Impact Innovation Hub
APPLICATIONS ARE NOW BEING ACCEPTED FOR THE 2023 - 2024 "IMPACT INNOVATION HUB”
Do you have an innovative business idea that tackles critical social and environmental issues and provides a market-based solution?
Applications are now being accepted for the 2023 - 2024 Impact Innovation Hub Cohort. Drexel undergraduate and/or graduate students may apply now to participate in a September - May program that includes:
- 6 months of guided instruction – the “Impact Entrepreneurship Bootcamp”
- Incubator flex space in the Baiada Institute
- Targeted mentorship
- Seed money to develop their ideas
- Educational trips to visit startups
This program is open to current Drexel undergraduate and graduate students
The application for this cohort is now passed. Stay tuned for new application!
JUDGING CRITERIA COHORT MEMBERS WILL BE SELECTED BASED ON THE FOLLOWING:
Does their idea/innovation tackle one or more of the following 17 Sustainable Development Goals? (These goals were developed with the belief that ending poverty and other deprivations is dependent upon the improvement of health and education, the reduction of inequality, the growth of the economy, the preservation of the environment, and the tackling of climate change.)
Sustainable Development Goals
- No Poverty
- Zero Hunger
- Good Health and Well-Being
- Quality Education
- Gender Equality
- Clean Water and Sanitation
- Affordable and Clean Energy
- Decent work and economic growth
- Industry, Innovation, and Infrastructure
- Reduced Inequalities
- Sustainable Cities and Communities
- Responsible Consumption and Production
- Climate Action
- Life below Water
- Life on Land
- Peace, Justice, and Strong Institutions
- Partnerships for the Goals
Can the applicant commit to attending the 1 - 2 hours per week of instruction through The Impact Entrepreneurs Bootcamp?
Will the applicant benefit significantly from this program?
Does their idea have a market-based solution?
SCHEDULE AND DETAILS
- This program will begin at the start of Fall Term.
- Cohort members will complete a course of guided education - “The Impact Entrepreneurs Bootcamp” – which will consist of 1 to 2 hours per week of educational seminars and hands-on workshops with Entrepreneurs in Residence, Professors, and Guest Speakers. Instruction will include a focus on metrics: cohort members will learn how to establish actionable and measurable metrics that drive successful decision making.
- A committee of industry experts (entrepreneurs and executives working in the sustainability field) will serve as mentors/coaches to the cohort members. Cohort members will have access to all the resources of The Baiada Institute for Entrepreneurship including workspace, community, networking opportunities, and expert advice. Cohort members will be offered continued incubator space in The Baiada Institute for at least one year after the successful completion of their cohort.
- At the end of the Fall Term 2023, cohort members will be asked to present a mid-program update on their learnings, progress and plans for the Winter Term 2024. We will provide continued mentorship and check-in opportunities for cohort members during this time.
- Cohort members will be awarded an award of $3000, divided in equal installments at the start of the program, after meeting their first established benchmark - the completion of a Fall presentation, and after the end of program presentations.
- In the Spring of 2024, Cohort members will present their ventures and tell the story of their evolution and progress at a special event/reception. Presentations will include:
- the results of any market testing
- pivots to their original idea
- wins and setbacks
- their plans for the development of their idea/innovation at the conclusion of the program