Miyerkules, Oktubre 21, 2015
Impact Hub Fellowship on Innovation in Mobility in Partnership with LBC
The worsening traffic conditions in Metro Manila is one of the major problems encountered by Filipinos in their day to day lives. The focus of this Fellowship program is to create innovative solutions to the logistics challenges and opportunities in our progressing region. Solutions may address the following areas: energy & resources in general efficient transport methods; methods to decrease traffic; smarter transportation management; and value chain innovation and new transportation methods.
The fellowship shall be executed into three phases:
PHASE 1: CAMPAIGN & APPLICATION
Application starts from October 1 until November 15, 2015. During this phase we invite everyone interested to benefit from an ideation workshop, where you will learn how to conceptualize your idea with a clear business approach. From all applications received, 6 - 8 candidates are invited to a pitching workshop and later to pitch in front of a professional jury panel, where the 3 finalists will be selected, who will then enter the cohort.
PHASE 2: COHORT
The cohort is an intensive 3-month acceleration phase, targeting the development of a full-fledged business model and/or prototype, as well as other key competences and start-up skills. Finalists further gain access to a personal coach, valuable networks and a stimulating workspace at Impact Hub. At the end of this phase, the Impact Hub Fellow will be selected, who will enter the incubation phase.
PHASE 3: INCUBATION
The goal for the Fellow during the 9-month incubation phase is to build a management team, found a legal entity, develop and test a prototype and/or enter the market and secure additional funding as well as customer contacts. During this phase the Fellow receives significant seed funding as well as connections to peer entrepreneurs, coaches, and other valuable contacts. These relationships, combined with focused skill development and access to a vibrant community of change-makers in an inspiring work atmosphere, help facilitate the start-up of a thriving social business.
Total Startup Funding(cash) - PHP 510'000
Total Startup Support - PHP 690'000
Fellows initiatives get significant seed funding as well as connections to peer entrepreneurs, coaches, and other valuable contacts. These relationships, combined with skills training, help facilitate the start-up of a thriving social business. Furthermore, Fellows receive free Impact Hub memberships to access a vibrant community of changemakers in an inspiring work atmosphere.
Funding is awarded to finance the very early steps of Fellow’s initiatives. Seed funding is essential to entrepreneurs entering the challenging shift from intention to action. This capital is to be spent for prototyping, business incorporation, and basic living costs.
The seed funding is not in any way related to the ownership of the Fellows and Runner-ups. None of the parties gets a right or whatsoever to take ownership of the participants.
Get immersed into the Impact Hub community of change-makers. The peer-to-peer effect in the curated Impact Hub spaces will make a big difference during the initial venture-forming phase. Fellows can fully focus on the development of their venture in a uniquely designed space and inspiring work atmosphere. While some famous tech ventures have started in a garage, social innovation happens at Impact Hub!
Together with their coaches, Fellows will develop and track a targeted milestone plan meant to advance the incubation phase of a Fellow’s venture. In cooperation with our partners and existing programs offered at Impact Hub, further training may also be offered to complement and strengthen Fellows’ critical skills.
Fellows plug into a network of like-minded individuals and experts, who will facilitate the beginnings, growth, and overall scale of each Fellow’s venture. Connections like these allows them to gain access to resources and that will ultimately increase the impact of their work. A mentorship approach to each venture means that Fellows will get exposure to an extensive pool of experienced colleagues, resources who will ultimate build connections to potential partners and investors.
How to Apply
Submit your idea to Crowdicity.
Fill up the application form. Do not forget to attach your mini business plan (Download template here).
Wait for confirmation.
I am not a Philippine citizen. Can I still apply?
Yes. You do not have to be a Philippine citizen to apply. But you will of course have to follow the laws and regulations of the relevant countries (especially working visa, etc.).
I am not based in Manila, can I still apply and will the prize still benefit me?
Yes, we welcome applications from anyone based anywhere in the world. Part of the awarding criteria is "how best applicants can make use of the prize". So, we would expect applicants to make clear how they would use the partner networks, workspace (http://www.impacthub.net/where-are-impact-hubs/ )& grant to the benefit of their business.
I have a great idea which isn’t to do with "Innovation in Mobility" can I still apply?
One of the key criteria for the judging panel is how the applicant's idea addresses the challenge as articulated "partners are looking for innovative initiatives that provide sustainable mobility solutions.
I’ve never started a venture before, or feel I have the skills needed. Can I still apply?
Absolutely!Just bare in mind we will be looking for applicants who can articulate how they will develop their idea and use the support on offer from the partners to do so. This may include the development of a skilled founding team to support the start up.
Do I need to have run a trial / have a prototype / a business plan?
No. We are looking for people with bright ideas that can be developed into amazing businesses generating a positive impact. However, you will have to talk in an informed way in your application about the viability of your proposed project / business. Equally, if you have run a trial or have a product prototype, this will not impede your application. Ask yourself, what questions you would want to have answered if you were a jury member, coming from the mobility sector.
