Social Entrepreneurship Alliance reports positive results
On the occasion of the second Social Entrepreneurship Forum, the Hamburg Alliance for Social Entrepreneurship published its first impact report. The event also provided a number of answers to the question of how social engagement and economic success can be combined.
How social enterprises can obtain funding
The topic of financing social entrepreneurship was a recurring theme throughout the panel discussions, keynotes and workshops at the all-day event. In Hamburg, the IFB development bank provides funding through two programmes, InnoImpact and #UpdateHamburg. Other options mentioned included foundations such as the Körber-Stiftung, which hosted the Social Entrepreneurship Forum. The Reflecta Fördermittelkompass provides an overview of the funding landscape in Germany and also helps with applications using artificial intelligence. Members of the Hamburg Alliance for Social Entrepreneurship receive a discount there.
The alliance has had impact for two years
The alliance has been active for around two years and will be funded by the City of Hamburg until at least 2030. In the first impact report, which has now been published, the six-member team led by Corinna Bremer and Boris Kozlowski gives a positive assessment. The alliance currently has 176 members, known as citizens. It organised 65 events and provided 738 hours of consulting. One result of the alliance's efforts is more than 2.6 million euros in approved funding for 33 companies. In collaboration with the University of Hamburg, a method has been developed that uses a seven-step impact ladder to validate results even more effectively in the future.
Prerequisites for long-term success
It is already obvious that funding for social enterprises will remain limited and that founders in this sector will only be able to survive in the long term if they can combine impact with a viable business model. In order to be eligible for funding at all, startups must address a relevant social problem, develop an innovative solution for it and have a team with complementary skills. Other criteria include a willingness to cooperate and compromise; feasibility takes precedence over perfection. With its Social Entrepreneurship Alliance, which is unique in Germany, Hamburg offers good conditions for success – that was the core message of the Social Entrepreneurship Forum.
