Impact Innovation Lab Cohort 1- Application for Seed Funding

Impact Innovation Lab (The Lab) is now accepting applications for seed funding!

Cohort 1 began its Elementary Training in July, which included a series of courses and activities aimed at equipping participants with essential skills and knowledge for running their social innovation projects. Now, Cohort 1 is launching an open call for social innovation ideas and accepting applications for seed funding. Awarded projects will receive up to $100,000 in seed capital and enter a six-month incubation period. With guidance from multidisciplinary experts, access to resources from a makerspace and co-working space, and commercial referrals, The Lab helps startup ideas come to fruition.

The Lab welcomes permanent residents of Hong Kong who are 18 years old or above to join. Interested parties can form teams of one to five members and submit proposals related to local poverty alleviation and social inclusion. 

Application deadline: August 21, 2023 (Mon, HKT 17:00)

(*For the new applicants, please click “RSVP” now! An email with proposal submission guidelines will be sent to your email address; For the existing applicants of Cohort1, please go to our platform Glide to submit your funding application.)

Schedule:

Early-Sep	Eligible teams will be invited to the First Pitch
9-10 Sep (Sat-Sun)	First Pitch, conducted at Makerbay
Mid-Sep	Shortlisted team will be invited to the Final Pitch (JVC)
22 Sep (Fri)	Final Pitch (JVC), conducted at Makerbay
Early-Oct	Announcement of awarded teams
Dec	Start 6 months incubation

 

Required Documents for Application:

Business Proposal

Budget Plan

Declaration and Consent Form

 

Evaluation Criteria:

Idea’s Innovativeness	15%
Social Impact	20%
Project Readiness	30%
Business Model and Market Analysis	20%
Commitment (Only applied to participant who attended the elementary training)	15%

 

F.A.Q

1. Can I submit applications if I didn’t join the elementary training?

Yes, but you will no longer have the score of “Commitment” due to the absence of elementary training.

2. Do I need to register a company to submit the application?

No, it is not necessary to submit the proposal as an organisation/company. However, awarded projects are required to register their business before the start of the incubation and to open a company bank account to receive the seed capital grant.

3. Can I submit more than one proposal for the incubation application?

Yes, you can submit multiple proposals, but each proposal should show its difference and uniqueness in terms of ideas and target groups.

 

Should you have any questions, please contact us via Email: thelab@makerbay.org OR Telephone / WhatsApp: +852 4638 0364.