The International Renaissance Foundation is announcing a Crowdfunding for Social Entrepreneurship as part of the EU4USociety project in cooperation with the European Union.
The purpose of the competition is to strengthen existing social enterprises, promote social entrepreneurship and create a positive practice of attracting community funds by social enterprises.
The priorities of the competition are to raise community funds to support the creation of new or expansion of existing social enterprises.
- The maximum amount that the Fund will co-finance under this initiative is UAH 200,000.
Step 1: Submission of a conceptual application by filling out an application form.
Criteria for selection of applications at the first stage:
- Social component of the enterprise (clearly defined social problem that the company solves; the relevance of this problem to the cross-cutting thematic priorities of the Renaissance Foundation – human rights, inclusion, gender equality, environmental sustainability, European integration of Ukraine, access to quality education, civic education, counteraction corruption; outlined target audience (beneficiaries) of the project);
- Realism of the business idea: sustainability of the enterprise (for current initiatives) or realism of the forecast of achievement by the enterprise of a certain level of profitability in the future;
- The capacity of the project team and financial feasibility (realistic collection of the stated amount through crowdfunding; reasonable and balanced budget expenditures).
Step 2: If your application is approved – you need to raise funds from citizens for your project on the “Common Cost” (partner platform of our program) or other crowdfunding website.
The term of preparation and holding of the campaign is not more than 6 months from the notification from the Partnership Fund.
Step 3: If the crowdfunding is successful – the Fund finances the project of the public organization in the amount equal to the amount raised through crowdfunding (but not more than the amount of co-financing confirmed by the Fund).
- The participants of the competition are non-governmental organizations, unions, associations, societies and other associations registered in accordance with Ukrainian legislation as non-profit or charitable organizations.
- The same organization cannot claim support in the total amount of more than 60,000 euros during the implementation of the EU4USociety project (2020-2023).
- The Foundation does not provide grants to political parties, religious communities and individuals.
- Grant organizations are responsible for monitoring the implementation of the project and evaluating its results, compliance with communication policy and branding of EU projects. Grant recipient organizations will submit reports on the funds provided by the Fund in accordance with the reporting forms in the format specified by the Fund. Mentoring support (if necessary) can also be organized to prepare crowdfunding campaigns.
- To help the organizations selected in the first stage, the Renaissance Foundation together with partners organizes an online workshop on crowdfunding. The winning organizations of the first stage of the competition and the recipients of grants will also be invited to participate in grant meetings and other events organized by the IRF to network, train and strengthen the organizational capacity of EU4USociety project partners.
For more information, visit https://www.irf.ua/contest/konkurs-kraudfanding-dlya-soczialnogo-pidpryyemnycztva/