empowering entrepreneurs and innovators for social impact

LSV partnered with the British Council Sri Lanka on their Youth Led Green and Inclusive Businesses (YLGIB) initiative. This six-month programme aimed to harness the enthusiasm and energy of young entrepreneurs in Sri Lanka, guiding them to become role models in green and inclusive transitions within SMEs.

Through this initiative, we supported 15 youth-led SMEs in identifying and initiating environmentally responsible and socially inclusive practices within their businesses. The programme culminated in a showcasing event, where the participating SMEs presented their innovative projects, highlighting their contributions to a sustainable and inclusive future.

The United Nations Development Programme (UNDP) and Australia are collaborating to support Sri Lanka’s community-based organisations (CBOs) in implementing local projects that contribute to global environmental goals while fostering sustainable livelihoods.

Under the seventh Operational Phase (OP7) in Sri Lanka, 20 community grant projects, along with additional grants for capacity development, knowledge management, and social enterprise development, will receive funding totalling US$1 million, Environment Ministry sources said.

A research by the Schwab Foundation’s Global Alliance for Social Entrepreneurship finds that there are approximately 10 million social enterprises worldwide  addressing critical issues like climate change and poverty. These social enterprises generate $2 trillion in annual turnover and create 200 million jobs. The recently launched Corporate Social Innovation Compass at Davos highlights how businesses can harness the power of social innovation to drive their success. 

Accounting for 3% of all businesses worldwide, these enterprises are distinct from traditional business in that they go beyond a focus on revenue and profit alone.