Yousuf Caires is the executive director of Expo City Dubai Foundation, a new nonprofit organisation established by Expo City Dubai Authority to take forward the legacy of the Expo Live programme.

In this episode of Shaping Philanthropy, Yousuf talks about why Dubai is so committed to supporting social entrepreneurs and how the new foundation is giving UAE university graduates the chance to launch new ventures through its Changemakers Academy.

“We are trying to create a new wave of grassroots entrepreneurs and create a bridge for graduating students who feel like it’s the right time to start their own business,” he says.

“If you've ever been an entrepreneur, even if you failed many times, that experience is forever and it will benefit you whether you continue on that path or change paths because it is a great learning process, so I really think more people should give it a try.”

Expo Live supported 5.8 million people and Yousuf says the plan is to double that in the next four years, with a renewed focus on MENA, where he says opportunity sits alongside crisis.

“The mission of Expo City Dubai Foundation is to focus on the right ideas, in the right hands, doing the right thing, creating a positive impact in our society or in the environment, whether it's in the UAE or abroad,” he explains.

On creating a “triple bottom line”, he says: “I would love that all future businesses are social enterprises.. .with an equal commitment to driving financial returns for investors, but also driving a positive impact in society.”

During this wide-ranging conversation with Anissa Punjani, Yousuf also talks about his own entrepreneurial journey with Palmade, a social enterprise he runs with his wife, using discarded palm leaves to make biodegradable cutlery.

“The idea came from wondering how can we replace single use plastic and deal with that global problem using a local solution, using a raw material that's right here,” he says.

Yousuf is also the founder of the Milele Zanzibar Foundation, the largest NGO in Zanzibar, whose mission is to better channel diaspora and Gulf funding to accelerate progress in health, livelihoods, and education.

He shares the origin story of the foundation and describes how its programmes are supporting economic growth but within the wider context of social development and women’s empowerment.

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Circle is a partnership between Philanthropy Age and the Pearl Initiative. It is supported by the Gates Foundation.