Melbourne-based social enterprise accelerator One10 has announced the launch of two new accelerator programs, Activate and Amplify, to increase the number of positive impact startups in Australia.
Scheduled to start in September, Activate will run in both Melbourne and Sydney, while the Amplify program will take place in Melbourne with expansion scheduled for 2017.
Developed through a partnership with InCommon, the Activate program will look to help transform ideas into action by helping early stage, purpose-driven entrepreneurs use startup methods to create a business with strong growth potential and a positive impact.
This accelerator is best suited to entrepreneurs that have an idea for a social enterprise or positive impact startup that can develop solutions to real problems across a range of issues, and are inspired to create a business that has the potential to create meaningful change in both social and environmental areas. It will be delivered for $5,000 per startup.
One10 CEO Veronica Munro said the idea for the program came from looking at pitches One10 had received in the past, seeing that entrepreneurs had found it difficult to cross the gap between an idea and the execution because they lack the knowledge, skills or processes to develop a sustainable, viable and most importantly, impactful business.
“These people are looking for more than just a business plan, they’re looking for support to work though the actionable steps in developing their idea. That’s why we created the One10 Activate program,” Munro said.
The Amplify program, meanwhile, was created to help startups that are more further along develop an appropriate go-to-market strategy, build investment capabilities and raise seed capital. The accelerator has been tailored to suit a range of startups in similar stages of their business life cycle, and is open to startups that have a minimum viable product with aspirations to scale their business.
The program aims to amplify the good aspects of a startup, while simultaneously improving the negative, and bring them to a point where they are ready to launch to the next level. Subsidised by One10, the program will be delivered for $25,000 per startup.
One10 has come a long way since its launch in 2015, recently expanding to Sydney and announcing a number of initiatives and events throughout the country. These two new accelerator programs suggest One10 has no intention of slowing down.
Geoff Gourley, One10’s founder, said the accelerator is on a mission to enable one thousand Australian businesses and startups to grow within the social enterprise sector.
“Social enterprise has been emerging in the Australian landscape for over a decade now, but the past two years have seen a profound growth of social enterprise startups. In a time of worsening social inequality, exclusion, and underrepresentation of cultural minorities, this is unsurprising,” Gourley said.
Deb Cupitt, Engagement and Impact lead at One10, added, “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 approached together to create a thriving positive impact economy in Australia.”
You can learn more about the new programs here.
Image: One10 Team. Source: Supplied.