Incubation stipends for social startups
Social entrepreneurship is in the air – especially this week. In case you’ve missed out on our coverage of the Social Impact Award 2013, you might want to catch up on it here. With a number of outstanding projects already in the making, there is a new initiative coming out of HUB Vienna Incubation that is looking to select its first batch of startups to hold incubation stipends. The deadline for applications is 30 May.
What’s it about?
The initiative is called Social Impact Enterprise – a concept created by iqconsult, sponsored by SAP, and managed and hosted by the HUB. It is already up and running in Berlin and Hamburg, it is currently being launched in Vienna and Zurich, and is soon to expand to Munich, too. The focus of the format is on social and environmental startups with innovative and scalable ideas and projects.
How does it work?
The Social Impact Enterprise is now accepting applications, and will have a window open every four months. Submissions are welcome from anywhere around the world, yet, applicants must be willing to relocate to Vienna for the programme, and work at least half a week from the HUB. Both early-stage and more mature startups are encouraged to apply as long as they haven’t been on the market yet. As the main goal of the Social Impact Enterprise is to support teams on their way from idea to market, it’s very important that they haven’t been commercialised yet, programme director Christine Spernbauer explained for inventures.eu.
The incubation stipend will run for up to eight months for those startups who have demonstrated steady progress and growth. At the end of the first four months, each team will present their achievements up to that point, which will determine whether or not they will continue with the programme.
What does it offer?
Once accepted foran incubation stipend, the startups will receive active HUB membership – including workspace, and access to the HUB global network. On that same list are also business coaching, mentorship from an SAP employee, and lots of feedback and peer-learning, among others.
In order to be considered for the stipend, teams will first have to apply online by 30 May. To do so, follow this link. The best eight applications will be selected by the teams of iqconsult and HUB Vienna Incubation, and will be invited to deliver a five-minute pitch in front of an expert jury on 17 June. Half of the teams will then be chosen for the incubation stipend, and will enter the programme in July.
Important dates at a glance
Social Impact Enterprise Vienna
Deadline: 30 May
Pitch: 17 June
Programme start: July
Social Impact Enterprise Zurich
Deadline: 20 June
Pitch: 3 July
Programme start: mid-July