The New Economy Booster powered by Impact Hub is designed to support impact-driven entrepreneurs with both advanced and early-stage ventures, startups, non-profit organizations, or initiatives based in Ghana and Nigeria that are contributing to the country’s post-pandemic economic recovery.
Impact Hub wants to boost solutions or ventures in sectors that have been affected by COVID-19, particularly those that are at risk of or have experienced job losses.
The Economy Booster is a seven-month tailor-made online program whereby successful candidates will get a range of customized content and resources to develop and grow their business and network while being guided by a team of local and global experts.
This is an opportunity to bring ventures to the next level, advance business skills, receive expert advice, and nourish potential investor relationships. This program has been created by Impact Hub in partnership with the lab of tomorrow and with the support of The German Federal Ministry for Economic Cooperation and Development (BMZ).
Criteria
To apply fill out the online form and successful applicants will be chosen by Impact Hub and partner representatives based on the following criteria:
- Impact – The potential recovery of the Post-COVID-19 economy in Ghana and/or Nigeria
- Scalability – The proposed solution has the potential to create local employment opportunities
- Feasibility – The proposed solution is technically and economically feasible
- Team – Commitment of the project team to follow through and collaborate
Who Should Apply
Impact-driven entrepreneurs with both advanced and early-stage ventures, high-potential startups, non-profit organizations and initiatives based in Ghana or Nigeria that:
- Identify key economic recovery challenges and opportunities in their local community
- Have the potential to generate a great social or environmental impact
- Are preventing job loss or generating new employment opportunities in industries that are suffering or are at risk of suffering
- Are scalable and are making some revenue or are projected to make some revenue in the near future
- Are already in the market or ready to go-to-market
Focus Areas
Nigeria: Healthcare, Agriculture, Education, Creative and Culture and Trade
Ghana: Agriculture, Healthcare, Education, Tourism and Hospitality and Manufacturing
Benefits
- Get business coaching
- Get peer support from other participants
- Receive senior expert advisory and consulting services
- Access partnership building opportunities
- Meet potential investors and have facilitated introductions to fundraising opportunities
- Have an expert in residence helping the project develop
- Access personal development and technical skills training
- Work and meet at an Impact Hub space (once lockdown restrictions get lifted)
Phases
Phase 1: Application | 1-month
We will source 500 innovative solutions, 250 per country, that address the challenges we have identified.
All 500 will receive: Access to our online global community via our Global Connect Membership.
Phase 2: Incubation | 2 months
We will select the top 100 ventures, 50 per country to incubate.
All 100 will receive: 5 hours of coaching, access to resources and connections and an online community to network with that will be tailored just for you.
Phase 3: Acceleration | 4 months
We will select the top 30 ventures, 15 per country to accelerate.
All 30 will receive: Project management and coordination guidance, a tailored diagnostic and development plan and access to a support network to help grow your business.
The program stages will run to a non-linear schedule starting on August 17th 2020 and running until February 2021.
Applications will be reviewed on an ongoing basis and high potential participants will be fast-tracked to the acceleration phase.
Apply: Nigeria and Ghana
