With the Munich Impact Incubator, Munich Business, the economic development department of the Department for Work and Economics, supports Munich impact startups with coaching, co-working spaces, and prize money. Specifically, the new startup incubator is intended to promote impact-driven business growth and social innovation in Munich. Founding teams with two or three members who have recently founded a company in Munich or plan to do so soon in the state capital can apply.
Munich Impact Incubator: Consulting, coaching and support
Five teams will be selected to receive consulting and coaching for four months. If needed, individual consulting on tax or legal matters up to a maximum of 500 euros can be used. There is also a comprehensive workshop program. Topics include business planning, impact measurement and impact management, entrepreneurial personality, financing, and pitching. In the Munich Urban Colab, all participants can request a co-working space for the duration of the program.
The most important thing: all participating teams receive prize money. At the conclusion of the Munich Impact Incubator, the teams pitch to an expert jury. No one goes away empty-handed, as there are five prizes for the five teams. The prizes are tiered. First place receives 15,000 euros, fifth place receives 2,000 euros.
Incubator program as a complete package with funding
There are already many support programs for founders. Munich Startup therefore wanted to know how the Munich Impact Incubator came about and what the goal behind the funding program is.
Munich Startup: Was there a concrete need for a new funding program?
Angela Hörmann, Team Social Innovation: There are of course already some funding programs in Munich. However, what doesn’t exist yet is an incubator program that offers a complete package with financing specifically aimed at the target group of impact startups. We want to close this gap.
Munich Startup: What is the goal of the Munich Impact Incubator?
Sabine Folberth, Team Social Innovation: We want to promote impact-driven business growth and social innovation in Munich. The goal is to best support impact founders in the founding process and early phase of their self-employment.
More information, participation terms and the application form can be found on the website of Munich Business. The application deadline runs until August 31, 2024.
