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Media »Myanmar Inclusive Businesses Pitch for Social Impact

November 8, 2019

 

Yangon, Myanmar: This evening, the competitive Myanmar Inclusive Business Challenge 2019 Pitch Day is being held at the Chatrium Hotel in Yangon. It is a part of the inaugural Inclusive Business Challenge jointly organised by the UK aid-funded DaNa Facility and the Myanmar Young Entrepreneurs Association (MYEA), with financial support from A Bank to raise awareness of the potential of inclusive business and to provide recognition for enterprises that create significant social impact.

 

Priti Prajapati, Private Sector Advisor, UKaid Myanmar, highlighted: “We are very committed to supporting Inclusive business because we see that it is different. Inclusive Business adds a dimension of both scale and social impact alongside commercial sustainability. It provides a calculated answer to the problems of the poor and near-poor, while making a profit for companies.”

 

The Challenge is endorsed by the Inclusive Business/Impact Investing Steering Group, an important public-private initiative to promote and guide inclusive business/impact investing development in Myanmar, co-chaired by the Directorate of Investment and Company Administration (DICA), and the Directorate of Industrial Supervision and Inspection (DISI).

 

On Pitch Day, the following eight shortlisted applicants (selected from 16 proposals) will present their solutions to a panel of judges with experience in the business ecosystem: Future Glory; Klenic; Maha Agriculture; Mya Ayer; Myint Myat Taw Win; Shan Maw Myae; Shwe Taung Nyo Gyi; and Snacks Mandalay.

 

The eminent judges panel includes: Daw Tin Aye Han, Deputy Director General, DICA; Daw Aye Aye Win, Director General, DISI; Daw Khin Thet Maw, Secretary General, Myanmar Women Entrepreneurs Association; Mr. Bradley Kopsick, Country Representative, Insitor Myanmar; Daw Yin Yin Htay, Chief Business Officer, Telenor Myanmar; and U Saw Dino Ku, Executive Director, A Bank.

 

Bradley Kopsick, Country Representative of Insitor Myanmar, said, “Inclusive Business has the potential to address Myanmar’s development challenges in a sustainable and market-driven manner. The IB Challenge serves as an effective platform to help raise the profile of these businesses and inspire entrepreneurs across the country.”

 

The top three winners will be recognized and awarded prizes together with inclusive business development opportunities at the MYEA Annual Entrepreneurship Summit 2019 on 16 November. And all the innovative enterprises pitching will become a part of the ambitious awareness and policy initiatives under the Inclusive Business/Impact Investing Steering Group.

 

Notes to editors:

For more information please contact the DaNa Facility communications team at: +95 9782500752 or through email: danapress@danafacility.com.

 

The DaNa Facility: The DaNa Facility is a UK aid-funded programme, established in May 2016 as one of six components of UK aid’s wider ‘Business for Shared Prosperity’ (BSP) programme. The DaNa Facility, implemented by DAI Europe and KPMG, supports inclusive economic growth and private sector development in Myanmar through responsible and sustainable business growth, investment and trade. For more information on the DaNa Facility please visit: www.danafacility.com. Follow the DaNa Facility on Twitter | Facebook.

 

Myanmar Young Entrepreneurs Association (MYEA): The Myanmar Young Entrepreneurs Group was initially formed in November 2009 with 45 Executive Committee Members. In June 2012, MYEA transformed into a registered association as the Myanmar Young Entrepreneurs Association (MYEA) with 50 Executive Committee Members. MYEA’s aim is to become Myanmar’s leading institution for empowerment of young entrepreneurs. The main objective is to empower young entrepreneurs and assist in creating a vibrant entrepreneurship ecosystem in Myanmar. Currently, MYEA is composed of 1062 Executive Members, 651 Associate Members, and 1 Cooperating Member, and reaches out to 4 states and divisions across Myanmar. For more information, please visit www.myea.org.mm.

 

You can find a Myanmar version of this Press Release here.