|Edited copy ENG|
|Sub header||About the New Economic Booster program|
|Q||What is the New Economy Booster program about?|
|The New Economy Booster program is designed to support impact-driven entrepreneurs with both advanced and early-stage ventures, startups, non-profit organizations and initiatives based in Ghana and Nigeria that are contributing to the country’s post-pandemic economic recovery.|
|Q||In what countries should the ventures be based in?|
|We are looking for projects and ventures based in Ghana and Nigeria. |
|Q||How many startups will the New Economy Booster program support?|
|The program is divided into 3 phases and each phase will provide a different level of support.|
Phase 1: Community building
We will source 500 innovative solutions, 250 in Ghana and 250 in Nigeria, that address the challenges we have identified.
All 500 selected solutions will receive access to our online global community via our Global Connect Membership.
Phase 2: Incubation
We will select the top 100 ventures, 50 in Ghana and 50 in Nigeria, to incubate.
All 100 ventures will receive 5 hours of coaching, access to resources and connections and an online community to network with that will be individually tailored.
Phase 3: Acceleration
We will select the top 30 ventures, 15 in Ghana and 15 in Nigeria, to accelerate.
All 30 ventures will receive business coaching, senior expert advisory and consulting services, introductions to potential investors, access to personal development and technical skills training, peer support from other participants, access to an expert in residence who will help with project development.
|Q||Who created the New Economy Booster program?|
|Impact Hub is a global network focused on building communities for impact at scale. With 100+ communities of 16,000+ change-driven entrepreneurs in more than 50 countries across five continents, Impact Hub is one of the world’s largest communities and accelerators for positive change. We build ecosystems to drive collaboration and entrepreneurial innovation around the Global Sustainable Development Goals through locally rooted Impact Hubs, as well as with partners and allied networks.|
|Q||Which industries will the program focus on in Ghana and Nigeria?|
|The industries covered in Ghana and Nigeria are as follows:|
Ghana: Agriculture, Healthcare, Education, Manufacturing, Tourism and Hospitality.
Nigeria: Agriculture, Healthcare, Education, Trade, Creativity and Culture.
View the selected challenges for each industry here.
|Q||How long does the New Economy Booster program run for?|
|The program stages will run to a non-linear schedule starting on August 17th 2020 and running until February 2021. |
How long will each phase go for?
Incubation: 2 months,
Acceleration: 4 months.
Applications will be reviewed on an ongoing basis and high potential participants will be fast-tracked to the acceleration phase.
|ENTERING THE PROGRAM|
|Q||Does it cost to be part of the New Economy Booster program?|
|No, the program entry and participation is entirely free for all participants.|
|Q||What support will I get if I am selected for the New Economy Booster program?|
|Those selected to be part of the New Economy Booster will receive: |
Senior expert advisory and consulting services,
Connection with potential investors,
Personal development and technical skills training,
Peer support from other participants,
Impact Hub's global community membership.
|Q||Where can I find more information about the Terms and Conditions?|
|You can find the complete list of *Terms and Conditions* here. Please read them carefully. In order to submit your application you need to agree to all the Terms and Conditions. |
|Who retains the rights to the documents I submit?|
|The applicant retains all rights to the content and documents they submit.|
|Q||How do I apply to be a part of the New Economy Booster program?|
|Simply fill in the entry form online [hyperlink] and accept the Terms & Conditions [hyperlink]. The organizers will evaluate the applications against the entry criteria and if your solution meets these criteria it will be published online and you will officially be part of the New Economy Booster program. |
The organizers will send you an automatic email informing you if your solution has made it through into the competition or not. A panel of experts will then evaluate all the submissions and choose the top solutions that will be matched to mentors and coaches from the curated program network.
|Q||Can I enter as an individual or do I need to be part of a team?|
|You can apply as an individual or as a team. We will consider all project and venture registrations such as non-for-profit (association, charity, foundation); for-profit company (commercial company, partnership); undecided; self-employed, freelancer or not (yet) defined.|
|Q||Can I submit more than one project?|
|Yes. You can submit more than one project as long as it fits the entry criteria. Please note that only one project per applicant can move to the next stage if the judges select more than one of your ideas.|
|Q||Can I change and update my entry after submitting it?|
|No. Once your application is submitted you will not be able to edit or make any changes to your application. Before submitting your application make sure that you have entered all the necessary information and content.|
|Subheading||CONFIDENTIALITY & RIGHTS|
|Q||Who will see my application? Will everything I submit be made public?|
|Q||I'm running out of time to complete the application and might miss the deadline. What are my options?|
|We recommend that you focus on short and consise answers that will meet the basic entry requirements in order to submit your application on time.|
|Q||What if the website goes down and I can't submit my application?|
|We hope that this does not happen however, if you run into problems then contact your local Impact Hub (where you are sending your application), which will be either Impact Hub Accra or Impact Hub Lagos, and they will support you to find a reasonable solution. Refer to the contact form on our website to get in touch with the team that is right for you.|
|Q||Why has my application been rejected?|
|If you are not sure why your entry has been rejected, please take a look at the program's entry criteria. If you have a specific question about your project’s eligibility to be part of the program, please get in touch with your local Impact Hub in the region of your application (either Impact Hub Accra or Impact Hub Lagos).|
|Q||Who will select the top 50 and top 15 startups that will recieve the incubation and acceleration support?|
|A panel of experts will evaluate all submissions and select the top 50 ventures and finally the top 15 that will go through the New Economy Booster program.|
|Q||How will I know if I am one of the finalists?|
|All participants will receive an email notifying them if their application has been succesful or not.|
|Q||What if I received an email saying that I am one of the finalists, what is next?|
|If you are selected for the program, we will invite you to an onboarding event (virtual or in-person) to outline the program offer in more detail and to make sure you start receiving the best support for your project/venture. All of the support will be personalized however, the program may include some cohort-based activities or events. |
|Q||Still have questions?|
|If your question has not been answered please do not hesitate to get in touch with the Impact Hub team in the region you are applying from. The program team will be happy to help answer any of your questions. Please send us a message via this contact form.|