Ministry of Economics and Innovation: New “InnoImpact” funding program helps social enterprises

Hamburg is the first federal state to launch a funding program specifically for social enterprises, thereby setting an example for social change and strengthening the Hamburg metropolitan region as a location for innovation. The aim of the Hanseatic city is to promote social innovation through the joint implementation of the Hamburg Strategy for Social Entrepreneurship. The new “InnoImpact” program of the Ministry of Economics and Innovation (BWI) is now accepting applications.   In April 2023, the Free and Hanseatic City of Hamburg and six other partners from business, science and foundations joined forces to form the “Hamburg Alliance for Social Entrepreneurship e. V.”. The aim of the association is to promote social innovation through the joint implementation of the Hamburg Strategy for Social Entrepreneurship. More than 350 people from the social entrepreneurship community were involved in the participatory strategy process alongside representatives from various Hamburg authorities, academia, charities and civil society. The final strategy was adopted by the Senate in January 2023.

A strong Hamburg ecosystem for social entrepreneurship

The shared vision of “Social Enterprises – driving a city worth living in for everyone” forms the core of the strategy. The aim is to create a strong ecosystem for social entrepreneurship in Hamburg that can act as inspiration and a good role model for business, administration and civil society. The social entrepreneurial impulse for sustainable action and economic activity should thus become a wave that sweeps the entire urban society along and brings it into exchange.

“InnoImpact” opens up new financing channels for social enterprises

The “InnoImpact” funding program is an important measure of the Hamburg Social Entrepreneurship Strategy. Opening up new financing channels for prospective and existing social enterprises is one of four fields of action. InnoImpact” thus complements the existing start-up funding programs of Hamburgische Investitions- und Förderbank (IFB Hamburg) and its subsidiary IFB Innovationsstarter GmbH.

Next call for funding from “#UpdateHamburg” at the beginning of 2024

With the planned continuation of the successful “#UpdateHamburg” format, BWI and IFB Hamburg will also offer a regular funding instrument for the development of innovative solutions by established social enterprises and other socially innovative players. The content design and implementation will be carried out in close coordination with the newly founded Hamburg Alliance for Social Entrepreneurship. The next call for funding as part of #UpdateHamburg is planned for early 2024.

Register now for “InnoImpact”

Applications for “InnoImpact” can now be submitted here to IFB Innovationsstarter GmbH by individuals or teams of up to three people who are concentrating entirely on founding their company during the funding period. In addition to natural persons, legal entities of all legal forms (e.g. e. V., gGmbH, e. G.) can also apply. To finance the costs associated with the start-up project and living expenses, the founders receive a personal lump sum of up to EUR 2,500 per month.   Further links: Information on the “InnoImpact” funding program: https://innovationsstarter.com/innoimpact. Social Entrepreneurship Strategy of the Free and Hanseatic City of Hamburg: https://www.hamburg.de/bwi/innovation-technologie-cluster/social-entrepreneurship-strategie/.