Deadline: 1-Oct-23
Applications are now open for the Bridges for Enterprise Startup’s multi-stage Incubation Programme.
The multi-stage Incubation Programme is provided free-of-charge for passionate entrepreneurs seeking to solve some of the world’s most urgent challenges.
Goal
- The goal is to support social enterprises on the path to financial sustainability and creating impact in their communities.
Services
- Consulting (guaranteed): BfE Consulting engagements are the first component of the Incubation Programme. From growth strategy to impact assessment, the talented associates tackle your most pressing challenges. (Timeline: 3-4 months)
- Finance Advisory (guaranteed): BfE Finance Advisory engagements are the second (and final) component of the Incubation Programme. From revenue forecasting to grant writing, the talented associates strive to make your business ready to attract funding. (Timeline: 3-4 months)
- Legal Advisory (optional): BfE Legal Advisory engagements are an optional component of the Incubation Programme. Any accepted startup can request legal support either upon acceptance into the Programme or before the Finance Advisory engagement begins. (Timeline: 3-4 months)
- Technical Advisory (optional): BfE Technical Advisory engagements are an optional component of the Incubation Programme. Any accepted startup can request technical support either upon acceptance into the Programme or before the Finance Advisory engagement begins. (Timeline: 3 months or 6 months)
Desirable Qualities
- Business Model
- Customer-centric understanding of target audience
- Documented revenue stream(s) and other financial metrics
- Clear business model backed by strategies for achieving KPIs
- Product/Service
- Minimum viable product (MVP) with good product-market fit
- Sustained momentum in customer growth and demand
- Management
- Driven and committed leadership team working full-time
- Equipped with relevant capabilities and expertise
- Team consists of more than one founder
- Social Impact
- Impact alignment with one or more of the UN SDGs
- Impact is fully integrated into core business practices
- Proxies for social and/or environmental impact are identified and measured
- Communication
- Prompt in responding to requests for information
- Easily contactable and willing to engage with BfE teams virtually throughout the programme
- Advisory Need
- Actionable problem statement with clearly articulated objective(s)
- Devised initial strategies to address the problem but faced challenges
Eligibility Criteria
- You are a for-profit or non-profit social enterprise
- You are an early stage startup at the pre-seed or seed stage
- You have an existing product or service and have started earning revenue
- Your business is legally established in Africa, Asia, Latin America or the Middle East
- You demonstrate a clear path to financial returns and social impact
- They accept social enterprises that can demonstrate:
- Innovative Solutions: You have developed a unique minimum viable product (MVP) that addresses a key development challenge.
- Proven Results: You have a revenue generating business model with at least 6 months in operation.
- Positive Impact: Your business generates positive environmental or social impact in the communities you serve.
- Committed Management: Your company’s leadership team has a demonstrated track record of commitment.
- They accept:
- Startups that have already begun operations and have an existing revenue stream
- Startups that have a clear social and/or environmental impact at the core of their business
- Startups based in countries that have relatively less access to business mentorship or startup network
For more information, visit Bridges for Enterprise Startup.