Impact Hub New Economy Booster Program 2020 for impact-driven Entrepreneurs

Application Deadline: October 9th 2020

Come shape the post-COVID-19 economic recovery of Ghana or Nigeria. The New Economy Booster program is a chance to do so! 

The goal is to boost high potential solutions or ventures that are already in the market or ready to go-to-market and are creating a positive impact on challenges faced by key sectors in the Ghanaian and Nigerian economies. 

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). 

The New Economy Booster 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.

We want 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. 

In our seven-month tailor-made online program, 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.

Requirements

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

Those selected to be part of the New Economy Booster will get a chance to:

• Get business coaching
• Receive senior expert advisory and consulting services
• Meet potential investors and have facilitated introductions to fundraising opportunities
• Access personal development and technical skills training
• Get peer support from other participants
• Access partnership building opportunities
• Have an expert in residence helping the project develop
• Work and meet at an Impact Hub space (once lockdown restrictions get lifted)

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

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.

For More Information:

Visit the Official Webpage of the New Economy Booster Program 2020