FYA’s social enterprise YLab to spin out in 2024
Co-design and consulting social enterprise YLab will spin out from FYA in 2024 to become an independent entity.
Co-design and consulting social enterprise YLab will spin out from the Foundation for Young Australians (FYA) in 2024 to become an independent entity.
Imagined by FYA in 2016, YLab’s mission is to co-design better systems and services with young people.
As the organisation embarks on a new 2023-25 strategic direction backed by $1.8 million in core funding from Macquarie Group Foundation and Brian M. Davis Foundation, this new operational independence will power YLab to achieve its goals.
“Over the past seven years FYA has provided essential incubation and support that has backed us to build our foundations and set ourselves up as a co-design and consulting practice. We’ve employed 150 young people as Associates and worked with 250 organisations to design better systems and services,” YLab Executive, Brigid Canny said.
“We’re now ready to strengthen our impact, with our team and community of young people for this next chapter in our history.”
FYA Acting CEO Molly Whelan said the transition marks an exciting moment in the journeys of both YLab and FYA.
“YLab has contributed enormously to our strategy and work, and will continue to be a part of our community with new opportunities for collaboration and partnership emerging. We’re excited to see them become more powerful and impactful than ever before.”
YLab will establish its own board and governance structure in early 2024, while remaining a wholly-owned subsidiary of FYA.
Sign up to YLab’s mailing list for more updates on the transition.
FYA Media contact Shona McPherson | shona.mcpherson@fya.org.au
YLab Media contact Adam Legg | adam.legg@ylab.global
