a total cash prize of 3.5 Lakhs in various categories.
The thematic area for the event includes ICT, Sustainable Tourism, Agriculture, Renewable Energy & Environment, Education, Gender Equality, Water and Sanitation, and Health which is very broad and leaves little room for entrepreneurial idea limitation.
All the finalists along with the winning team get 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, so, various like-minded organisations like daraz.com.np, King’s College, Nobel College, Himalayan Climate Initiative, Rural Access Program- Connect, Nepal Communitere, Travellers’ Map, Clock B Innovation, SEA centre, Rural Development Initiative, Thrive Nepal, R &D Innovation and OYORIASIA have come together to collaborate with Social Business Challenge 2018 to promote social entrepreneurship and job creation in Nepal. Blinc Ventures too is proud to be associated as with Yunus Social Business Centre, for the event.