The Ukrainian division of the American startup accelerator Founder Institute announced the launch of the National Social Startup Competition within the Impact Investing program, which aims to support and develop business projects in the field of social entrepreneurship.
Startups selected according to the results of the competition will receive a place in the acceleration program Founder Institute Ukraine Virtual 2021. Applications for participation in the competition are accepted until July 25, you can submit them here.
Conditions of the competition
In Ukraine, the National Social Startup Competition is being held for the first time, its goal is to popularize social entrepreneurship. Startups will compete in three categories:
- Projects that contribute to the UN Sustainable Development Goals.
- Projects aimed at solving the problems of modern youth and sports.
- Projects of ATO veterans, or aimed at social adaptation of ATO veterans.
To become a participant in the competition, you must submit an application before July 25. The winner in each of the nominations will be determined by the jury (50% of the votes), as well as the audience (50% of the votes) in the final, which will take place on August 5 and will be held online. The final will be 30 projects – 10 in each of the three nominations. Register as a spectator and listen to the finalists’ presentations here.
What will the winners of the competition get
The best project in each of the nominations will receive a place in the acceleration program Founder Institute Ukraine Virtual 2021.
For startups that did not win the competition, participation in the Founder Institute Ukraine Virtual 2021 is paid and costs $ 399. The main task of the program is to prepare projects for financing. In exchange for participation, the accelerator takes a stake in a startup (4%) and does not provide for investments, however, it helps the founders to attract international investors after the completion of the program, the Founder Institute Ukraine notes.
You can apply for participation until August 22 on the accelerator’s website.
About Founder Institute
Founder Institute is a well-known pre-seed accelerator, which is represented in more than 200 cities, headquartered in Silicon Valley. He offers young startups the support of business experts in exchange for a stake in the company. As of 2021, the Founder Institute business accelerator program helped startups attract more than $ 950 million in investments in projects, which together are estimated at more than $ 30 billion. In May 2021, the Founder Institute launched a division in Ukraine.