If you need help developing your business plan, we are offering a workshop on [workshop date]
I already have an incorporated company, can I still apply?
Yes. However this competition is focused on early stage ideas, which can make the most of the development support on offer within the Fellowship. The ownership structure has to be explained in the business plan.
What time commitment do I need to give the Fellowship?
We would be looking for at least 30% of your time to be spent on the developing the venture / project - ideally more. The inclusion of the monthly living stipend is designed to give individuals some income to provide stability whilst developing the project / venture.
What am I committing to when applying for the Fellowship?
To pursuing your idea (or an evolution of the initial idea) into a start-up business. We would be looking for at least 30% of your time to be spent on the project, making use of the Impact Hub Fellowship's resources including Impact Hub Manila’s workspace, network, support structure and the partner's networks. We would also expect the winning individuals or team to sign an agreement around the grant finance and communications of the Fellowship.
Will you accept single founders (i.e. no team yet)?
Yes. We will accept applications from individuals or teams. If you are single founder, you should be even more clear on how you get the skills and experience into the company and how you keep those key employees attached to the company.
We are a team of more than one entrepreneur - will you still accept us?
If a team applies, or a team is already developing this idea, the awarded money is the same. Intent to build a team, and approach to doing this will be looked at in the application process.
What are you looking for in the ideas & individuals / teams that apply?
The jury will be looking for scalable, innovative solutions which address the challenge presented by high energy people with a desire to make a positive impact in this area. The selection panel will be judging:
The supposed impact of the initiative,
The approach of applicant,
How the applicants will leverage the Impact Hub & partner resources on offer,
How the documents & application are presented / overall quality of application.
Who will the money be given to - me or my company (if I have one)?
A grant agreement will be signed between the individual or organization and Impact Hub Manila. The living stipend will be paid monthly or quarterly. All prizes and awards are at the discretion of the jury / partner organizations and will be subject to grant agreements, which agree on completion of certain milestones - to be agreed with finalists.
Who decides who wins?
There will be a short-list and judging panel made up of representatives from all partner organisations, as well as experts with the logistics sector and start up business. The jury will be announced in due course.
What do we mean by social impact, and what are we looking for in a social business idea?
We mean an idea which effectively tackles an important social or environmental challenge, targets a balanced triple bottom line around people, planet and profit, an idea that can be realized (in general and by the particular entrepreneur or team), potentially achieves systemic change, i.e. fundamentally changes the systems of how we live, socialize, do business, eat, work, travel, etc. The idea is sustainable, i.e. socially, environmentally and financially viable.
What happens after the programme?
All shortlisted applicants will receive a 6 months Impact Hub connect membership, which will allow them to engage with the local and international network and make connections as they see of value. Once the Fellowship Period for the awarded Fellow and runner-ups comes to and end, Impact Hub Manila would encourage the winners to continue being part of the community. Although formal support will come to an end, Impact Hub has an extensive international and local network the entrepreneur(s) should be well embedded within by then. Also, depending on the development & support needed over the Fellowship period, Impact Hub and the partners will look into making valuable connections to follow on finance for the start-up.
Can I only apply if I’m from Manila?
No, you can apply from any country of this world.
It is required to physically attend at least a part of the events and sessions, like the pitching session, the start of the cohort, 1 monthly meetings with mentors (not physical presence required), progress report meeting at the end of the cohort phase, fellow selection event.
Please be aware that local laws and regulations apply.
Is there a minimum size for a team?
No, as long as the team convinces us and seems capable of executing the business plan and reach its goals.
Does Impact Hub Manila, the Jury, LBC or another party get shares of my company if I participate and/or win?
No, that’s not part of the deal. We want you and your company to succeed, that’s our motivation. None of the parties have any obligation beyond the participation of maximum one year.
If the Fellow and/or Runner-ups find an agreement with one or several of the partners (LBC, Impact Hub Manila, a jury member, a mentor, …), this won’t be part of the Fellowship or its regulations.
If the ownership of the Fellows / Runner-ups change, the organizer has to be informed beforehand. The other parties will be informed after the closing of a deal as such.
Which are good topics?
Topics you have a certain knowledge at.
For any questions, ask our project manager.
Do I need to work physically at Impact Hub Manila?
One of the benefits of being an Entrepreneur is, that you have a certain freedom of choice. You win a package which you can use or not – that’s up to you. Certainly, working at Impact Hub Manila will help you to progress and succeed. If you convince the jury that working at a different place is necessary or better for your success, that will be understood! Please be aware that for certain events you need to be present.
Can I lose the grant?
The grant is yours, and to be used at your entrepreneurial decision. Nevertheless, if you don’t follow the RULES AND REGULATIONS payments can be postponed, withheld or in the worst case cancelled.