Social Impact Award – Incubation Program (Hungary)

Take the first step as a social entrepreneur! During the incubation program, you will receive all the resources you need to turn your idea into a successful business.

Their incubation provides a comprehensive experience that provides the support needed to build a successful business. While the most promising businesses from the incubation take home the social impact award, the experience provides all finalists with skills and knowledge that will help them throughout their social entrepreneurship journey.

Structure of the Incubation Period

• Bootcamps
  • Short and intensive training courses where you can learn a lot about developing your social enterprise.
• Personalized mentoring
  • Each finalist team is provided with a mentor who works with them on an individual basis and gives specialized support based on their needs. Finalists are provided a mentor that works with them on an individual basis and gives specialized support based on their needs.
• Gatherings and entertainment
  • Meetings specifically designed for networking among finalists, where finalists can discuss their professional and personal challenges, give and receive support from each other, and have fun together.
• International webinars
  • Webinars for all finalists from each country focusing on skills development, international networking and more.

Benefits

• Incubation provides the following benefits to participants:
  • Personalized support: Their network of experts and mentors provides personalized guidance to finalize and prototype business and impact models every step of the way.
  • Meaningful connections: you belong to a team of like-minded young people with whom you can build long-term relationships and exchange ideas.
  • Global exposure: Build your first following and gain exposure with their community voting, an annual campaign where thousands of people vote for their favorite businesses.
  • Key Resources: The most promising businesses can take home one of their awards, which includes funding, recognition, and a ticket to their annual SIA Summit. They can also access additional benefits, which may include a co-working space, unique opportunities from partners, and more.

Eligibility Criteria

• Applicants must meet the following criteria:
  • In order to ensure that their program continues to focus on young people, all members of the applicant core team must be legally between the ages of 14 and 30.
  • They accept both ideas that have not yet been implemented and ideas that are in the early stages of implementation. However, ideas in the early stages of implementation can only be submitted if the project was created after January 1 of the previous year.
  • The applicant projects must not have received significant official seed funding prior to submitting the application. This means official support from external sources exceeding EUR 6,000 (e.g. angel investment, scholarship, award, etc.).
  • The applicant team could not have participated in the SIA incubation with the same idea they applied with, and could not have won the Social Impact Award in previous years.

For more information, visit SIA.