Two Social Challenges – A Single Solution
Many young people want to work, but may find it difficult to find work in a tough labour market. On the other hand, many elderly people miss more activity, socialising and meaningful days at weekends when there are fewer activities in nursing homes and assisted living facilities.
Generasjon M helps young people enter the labour market while helping to reduce loneliness and inactivity among the elderly. They do this by employing young people in the age group 14-20 years as ‘M-friends’. The M-friends carry out activities for the elderly, individually and in groups, in nursing homes and in assisted living facilities.
Pioneering Change
Generasjon M has undergone a remarkable transformation in its business model to deliver high-quality services and document its social value creation. The company has recognized the importance of establishing long-term and predictable customer agreements. By introducing an innovative agreement structure involving three parties – the public sector, the private sector, and social entrepreneurs – Generasjon M, in collaboration with a private sector partner, offers municipalities partly (50 %) prepaid support for three years. This initiative minimizes financial risk for the municipalities and gives Generasjon M the necessary time to document its social value creation. Meanwhile, the private sector partner gets the opportunity to contribute to social innovation in the public sector. Public parties only commit to three-year contracts if Generasjon M achieves the predetermined social outcomes.
Innovative Collaborations
Our partnership with Generasjon M started back in 2016, and we have supported the company through various agreements. Our current agreement runs until the end of 2024 (with the possibility of extension until 2025) and still bases itself on grants and clear, shared goals for both impact and financial key figures. The public sector constitutes Generasjon M’s primary customer base, and they have succeeded in moving from individual sales to each nursing home, to securing social impact contracts through solid collaboration with foundations and municipalities. This is an impressive feat. We believe this will help Generasjon M achieve financial sustainability and significantly scale their business and solutions.
Generasjon M was awarded the title of Social Entrepreneur of the Year in 2016.