It’s the smaller stories of solidarity that are getting us through!
These have been difficult times for our portfolio companies. They are working hard to protect those they employ and serve. In India, Waste Ventures recycle plastic and improve the lives of waste pickers. As they are dependent on revenues from previous months to meet their expenses, the abrupt pause to their activities has made their ability to pay their workforce much more difficult.
However, the waste picker communities they work with are facing an even graver challenge of survival where they are struggling to meet 3 meals a day. To ease their plight, Waste Ventures partnered with residents and donors from across the world to provide a meal per day for their waste pickers until the lockdown is lifted on May 7th. Over 200 waste pickers are benefiting from this initiative in multiple regions of Hyderabad.
Waste pickers are often migrant workers and with the lockdown measures many returned to their villages, those left are keeping the city clean. As migrants, they fall through the cracks of govt. benefit schemes which means Waste Ventures’ intervention is even more vital. They are even working to distribute sustenance groceries to help an additional 100 waste pickers last for next 20 days. The team led by Venu and Sahithi are flooded with calls of gratitude from families who are no longer going to sleep hungry.
A growing number of companies around the world have launched social-business subsidiaries as part of an agenda to bring about positive change.
According to a survey by the Brazilian Federal Government, 3 out of 4 households are headed financially by a woman and 41% of them own their own business. Female entrepreneurship has become an important tool for social transformation and has directly contributed to the growth of Brazil’s economy.
Our goal is to foster partnerships between social businesses and corporations where corporations can directly buy products and services from social businesses, giving social businesses the chance to scale.