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YES FUND Global Fund for Youth Entrepreneurship ?. Maritta Koch-Weser, CEO, Global Exchange for Social Investment Nairobi, September 14, 2006. Mapping Needs & Opportunities How a YES Fund could be built How a YES Fund could start. 1. Mapping Needs & Opportunities.
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YES FUND Global Fund for Youth Entrepreneurship ? Maritta Koch-Weser, CEO, Global Exchange for Social Investment Nairobi, September 14, 2006
Mapping Needs & Opportunities • How a YES Fund could be built • How a YES Fund could start
Needs: Social Challenge Demographics A huge young generation in Poverty & Unemployment
Existing Opportunities Building blocks for entrepreneurship Social Demographics Of Poverty Teaching young Entrepreneurship EDC, NFTE, BUZZ, etc Review of Business plans e.g. BID challenge Social organization e.g.YES Ayrton Senna Etc.
Existing Opportunities Missing Social Building blocks for entrepreneurship Start-up finance e.g. YES FUND Demographics Of Poverty Teaching Young Entrepreneurship EDC, NFTE, BUZZ, etc- Associated coaching & “market graduation“ Social organization e.g.YES Ayrton Senna Etc. Review of Business plans e.g. BID challenge Checks & balances On performance
With a YES Fund for Young Entrepreneurship • The (competitive) best among young entrepreneurs would benefit • Those too young / un-eligible for regular „banking“ could be included • Money & Guidance would be provided in combination (micro-lending & coaching) • Performance based gradual increases to larger amounts (never more than a few thousand $/€) would be possible • Transition to Regular Banking could be eased through stand-by small „collateral“ or guarantee arrangements
Required organizational Functions Global Driver Functions Social Organization Fundraising Fund Management Management M&E YES/EDC & Global Exchange for Social Investment/GEXSI
Required organizational Functions Local Driver Functions Social Organization Fundraising Fund Management Management M&E To begin with in 1-3 pilot countries only Reputable, qualified local partner organizations
Required organizational Functions Local Financiers Business Community Government Charities Global Financiers Development Aid Foundations Charities Business Community
YES Fund: Required organizational Functions Local Financiers Business Community Government Charities Global Driver Functions Social Organization Fundraising Fund Management Management M&E YES/EDC & Global Exchange for Social Investment/GEXSI Local Driver Functions Social Organization Fundraising Fund Management Management M&E To begin with in 1-3 pilot countries only Reputable, qualified local partner organizations Global Financiers Development Aid Foundations Charities Business Community
3. How a YES Fund for Young Entrepreneurship could start
How a YES Fund for Young Entrepreneurship could start On stand-by EDC/YES & GEXSI stand ready (organizational & legal framework) BID Challenge Stand-by Commitment for Review of Business Plans NFTE and other international training Programs
How a YES Fund for Young Entrepreneurship could start • Discuss & Find • Pilot Country(ies) • First local (& global) Financiers • First Local Partnerships • for Implementation
How a YES Fund for Young Entrepreneurship could start Discuss & Find Pilot Country(ies) First local (& global) Financiers First Local Partnerships for Implementation On stand-by EDC/YES & GEXSI stand ready (organizational & legal framework) BID Challenge Stand-by Commitment for Review of Business Plans NFTE and other international training Programs
YES FUND for young entrepreneurship ?where to start? kochweser@gexsi.orgwww.gexsi.org