Running a social business is no easy task. It requires perseverance, social intuition, and a well-thought-out sustainability strategy to ensure that the solutions provided truly create a meaningful impact on society. Veronica Colondam, M.Sc., founder and CEO of the YCAB Foundation (Yayasan Cinta Anak Bangsa), visited FEB UGM to share her experiences as a sociopreneur in the field of social empowerment.
“Being an entrepreneur is difficult. Being a social entrepreneur is even more challenging, as we have to combine social values with financial outcomes. That is an art. Only those who are serious and sincere will be able to create a meaningful impact,” she explained.
She emphasized the importance of building a social business that originates from real problems in the surrounding community. Furthermore, establishing a social business requires sensitivity and social intuition. In the early stages of her journey as a socialpreneur, Veronica revealed that she had considered whether to set up a foundation or a social enterprise, as the chosen structure would determine the direction and sustainability of the programs implemented. For her, being a socialpreneur means addressing social problems and thinking about the long-term sustainability and impact of the solutions provided.
One of YCAB’s innovative approaches is integrating the financial world with a social mission through social investment strategies to maximize impact. A significant innovation developed by YCAB is the launch of the Juara Empowerment Balanced Fund (JEBF), a mutual fund in collaboration with Juara Capital Indonesia. More than just an investment product, JEBF is designed so every rupiah invested generates social impact, strengthening YCAB’s economic and educational empowerment programs.
“How can beneficiaries not only become the object of aid but also contribute back to society?” she asked, during the course Identifying Social Business Opportunity and Social Value Proposition, which was part of the Global Summer Week 2025 at FEB UGM on Friday (18/7/2025).
YCAB also implements social interventions through four main programs: Ibu Harta, Anak Pintar, Anak Juara, and Social Investment. These programs target female micro-entrepreneurs, improve children’s education quality, provide youth entrepreneurship training, and promote financial inclusion schemes. The long-term goal is to increase family per capita income and cultivate a generation of economically independent youth.
More than just innovation, Veronica emphasized that personal qualities also determine the success of a socialpreneur. According to her, humility and resilience are essential values that grow from life’s challenges.
“Being an entrepreneur is difficult. Being a social entrepreneur is even more challenging, as we have to combine social values with financial outcomes. That is an art. Only those who are serious and sincere will be able to create a meaningful impact,” she concluded.
Report: Orie Priscylla Mapeda Lumalan
Editor: Kurnia Ekaptiningrum
Sustainable Development Goals
