Impact Hub Vienna
For idea stage development of social business ideas, Impact Hub Vienna started a one-year education program for students called Social Impact Award.
Impact HUB Vienna is part of a worldwide network of shared working spaces bringing together people coming from different backgrounds but all striving towards social change. The Impact Hubs provides social enterprises/ social entrepreneurs with both physical infrastructure and a network, a community. Becoming a member costs a monthly fee. In Vienna, several options exist to better respond to differing needs: prices range from € 20 to € 280 and services vary from a simple access to a working space (equipped with WiFi, printer, scanner, storage, meeting rooms, etc.) to a free access to business workshops and experts for individual advice. Around 550 people are connected via the Impact HUB Vienna.
The program enables young people to learn more about the process of idea generation, basic social business modelling, planning etc. The program takes them on a journey from ideation to initial funding supported by incubation, mentoring and workshops.
Impact HUB Vienna runs several programmes addressing different target groups, and has notably co-founded an investment readiness programme.
Through Investment Ready, selected social ventures, coming from all Central and Eastern Europe countries, are provided with dedicated mentoring, coaching and consulting hours over a period of 4-5 months. One mentor, from the Boston Consulting Group, provides general business skills and a second mentor provides industry expertise. The mentors bring in new insights and provide access to networks. At the end of the programme, participants present their venture to potentially interested social investors /impact investors, notably during the CEE Impact Day, an event gathering all players active in the field of social investment. Investment Ready was launched in 2011. It is funded through a mix of investor donations, participant fees and success fee (percentage of investment an enterprise is successful in securing).
More at the official website.