The second batch of the Professional Graphic Design Training Program hold on in (GUKIET) with the overall support of the MOMODa FOUNDATION under the technical support of Creative IT Institute.
The training was officially concluded under the supervision of a research program “Research on Micro equity and Mentorship for Online Freelancing Based Micro Entrepreneurs in Bangladesh” for teacher’s congregations at the University of Oxford, New York, and the University of Maryland.
This project considers as an innovative new microfinance product, based on the principles of equity financing, in which promising potential entrepreneurs are provided with capital, training and mentorship to help them become online freelancers. A key question in the study of SMEs in low-income countries is what policies can help more dynamic entrepreneurs start and grow their businesses. However, recent studies that have attempted to alleviate financial constraints through the provision of microcredit, or human capital constraints through training programs, have shown limited impact. Novel work suggests that more personalized mentorship may have significant benefits for entrepreneurs. Following this wave, in this project considers an innovative new microfinance product, based on the principles of equity financing, in which promising potential entrepreneurs in Bangladesh are provided with capital, training and mentorship to help them become online freelancers. The researchers will work with potential micro entrepreneurs who have passed the screening stage for our online freelancing project.
This provides a unique opportunity to study the incentive effects of profit-sharing between entrepreneurs and mentors. We hypothesis that entrepreneurial mentorship is more effective when mentors are incentivized directly by the productivity of their mentees: when they have ‘skin in the game’. We target Bangladeshi college graduates of rural areas to finance the relatively high initial cost of an online freelancing training program, using different microfinance contract structures that we randomly assign. We are implementing the field experiment with Creative IT Institute, a global leader in training young and poor individuals to become online freelancers and with a significant presence in Bangladesh and with Gana Unnayan Kendra (GUK), a local NGO is located in Gaibandha.
The online freelancing industry is currently experiencing extremely high growth; there is also substantial policy interest in online freelancing from the Bangladeshi government. More generally, this project will inform the design of financial services for the poor in many developing countries, in particular for those looking for an alternative to high-interest debt-based financing modes. It could also be used as part of a government-sponsored program, in collaboration with online freelancing platforms, training institutions and existing microfinance institutions to promote the growth of micro entrepreneurs, in particular in rural areas. An equity-based product has the potential to meet the demands of millions of poor individuals who would otherwise have little or no access to finance.
The training course successfully with a very proud 3-month period (from 06/10/19 to 13/01/19) providing all the opportunities for the trainee in the completed digital lab. Under this project, students are given 6 months of basic training of internship (from 16/01/19 to 30/06/19). Apart from providing internship for the students and make an opportunity to work in the online marketplace is also created as a way of earning them. In the second batch 52 students completed the admission process. Out of the 52 students, 15 students completed 6 months internship very efficiently. They have won multiple contests in online marketplaces such as Freelacer.com, Fiber.com, Upwork.com and graphicriver.com. They have won multiple contests by designing very efficiently various designs such as Business cards, Logos, Posters, Festoon, Banners etc. This trend will continue in their future.
After the training and Internship of the second batch on the last 10/07/2019 they were given a course certificate, in the presence of Dr. Abu S. Shonchoy, PhD, Assistant Professor of Economics at Florida International University (FIU) and Dr. Momoe Makino, Research Fellow of the Institute of Development Economics (IDE-JETRO) and Visiting Scholar of Population Council. There also presented the Officials of MOMODa Foundation and Gana Unnayan Kendra (GUK).
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