INSF Challenge Fellowship
The IN Santa Fe Challenge is an opportunity for social entrepreneurs to seed their projects, learn, grow and sustain their enterprises. It will bring together a select number of social entrepreneurs for a four-month period with supporting members of the community to develop integrated business plans that can leverage the systemic impact of their startup ventures. These projects will be selected through a competitive challenge, and winners will work closely with a team of topical experts and resource networks. Beyond the four-month “challenge” period, IN Santa Fe will continue to serve as a networking and resource support platform for these entrepreneurs.
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Download IN Santa Fe Challenge Details
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View slideshow from Information Session
Have a social venture or business idea that can benefit our community and world? Have the will and commitment to develop this venture into an investor-worthy business?
This fall, IN Santa Fe (Impact Network Santa Fe) is unrolling its pilot social venture start-up program designed to match great local social entrepreneurial ideas and teams with the individualized coaching, resource support, and peer-to-peer mentoring needed to build solid, integrated impact business models – plans that can attract the investors and resources needed to successfully launch, grow, and sustain their ventures.
Who is the Challenge for?
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Existing non-profits or for-profit businesses that want to launch a new venture that has strong positive social, environmental, and/or economic impacts for the Santa Fe/North Central NM Region
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Existing mission-related businesses that are looking to pivot beyond their existing market in order to leverage their positive impact
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Experienced entrepreneurs who have a viable, well-thought-out social venture idea that will positively impact our local community
Who is the ideal candidate?
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Is 100% committed to making their business a reality and is ready to test their business assumptions;
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Is determined to build a business solution to one or more clear and compelling local social, environmental, and/or economic issues;
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Has a viable and well-researched business concept;
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Demonstrates integrity, drive, passion, and an experienced track record in the area they plan to work;
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Is willing to commit to all of the program workshops, a group of entrepreneurial peers, and to taking on the challenges of social entrepreneurship.
What’s offered?
The Challenge is designed as a 5-month high-impact business development program that will provide three awarded social entrepreneurs and their teams with:
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Individualized mentoring from the best social enterprise coaches in the area
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Peer-to-peer support from fellow social entrepreneurs
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Business development support for developing a viable and effective impact business model
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Impact strategy development for leveraging and measuring potential impact
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Connection to IN Santa Fe’s growing network of local impact investors
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Free business promotion through public events, newsletters, and other media channels
Other than the time, dedication and hard work that we ask of all our participants, this pilot program is being offered free of charge.
Timing?
Program Duration: Early December, 2014 to mid-April, 2015
Basic Structure: Monthly two-day cohort work sessions with individualized mentoring provided between sessions. Publicity events, hosted at either end of the program to promote the three Challenge businesses and support their launch.
Want to apply?
Through a competitive selection process this fall, three social ventures will be awarded entry into the program. An overview of the application process is described below:
Fall 2014
Sept. 24th Mini-application is made available (Access the application here.)
Oct. 1st Challenge Q&A Session:
Come learn more about the Challenge, meet the organizers and ask them questions to your heart’s content. Here's the slideshow from that event!
Oct. 15th Mini-application deadline
Oct. 20th Applicant finalists are invited to submit proposals and schedule interviews
Nov. 10th Proposal deadline
Nov. 17th Challenge teams selected
Questions?
Contact us via email at info@sfimpact.org for more information regarding this program and IN Santa Fe’s other exciting initiatives.
Challenge FAQs
What if I don't have a background in business?
Background experience is one element that we will be looking at in selecting finalists, however, it is only part of the equation. If you have a strong social enterprise idea and the will to pursue it, we definitely encourage you to apply. We want to see where you are and what you know to the best of your current abilities. This helps us gauge how best the Challenge could effectively match your needs.
Do you have investors all lined up for entrepreneurs?
INSF has been actively growing an extended network of investors who are interested in investing locally for local impact. While we cannot guarantee funding to entrepreneurs– as it is up to the investors as to what they choose to invest in– we can connect enterprises to potential investor matches within our network and provide them with the business coaching needed to help make their enterprises investor-worthy.
How far along does this venture needs to be?
Ideally, we do want some applicants that are in the mid to late stages of start-up development. However, we want and encourage entrepreneurs with ideas at any level of preparedness to apply. The five-month challenge program is designed to meet entrepreneurs where they are and help them accelerate along their path, be it in the early, mid, or late stages of their enterprise development. Foremost, we are looking for the best and the brightest with the most impactful, viable ideas to get involved.
What happens if I win?
You will be accepted to a 5-month program, or non-linear accelerator, tailored to your enterprise’s needs, ranging from direct, hands-on business planning, to broader-based impact investing, to day-to-day pressing needs. The intensive 5-months of business and impact planning seeks to help your business grow to the level of readiness for investment at the end of the 5-month session.
What happens if I don’t win?
The Challenge is one pilot program in a larger ecosystem of support that INSF is actively working to build for social entrepreneurs in the region. Even if your social venture proves not to be a fit for the Challenge this year, by applying you have entered onto our radar and helped us learn more how we can best support you in succeeding years. We encourage you to stay connected, let us know your ideas for growing social entrepreneurism in our region, participate in our various public events, and stay tuned for further support programming in the near future.