With the Munich Impact Incubator, Munich Business, the economic development agency of the Department of Labor and Economic Development, supports Munich impact startups with coaching, co-working spaces, and prize money. Specifically, the new startup incubator is intended to impact-oriented business growth and promote social innovation in Munich. Founding teams of two or three people who have either recently founded a company in Munich or are planning to establish a company in the state capital soon are eligible to apply.
Munich Impact Incubator: Consulting, coaching and support
Five teams will be selected and receive four months of consulting and coaching. Individual tax or legal advice can also be provided, up to a maximum of €500. There will also be a comprehensive workshop program. Topics covered include business planning, impact measurement and impact management, entrepreneurial personality, financing, and pitching. All participants will be provided with a co-working space at Munich Urban Colab upon request for the duration of the program.
Most importantly, all participating teams receive prize money. At the end of the Munich Impact Incubator, the teams will pitch to a panel of experts. No one goes away empty-handed, as there are five prizes for the five teams. The prizes are tiered. First place receives €15,000, and fifth place receives €2,000.
Incubator program as a complete package with financing
There are already many funding programs for founders. Munich Startup wanted to know how the Munich Impact Incubator came about and what the goal behind the funding program is.
Munich Startup: Was there a specific need for a new funding program?
Angela Hörmann, Social Innovation Team: Of course, there are already several funding programs in Munich. What doesn't yet exist, however, is an incubator program that offers a complete financing package specifically targeted at impact startups. We want to fill this gap.
Munich Startup: What is the goal of the Munich Impact Incubator?
Sabine Folberth, Social Innovation Team: We aim to promote impact-oriented business growth and social innovation in Munich. Our goal is to provide impact founders with the best possible support during their startup process and the early stages of their self-employment.
Further information, conditions of participation and the application form are available on the Munich Business websiteThe application deadline is August 31, 2024.
