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Nobel Peace Prize laureate and social entrepreneur
Photo courtesy: Larm Rmah
We know that they’re also willing, going by studies that show millennials want their jobs to be more than a pay packet. Little surprise then that the startup scene is buzzing with social entrepreneurs.
They have a friend in Allianz. As a responsible corporate citizen, Allianz believes in empowering those who want their businesses to make not just money but also a societal impact. And so we are giving entrepreneurs working towards social inclusion of children and youth a chance to learn the nitty-gritties of developing and running a successful business and attracting investments.
One lucky social startup also stands to win a grant of 40,000 euros from Allianz.
For now, the program targets social startups in Brazil, Germany, Malaysia and Turkey.
The business must be incorporated in one of these countries and target issues that prevent children and youth from building a good life. The focus areas are diverse, ranging from education to health to gender inequality and others, depending on local needs.
The startups applying for the program must meet some basic requirements. The technology, product or solution you are developing must be proven feasible and you should have done some initial market validation in terms of price testing, customer development and trial licensing with positive results. Your product or solution should also be scalable and your financial model should fit the challenge you are addressing.
Once all the applications are in, teams from around 10 social ventures will be selected for a six-month training program, which will review their business models and strategy, and help them craft a sustainable growth and investment plan.
Through this period, mentors from Allianz and its partner Impact Hub will train participants. From building a customized development plan and reviewing shareholder structure to creating term sheets and getting in touch with peers in the impact investment community, you will learn much about setting up a sustainable business. You will also learn to navigate the impact investment scene and present your venture in various formats to raise funds.
The program includes training at the Investment Ready Academy I and II in Munich in January and June 2018. There, participants can learn how to set goals, milestones and valuation for their business, build an investment case, do financial planning and measure the impact it makes. Networking is perhaps one of the most important aspects of entrepreneurship. Participations at the ‘Financiers’ Fair’ will give you a chance to build valuable contacts.
On June 15, 2018, a grand finale at the Allianz Auditorium in Munich will see the teams pitch their ideas to a jury. The winner will get the Allianz Future Generations Award, which comes with a 40,000-euro grant.
For Allianz, the program is yet another initiative to promote our Corporate Responsibility strategy, one of the pillars of which is social inclusion.
“We need different actors and approaches to realize a truly sustainable and inclusive society, and the effort needs to take place around the world,” says Katharina Latif, the Head of Corporate Responsibility at Allianz SE. “We want to not only lend our support to these startups as a strong international company but also hope to build bridges between different countries and cultures working towards the same goals.”
Allianz’s partner Impact Hub will support the program through its chapters in Sao Paolo, Munich, Kuala Lumpur and Istanbul.
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