Application Deadline: October 9, 2020
Applications for the Impact Hub New Economy Booster Program 2020 are now open. 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.
They 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 the 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.
Program Phases
• Phase 1: Application | 1-month
They will source 500 innovative solutions, 250 per country, that address the challenges we have identified. All 500 will receive access to the online global community via the Global Connect Membership.
• Phase 2: Incubation | 2 months
They 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 them.
• Phase 3: Acceleration | 4 months
They 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 their business.
Benefits
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).
Eligibility
Open to 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.
Selection 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.
Application
Applications for solutions/ventures will close by October 9 or after the first 500 submissions (250 per country).
For more information, visit New Economy Booster Program.
