Summary
NewBees prepares newcomers, refugees, for a job: for a place in society. They match newcomers to traineeships with local entrepreneurs and organizations, where talent and equality are key. NewBees has developed a unique methodology and online matching platform to combine smart technology with social contact so that they are always close by. NewBees brings people together every day with the dedication and commitment of their diverse network.
Investment Thesis
NewBees is active in the Netherlands in seven cities. In 2021, Dutch integration laws will change, shifting responsibility for integration to municipalities (currently, migrants and refugees are themselves responsible for learning the language and finding their way in their new societies, which they pay for with a loan provided by the government). At the end of 2020 and in early 2021, tenders will be published by all municipalities across the country for the procurement of products that allow people to learn the language and participate in society as soon as they arrive in their new cities. NewBees aims to win between ten and fifteen of these tenders in 2021 with its proven product of NewBees Traineeships, as such doubling in size and allowing the company to grow towards 10% profitability by 2025. NewBees is well positioned to win these tenders due to a unique partnership with an acclaimed language school and a proven track record showing an increase in wellbeing for each traineeship participant with a value of EUR 10,000.
Starting in 2023, NewBees will expand its reach beyond Dutch borders and introduce the NewBees methodology in other European countries.
Refugee Impact
The integration of newcomers into society is a relevant societal challenge. A recent analysis shows that NewBees’ innovative approach to this creates strong value for society by helping newcomers become part of Dutch society through actively matching them with traineeships.
Since NewBees started in 2016, they have had around 1,000 successful matches. The total value of the analyzed impacts from the activities of NewBees in one city is estimated to be more than 1 million euros*.
NewBees’ activities have a particularly strong positive effect on the well-being of their participants. Through professional participation, people experience a notable degree of well-being due to general work enjoyment, increased social bonds, change in their social status, and increased feeling of autonomy.
The overall impact for the government is also positive. The positive impacts outweigh the negative financial impact of the subsidies that the municipalities grant to NewBees and to companies that employ NewBees’ participants.
The increased employment due to NewBees’ activities leads to lower government expenditure on welfare benefits and higher revenues from income taxes.
Management
NewBees carries out activities as ‘NewBees Inclusion Solutions B.V.’. ‘Stichting NewBees’, an NGO under Dutch law, is a priority shareholder of NewBees Inclusion Solutions. The NGO has a large say in the organization, particularly when it comes to decisions that touch the enterprise’s social mission. In addition to the ‘Stichting NewBees’, which has Dutch ANBI status, founder Annemiek Dresen is a shareholder of NewBees through Novato Holding B.V.
The NewBees Foundation and Novato Holding B.V. sit together in the shareholders meeting of NewBees Inclusion Solutions B.V. This way, the social purpose of the organization is protected, and it can participate in economic transactions in an entrepreneurial way.
Annemiek Dresen is the founder and director of NewBees.
The Supervisory Board consists of five individuals with extensive backgrounds in impact investing, finance, and coaching.
Structure
NewBees is a social enterprise based in the Netherlands.