Six social businesses get go-ahead

The 86th Social Business Design Lab took place yesterday where six young entrepreneurs presented their project plans and got approval.

The lab, which aims to provide a platform to the children of the borrowers of Grameen Bank to showcase their ideas and get investment, took place at the auditorium of the microcredit bank in the capital.

About 150 participants and observers from national and international organizations and a large number of international visitors attended the programme, Yunus Centre said in a statement.

The six new social business plans are Complete Ladies Shop & Parlor, Lamea Bag House, Lima & Fatema Machinery Store, Amena Flower Nursery, Ritu Enterprise and Bhai Bhai Handmade Soap.

At the lab, the entrepreneurs shed light on the projects' marketing process and sustainability. All six projects were approved for funding from various social business funds.

Since starting its journey in January 2013, a total of 1,175 projects have been presented in the labs. Of them, 1,150 projects were approved for investment and most of them are already in operation, Nobel laureate Prof Muhammad Yunus said while chairing the programme.