Frequently Asked Questions about Impact Startup Factory
What is Impact Startup Factory?
Impact Startup Factory is a national acceleration program that supports sustainable consumption through entrepreneurs launching sustainable products and services.
The program will support at least 20 startups in Romania go through the first steps of the entrepreneurial process and build a community of mentors, investors and experts to contribute to innovation for environment and community, as well as a report of opportunities to innovate for lower consumption impact.
The program is implemented March 2016 – February 2017 and is co-financed by a grant from Switzerland through the Swiss Contribution to the enlarged European Union in total value of 73,116.72 CHF.
Can I join without an idea? Or without a team?
You can enrol for the bootcamp without a team and/or an idea, but you will need to have both at the end of the bootcamp to go on.
What if I cannot join a Warmup Workshop?
No problem. Warmup Workshops are optional, but we do recommend taking the time to join one to better understand if the program fits you.
What is the selection process?
Joining in the bootcamp is automatic, without a selection process (however, if there is something wrong – like a business idea that does not fit the theme of the program, we will let you know).
The first selection step will actually be the pitch session during the bootcamp, when the jury and participants will select the best 10 teams (per bootcamp) to go into the next stage, based on market potential and team competence.
The second and last selection step comes after the Pitch Day, when the jury will select 6 teams in total to receive the assistance of a shadow board, a business trip to Zurich and full business planning support.
Where is it happening?
The program is national, so you can join wherever you are. There are two central events you need to join – one Bootcamp and one Pitch Day – but the rest of the work happens where you are – ideally in your community.
What support am I getting?
- Training & facilitation to develop your business model and define your beach-head market and value proposition
- Webinars on key entrepreneurial steps
- Clear assignments to understand your customers and quantify value to customers to easily sell and outperform competition
- Pitch training
- Business trip to Zurich to understand sustainable entrepreneurship on a whole new level
- Business plan assignments and Solution Sessions to overcome challenges