Frequently Asked Questions (FAQ)
Where is Impact Accelerator based?
Impact Accelerator 2015 is based in Manila.
Am I eligible to apply for the Impact Accelerator if I am not based in the Philippines?
No. Your enterprise must be based in the Philippines.
When can I apply and what is the timeline?
|Applications Open||1 Oct 2014|
|Applications Close||7 Nov 2014|
|SEs notified of who made the initial shortlist||14 Nov 2014|
|Skype Interviews with initial shortlisted SEs||19 Nov 2014|
|SEs notified of who made the second-round shortlist||24 Nov 2014|
|Skype Interview with second- round shortlisted SEs||26 Nov – 8 Dec 2014|
|On-site due diligence visit||26 Nov – 8 Dec 2014|
|Announcement of final 4 SEs by email||By 31 Dec 2014|
The above timelines are subject to change. Any changes will be posted on the Impact Accelerator website.
When will I hear if my application has been successful and will I get feedback?
Successful applicants will be notified by email about the status of their application by 31st December 2014. We are not able to give personalized feedback due to the expected high volume of applications.
Do I automatically get USD 20,000 if I am selected as part of the final cohort?
Yes. Participants in program will receive a seed investment of USD 20,000 and acceleration services worth USD 30,000 in exchange for a minor stake of equity. This is subject to terms and conditions
What kind of support do you offer?
Impact Accelerator offers a customized acceleration plan, including one-to-one mentorship, training workshops, ongoing advisory services and access to the Accelerator’s robust investor network.
Does my Social Enterprise (SE) need to be legally incorporated in a particular way in order to apply? For example can charities apply?
The SE must be legally incorporated in the Philippines and capable of accepting equity investment. Some structures may be more limiting in the types of investment capital they are able to take on.
Is this program for start-ups or more established Social Enterprises (SEs)?
Impact Accelerator is open to early-stage SEs – enterprises that have pilot tested (or are pilot testing) their business model and establishing proof of concept. These enterprises have typically been in existence from 6 months to three years and are looking to scale.
What is expected of me if my application is successful?
There are two expectations: that you are committed to participate fully in the program and that you allow Impact Accelerator investors to receive a minor equity stake in your company in exchange for the USD 20,000 seed investment and USD 30,000 worth of acceleration services.
If selected, during the course of the program, how much time will I be actively engaged with the Accelerator’s mentors and other staff.
Over 6 months, you will receive around 10 – 14 hours each month of one-to-one mentoring; two 3-day training workshops which includes a pitch day; and ongoing advisory services.
Will I need to move to Manila for the duration of the program?
No, the program is designed to avoid disruption to your business. Mentorship will take place in your usual place of business or through Skype / phone. You will only need to travel to Manila for two training workshops during the 6-month acceleration period.
Will I need to travel to Manila for workshops and meeting with the support network? Will Impact Accelerator pay for my travel?
Yes, you are required to travel to Manila for the two training workshops. Travel, accommodation and meals will be covered by Impact Accelerator.
Will my application be treated confidentially?
Yes, your application will be treated confidentially and will only be shared within Impact Accelerator’s immediate network (i.e. staff, mentors and investors).
If my application is not successful, will the Impact Accelerator still help me with my business?
Beyond pointing you to relevant resources, we unfortunately cannot prioritize reading business plans, helping you find funders, or giving you in-depth advice as we will be dedicating our time to working intensely with the handful of entrepreneurs we have chosen. But we encourage you to apply, and if you land a spot, we will do everything we can to help you!
My English is not very good. Can I still apply?
Yes. However your application must be in English and all workshops will be run in English, so you need to have a strong command of the English language. Specifically, you need to be able to read, write, and speak English sufficiently to communicate with the English-speaking mentors and staff.
Who’s behind the program and why are you doing this?
Impact Accelerator is run by IIX, an organization dedicated to helping SEs raise investment capital in order to grow and scale their impact. IIX connects SEs with Investors and provides technical assistance to SEs in order to get them ready to receive investment.
Who will be at the Pitch Day? How much will they invest in my enterprise?
IIX maintains the largest network of impact investors interested in investing in SEs in Asia. The Impact Accelerator pitch day will be attended by a number of impact investors from this network interested in investing in SEs active in the Philippines. The pitch day should be thought of as a first step in a capital raising process, and there is no guarantee that you will receive an investment as a direct result of the pitch day.
Who can I contact if I have more questions?
Please feel free to contact the Impact Accelerator team at firstname.lastname@example.org