Sunway City, August 17– Sunway Education Group’s campus in Sunway City will be the home for a new Yunus Social Business Centre (YSBC) to foster the development of social enterprises in the country.
Nobel Laureate and Founding Chairman of Yunus Centre, Professor Muhammad Yunus signed the MOU with Sunway Education Group Founder, and Founding Trustee of the Jeffrey Cheah Foundation, Tan Sri Dr Jeffrey Cheah AO towards the creation of the YSBC in the campus in Sunway City.
Professor Yunus had won a Nobel Peace Prize in 2006 for his work in founding microcredit institution Grameen Bank in 2006. To date, Grameen Bank has disbursed collateral free loans of USD24 billion to around 9 million borrowers who depend on microcredit loans to start enterprises that lift them out of poverty. The Yunus Centre, since its founding in 2008 operates as a think tank for issues related to social business, poverty alleviation and sustainability.
Professor Yunus said that he was keen to work with fellow entrepreneur, Tan Sri Dr Jeffrey Cheah as well as the Sunway Education Group in setting up the new YSBC.
“Tan Sri Jeffrey Cheah is one of the most inspiring entrepreneurs I’ve met. His passion and belief in education as an instrument to lift people from the clutches of poverty is evident in the Jeffrey Cheah Foundation. The Jeffrey Cheah Foundation is indeed a unique set-up, which epitomizes social business at its best.”
“I believe that we can create great impact through YSBC in SEG. In addition to having good pool of business students in its business school, its non-profit accelerator and incubator, Sunway iLabs which will undoubtedly help social businesses created here scale effectively,” he said.
“We hope to see the setting up of the YSBC in SEG further drive entrepreneurship development for sustainable socioeconomic development, especially for the poor and less privileged in Malaysia,” said Tan Sri Jeffrey Cheah.
The MOU will see SEG and the Yunus Centre collaborate to explore areas of collaboration in education, research, information gathering and action plans. Sunway Education Group has 16 education institutions including Sunway University, Sunway College, and Sunway International School.
As part of the mission to promote Social Business YSBC, SEG will organize student service learning trips so students can learn first-hand techniques and programmes which have been set up to assist the economic development of the poor in developing countries.
The YSBC will promote social business through social business action programmes, courses, researches, publications, conducting social business design labs, conferences, exchange programmes, academic workshops, exposure visits, internships and scholarship programmes, amongst others.
The YSBC, through strategic research and structured implementation of social business will strengthen JCF’s efforts to aspiration on community empowerment, well-being and wealth creation.