The Design Lab was chaired by Nobel Laureate Professor Muhammad Yunus. He opened the lab with welcoming remarks to the audience including those tuning in via live stream. Professor Yunus explained the process of the Lab, to review and assess social business plans of entrepreneurs.

He reported that to date since January 2013, a total of 1175 projects had been presented during 86 labs of which 1150 projects were approved for investment, and most of these already in operation. At today’s Lab, six new social business plans were presented, all of which were Nobin Udyokta businesses presented by young entrepreneurs coming from Grameen Bank borrowers families.

It include a range of interesting business with color ful products including Complete Ladies Shop & Parlor producing ladies clothing and decoration products by Fahmida Tanjim, Lamea Bag House producing cloth carry bags by Rubel Ahmed, Lima & Fatema Machinery Store by Liton, Amena Phool Nursery producing cut flowers for sale in the city by Masud Rana, Ritu Enterprise producing handloom Shuttles by Ritu Sutrodhor and Bhai Bhai Handmade Soap by Runa Begum.

These business plans were presented by each of the young entrepreneurs including all details of project plan, marketing plan, and sustainability plan. There were several rounds of discussions on how each social business could be improved and strengthened during the main session as well as in breakout sessions.

All six of the social business projects were approved for funding from various social business funds. These projects would be reviewed in the upcoming Labs, and through regular reports on Social Business Pedia.

Professor Yunus thanked the participants for the innovative social businesses and noted that it was exciting that so many ideas were now a reality and how impressive it was that entrepreneurs coming from so far away could present their business plans and defend them in front of distinguished international audience. Professor Yunus also invited participants to join next Social Business Design Lab, to be held on 11 July 2015.

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It is wonderful to see this dedication recognised.” Of more than 500 development organisations worldwide, NGO ADVISOR placed BRAC first, based on its impact, innovation and sustainability. BRAC was praised for its holistic approach to fighting poverty, treating it as a system of interrelated barriers that must be addressed concurrently. The ranking also highlighted the organisation’s history of designing and implementing solutions at scale.

Other notable NGOs in the top 500 include Doctors Without Borders in the second position, Oxfam in fifth, Save the Children in the ninth, and Grameen Bank in the 12th position. NGO ADVISOR combines academic rigour with journalistic integrity and autonomy, evaluating each organisation based upon its objective merits. Co-founded by Jean-Christophe Nothias, a journalist formerly with The Global Journal, the rankings methodology was first developed in 2009. Over the years, Nothias enlisted experts at The University of Geneva and partners from the non-profit sector to improve the evaluation metrics.

Today, NGO ADVISOR presents its findings to an international audience of donors, volunteers, journalists, researchers, diplomats and non-profit leaders to showcase best practices and mirror the evolving values of the global community.

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Fortune announced its inaugural Change the World list, a ranking of 51 companies that have made an impact on major global social or environmental problems as part of their competitive strategy. For the first time, the magazine’s “Change the World” list is ranking companies not by the dollars they make, but the good they are doing.

According to the World Bank, globally, microfinance accounts for at least $60 billion in loans annually and has reached 135 million people. This is the first list of its kind in which companies are recognized—and competitively ranked—on business innovations that positively impact pressing social and environmental issues.

Danone, one of the social business partners of Grameen ranked 14th position on Fortune’s Change the World List as a brand offering products that address poor nutrition. Grameen and Danone Group went into a joint venture to create a yogurt fortified with micro-nutrients to decrease malnutrition for the children of Bangladesh in 2005

Source:
https://fortune.com/change-the-world/ and https://fortune.com/change-the-world/grameen-bank-12/

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