Biniyog Briddhi, a multi-year programme, has teamed up with four innovative impact enterprises— HelloTask, Romoni, SafeWheel and Shuttle.
Through this partnership, the impact enterprises will receive funding to scale up their business and implement impact monitoring systems to better report on their social mission, said a media statement issued on Wednesday.
All the enterprises have a strong focus on women's empowerment, logistics, caregiving and health services throughout Bangladesh.
The signing ceremony held at the office of the LightCastle in the capital on Tuesday.
It is here mentionable that Biniyog Briddhi is a multiyear partnership between the Embassy of Switzerland in Bangladesh, Roots of Impact and LightCastle Partners along with other stakeholders including investors, private sector organisations, incubators and support organisations for impact enterprises.
Corinne Henchoz Pignani, deputy director of cooperation and Ameena Chowdhury, programme manager from the Switzerland Embassy in Dhaka; Maxime Cheng, lead of market and capacity building programs at Roots of Impact; and Bijon Islam, chief executive officer at LightCastle Partners; attended the ceremony.
Corinne Henchoz Pignani said, "Through the B-Briddhi programme, Switzerland wants to support impact enterprises to have better access to financing options and be equipped to be attract investors. In addition, most importantly, we want to promote the culture of impact monitoring amongst social enterprises."
Maxime Cheng, who is also the programme manager of BBriddhi said, "Impact Ready Matching Fund is first of its kind to provide incentives to early-stage impact enterprises to establish impact management practices as an integral part of their business operations."
"We are excited to see this pioneering cohort leveraging their impact data to inform their business decisions and growth from Biniyog Briddhi is through the Impact Ready Matching Fund (IRMF) scheme, a matching fund for social enterprises, which matches the equity investments from investors and reduces the enterprises' funding cost by 50%."
These grants will be conditional on the introduction of robust systems to measure social and environmental impacts.
The next round of call for applications for the catalytic funding will open in April this year. This scheme is open to both early-stage and growth-stage impact enterprises.