ygap
When a group of passionate young professionals takes on the challenge of tackling local and global poverty, you can bet it looks different to anything that’s come before. International development organisation ygap leverages the power of social entrepreneurship and empowers people to lift themselves and their communities out of economic hardship.
The start-up scene is thriving today, but ygap was founded in 2008 before the proliferation of resources, experts and the ‘fail-fast, fail-hard’ mantra. Their approach is unique, and although they have grown over time, they have held onto the nimble nature of the ventures they work with.
Social impact ventures
ygap supports early-stage social impact ventures with locally-led solutions to local problems in a number of countries, including the Pacific Islands, Bangladesh, South Africa and Kenya. With offices in each country, local staff know the start-up ecosystem. They’re able to track down entrepreneurs who already have a business model but need additional support to advance to the next level.
Programming is flexible and tailored to needs identified by the local community. Participants first join a residential accelerator covering legal, financial and marketing aspects of business, then have access to year-long support. Many alumni are now benefiting from bespoke programs that help them pivot to stay viable in unstable economic climates – such as that created by Covid-19.
Support for First-Gens and women
One of the unique elements of the ygap model is its extension locally in Australia with their ‘First Gens’ program – adopted for migrants or refugees who face increased challenges when starting a business. ygap also runs programs for women-run ventures through their program yher, which operates in the Pacific Islands and across Africa where female founders are often underserved by the start-up ecosystem.
A trusted partner
When ygap CFO and COO Lisa Hyden partnered with Propeller in May 2019, she was seeking an accountant with a service offering that fit the size of their organisation. She knew this would ensure the team could be more responsive to all their needs. The Covid-19 crisis and additional support offered by Propeller during this time reinforced that they’d made the right choice in switching.
By building trust through consistent and high-quality work, Lisa is confident to leave the day-to-day financial matters of ygap to Propeller, freeing her up to focus on the more complex elements of the business.