Because our solution of connecting the micro-finance program with education is currently implemented and scaled in Indonesia and we haven't introduced it outside of Indonesia, even though we have had some projects before, together with our partners in a few countries, related to youth development.
How does your innovation work?
Our solution aims to support in breaking the poverty cycle through education and economic empowerment. YCAB now has 55 learning centres spread across Indonesia and partnering with more than 9,000 schools. More than 42,965 youth have received basic education and courses with 72% of them finding jobs and 3,340 others have started their own businesses and in so doing, have created jobs for others. We believe that profitability equals sustainability, and that the existence of our for-profit entities within the YCAB Social Enterprise Group gives us the freedom and room to create better programs for the future of our youth. However, we believe that sustainability also means joint collaboration with corporate entities and the government. We aim to replicate this model in other countries globally as we think that the issue remains consistent for youth irrespective of their nationalities.
What is your strategy for expanding use of your innovation?
To date, YCAB has touched the lives of more than three million underprivileged youths through education and entrepreneurship, while bringing greater financial access to more than eighty thousand microfinance clients, all of whom are women. By 2020, YCAB aims to reach out to five million youths in five countries in Southeast Asia.