SoPact is a three month accelerator program located in Ideon Innovation Incubator which will give a few selected social ventures the best start possible in their early development. The secondary objective of SoPact is to test the startup accelerator model with social ventures. The aim of this is to determine the feasibility of this method in starting and growing startups that address a social, cultural or environmental need, and can become financially sustainable social ventures.
In the first month, the focus will be on productisation; developing the product, service or concept. During this month the value proposition will be clearly defined. Whether it is already well developed, or is just an idea, during March participants will work together with our team and mentors to develop the solution into a real winner.
During April the focus will shift to developing the business model. In this month the ventures will solidify their strategies for financial sustainability. Perhaps that means testing several models, or perhaps it means complete business model innovation?
During May it’s time to execute the plans and implement the strategies. This means knocking on doors, selling, pitching, promoting, launching, funding, and anything else humanly possible to get the venture to a stage where it can be deemed as having a positive impact, and being a financially sustainable social venture!
Applications close February 24th and the program starts March 1st!
For more information and to apply, go to www.sopact.org
Read about SoPact in the Swedish newspaper Sydsvenskan: www.sydsvenskan.se/ekonomi/ny-accelerator-pa-ideon/