The free business accelerator, which last year helped 23 impact businesses from 11 regions of Ukraine enhance their potential and expand opportunities, has announced the opening of a new participant enrollment. The annual program equips entrepreneurs with the necessary knowledge and skills for active business development and impact entrepreneurship as part of the country’s economic recovery and integration into the European Union.
Impact Business Accelerator, created by Impact Force in collaboration with SILab Ukraine, with the support of Ukrainian and international partners, offers Ukrainian companies from various sectors (agriculture, energy, infrastructure, healthcare, cybersecurity, and more) access to:
- 10 online modules covering key business topics and aspects of social impact;
- 9 exclusive lectures and workshops;
- Individual mentorship from international business development and promotion experts;
- The opportunity to present their business at Demo Day in December 2024;
- A community of like-minded social entrepreneurs from across the country;
- Free resources and materials from program partners.
Additionally, the most promising company will receive a financial support program of up to €10,000 from the Ukrainian Social Venture Fund as a result of the accelerator.
The accelerator program consists of two stages:
- The first stage is an introductory phase common to all enterprises applying to the program. After registration, participants will gain access to 10 online modules hosted on the Diia.Business portal. These modules cover key business topics and aspects of social impact, including: Introduction to Social Entrepreneurship; Impact Measurement; The Three Dimensions of Reporting; Marketing and Social Media; Sustainable Development for Business; Communications and Social Impact; Access to Investments and Grants; Human Resources and People Management; Business Operations; Scaling and Exporting.
- The second stage involves selecting the 40 most active businesses, whose representatives will have completed all online modules and submitted an extended application form. The questions in this form will be based on the information covered in the modules. Participants will be selected based on criteria such as financial performance and stability, team, business model, product/service readiness, scalability potential, and social impact. Detailed selection criteria are available on the Impact Business Accelerator website.
Selected participants will have access to an advanced training program, mentorship support, and individual consultations with international experts. The program will culminate with a Demo Day in December 2024, where participants will have the opportunity to present their business to potential investors.
“In 2023, we helped our participants not only grow their businesses but also achieve a social impact closely linked to several Sustainable Development Goals: 95% support economic growth, 43% responsible consumption, 56% climate action, 34% health and well-being, and 17% sustainable cities. Last year’s cohort has already proven its effectiveness, and we are determined to continue building on this success!” said Nina Levchuk, co-founder of Impact Force.
“The past few years have been a test for our country and all Ukrainians, but they have also opened up boundless opportunities for change and innovation. Through the previous cohort of Impact Business Accelerator, we supported enterprises offering solutions to pressing social, environmental, and economic challenges. The program’s results confirm that Ukrainian businesses are capable of delivering systemic social and environmental impact. This year’s accelerator will allow even more businesses to join and implement impact strategies for Ukraine’s recovery,” said Alona Kalibaba, co-founder of SILab Ukraine and CEO of the Ukrainian Social Venture Fund.
Impact Business Accelerator is initiated and implemented by the public organization Impact Force in partnership with SiLab Ukraine, with the support of the Ministry of Digital Transformation of Ukraine, the Office for Entrepreneurship and Export Development and the national project Diia.Business, the Ministry of Foreign Affairs of Latvia, and the social innovation platform New Door. The most promising company resulting from the accelerator will receive a financial support program from the Ukrainian Social Venture Fund.
For more information, please visit Impact Business Accelerator.