The one-year incubation program offers selected project teams the platform to advance their solutions and bring them to market. They will benefit from mentoring, workshops on business development and networking events. The solution in the making focus on food waste reduction, biodegradable materials, sustainable watches and more.
From the past editions of the Impact Hub Basel incubation program, 85% of the supported projects have launched their solutions in the market. Building on this success, the third edition which attracted 20 applications, will support five projects that have greater business potential. According to the program organiser, the selected ventures had moved beyond ideation and had some version of an MVP (minimal viable product), and a value proposition that requires further validation. From the Impact Hub Basel's perspective, each venture also tackled a specific UN SDG, whether Responsible Consumption, Quality Education and Good Health or Well Being. “The jury believed the teams can be polished by participating in the Incubator, resulting in impactful and sustainable businesses”, elaborates Heron Mochny, the Incubator manager.
The cohort kicked off the incubation program in February and will graduate in November. Over the next months, the teams will get access to the co-working space while benefiting from one-to-one mentoring and training on various aspects of business development emphasising value proposition, business model refinement, impact measurement, market validation, and organizational development. Additionally, the program covers topics on entrepreneurial well-being and health and gives the teams access to its network.
The following projects will benefit from the incubation program
CAP watch – CAP watch provides mechanical watches with high social and environmental values by engaging the local ecosystem, communicating with transparency and embracing a circular economy.
Education Architects – developed a knowledge management method and offers training and coaching for clients to better structure their notes and knowledge, and have them readily available.
FAHAMU – helps companies tackle sustainability by engaging their own employees. It offers a sustainability crowdsourcing platform for employees to fundraise and finance internal innovation sustainability projects.
KUORI GmbH – is designing flexible, bio-based and biodegradable products following the cradle-to-cradle principles. The startup is currently developing materials for shoe outsoles using organic waste products such as banana peels or nutshells.
UseUp – is building the app UseUp to help reduce food waste by suggesting recipes to the user based on their leftovers in the fridge or supplies. The app is currently in the beta phase.
(RAN)
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