APPLICATION DEADLINE: JANUARY 31st, 2022
How the program works
The MMH Business Accelerator, currently in its fourth year, is a structured business growth program that consists of 2 phases.
Phase 1 – called the “Pilot Phase” runs for 12 months and involves co-creation and pilot implementation of a high-impact strategic project or initiative to drive growth, impact, and sustainability of participating businesses. The Pilot Phase comes with financial support of Euro 50,000.
Phase 2 – called the “Scale-up Phase” also runs for 12 months and follows the successful implementation of the pilot phase. Businesses that advance to the scale-up phase receive additional financial support of between Euro 100K-200K. Co-creation involving hand-in-hand collaboration between the social entrepreneurs and Boehringer Ingelheim employees who volunteer to contribute their time and expertise to the pilot and scale-up projects is a key component of both phases of the program.
Benefits of the program
1. Knowledge Access:
The program offers participants multiple opportunities for professional growth and development in their entrepreneurial journey. Includes in-person and online workshops and seminars on topics about operations, systems change, replication & transfer, social finance, among others.
2. Technical expertise:
Participants have access to experienced employees at Boehringer Ingelheim who volunteer their time to provide hands-on technical support across a variety of professional disciplines. Engagement with BI employees may take place virtually or in person through an Executive in Residence program that has experienced executives placed within the social entrepreneurs’ organizations for between 2-4 weeks to work on specific aspects of the projects. Additionally, the program engages a number of consultants to offer tailored expert support to participants in areas such as investor engagement, communications, and pitching.
3. Strategic networks:
Accelerator participants become part of an ever-growing and closely-knit community of ecosystem actors including impact investors, foundations, philanthropists, government agencies, corporate executives, social entrepreneurs, experts, and multinational healthcare companies all committed to improving health care access for humans and animals across Africa. Successful applicants will also be able to tap into the newly launched Making More Health access network that will potentially leverage the expert engagement and support between the social entrepreneurs and the Boehringer Ingelheim employees.
4. Financial and Investor access support
The program provides each participant with a grant of Euros 50k for pilot implementation, with the possibility of additional scale-up funds at the end of a successful pilot. Participants also receive expert-led investment readiness coaching and support before and after the program to facilitate access to third-party investors. In addition, the program gives program participants a platform to showcase their innovations and engage a growing community of impact investors at MMH’s annual investor showcase event as well as other external investor access events. Additionally, entrants into the business accelerator community will have opportunities to apply for extra funding via the just-launched Boehringer Ingelheim Social Engagement Fund.
5. Business Collaboration
Where there is a timely and strategic fit between Boehringer Ingelheim and an accelerator participant, there is the potential for a strategic business collaboration to be formed with the promise of significant long-term benefits for both organizations.