New accelerator programs help social entrepreneurs create impact

One10 has announced two new accelerator programs that bring together the ‘lean startup’ approach (term coined by entrepreneur Eric Ries) with creating positive impact.

One10 is launching two new accelerator programs in September, Activate and Amplify, to help build capacity in positive impact startups. Up to 12 startups will be invited to participate in Activate, and five startups in Amplify.

One10 said the Activate program has been created to transform ‘ideas into action’. They are teaming up with In Common, a research and design firm, to deliver the program. The program is valued at $20,000, but is subsidised by One10 and will be delivered for $5,000 per startup. It will be run in Melbourne and Sydney.

“At One10, we receive so many pitches from people who get lost between the idea and the execution, lacking the skills or process to create a viable, sustainable and impactful business. These people are looking for more than just a business plan, they’re looking for support to work through the actionable steps in developing their idea. That’s why we’ve created the One10 Activate program,” said Veronica Munro, One10 CEO.

The Amplify program aims to help startups develop their best go-to-market strategy, build investment readiness, and raise seed capital. One10 said the program is tailored for a cohort of startups at a similar stage in their journey. The program is valued at $50,000, but is subsidised by One10 and will be delivered for $25,000 per startup. This year it will be run in Melbourne, and will be offered in Sydney early in 2017.

Deb Cupitt, Engagement and Impact Lead at One10 said, “The UK is the hub for social enterprise, the US is the hub for fast growing and lean startups. We want to bring these business approaches together to create a thriving positive impact economy in Australia.”