Our Inspiration
We Make a True Difference in their Life For the Long Run
In the early 1970s, Muhammad Yunus was teaching economic theory to students at Chittagong University in Bangladesh. Outside the university campus, however, he witnessed crushing hunger and poverty. His desire to help the local community led to a simple but powerful gesture. Yunus loaned $27 to destitute basket weavers in a village near the university.
He could not believe the impact such a small amount of money had. For people living on just a few pennies a day, even a few dollars could transform their lives, and in many cases, it did. The money was used to support and expand small businesses, helping many people overcome poverty. Much to Yunus' surprise, the basket weavers repaid their loans, and they did so on time. Encouraged by these results, he continued traveling from one village to the next, supporting entrepreneurs and funding a wide variety of business ventures.
In 1983, Yunus founded Grameen Bank, the institution that helped pioneer and expand the concept of microcredit. By the time he received the Nobel Peace Prize in 2006, Grameen Bank had outstanding loans to nearly 7 million poor people across 73,000 villages in Bangladesh. More importantly, Yunus, 71, helped create a global movement toward microlending. The Grameen model expanded to more than 100 countries worldwide and helped millions improve their lives. In 2011, Yunus was named the 12th most influential entrepreneur of our time by CNN Money Magazine.
Inspired by Yunus' vision, Fuel A Fire aims to build on his success by encouraging entrepreneurship and helping alleviate poverty among tens of millions of families over the course of only a few years. By working with organizations such as Kiva, Opportunity International, and Hope International, Fuel A Fire connects donor and investor support with entrepreneurs in developing communities.
Driven by the desire of many successful entrepreneurs to leave a legacy greater than themselves, Fuel A Fire combines Yunus' vision with EO principles to fuel entrepreneurship around the world and create meaningful economic impact on a global scale.