Enabling enterprise – Deutsche Bank promotes innovative social startups

More and more people in Germany are starting new businesses with a social mission. The Ready for Finance initiative helps them to get off the ground.

Most social entrepreneurs face a range of difficulties when trying to kick-start their business. Many fail during the startup phase – often because they lack the expertise and structural knowledge to access the capital markets. In contrast to the extensive offerings for profit-oriented startups, aspiring social entrepreneurs often struggle to secure the funding they need.

To bridge that gap, Deutsche Bank has teamed up with the non-profit organisation Social Impact gGmbH to develop the Ready for Finance initiative. Since 2013, it has helped social entrepreneurs through systematic advice and one-to-one mentoring from Deutsche Bank volunteers.

Economy Stories – Driving Social Innovation
Economy Stories – Driving Social Innovation

The Ready for Finance initiative – Deutsche Bank volunteers partner with startups

Ready for Finance is an integral part of a comprehensive program developed by Social Impact, intended to help social startups develop their innovative ideas and bring them to market. The aim of Ready for Finance is to promote knowledge transfer and, through the expertise and experience of Deutsche Bank employees, enable social entrepreneurs to access the much-needed venture capital. To do that, they are paired up with one or two Deutsche Bank volunteers who serve as mentors, cater to their specific needs, help them prepare for talks with finance providers and share their expertise for a period of one to six months.

Ready for Finance is currently offered through the Social Impact Labs in Berlin, Hamburg, Leipzig, Frankfurt, Munich and Duisburg. With the Social Impact grant come the Labs, which provide space for co-working, networking and exchange. So far, some 40 startups have already benefitted from the initiative and the aim is to promote a further 30 every year.

 

Ready for Finance

Deutsche Bank experts coach social startups

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“It’s a case of give and take – a win-win for everyone.”

Heiko Emmel Deutsche Bank mentor for the project “MADE IN afghanistan”

“Every meeting brought us forward. Our mentors were enthusiastic sparring partners and helped us a great deal with their experience.”

Fabian Lindenberg Social Impact beneficiary and co-founder of ecotastic

Social startups: profiles

The Bank volunteers and the entrepreneurs are also assisted by Deutsche Bank’s Startups@Berlin team. This expert group advises new companies on banking services and solutions through every stage of their development.

To learn more about the Social Impact grant programme, visit the Social Impact website.

Crowdfunding for social enterprises

The crowdfunding platform Social Impact Finance has set its sight on boosting projects via small amounts of money. This first internet-mediated financing resource for mission-driven startups in the German-speaking countries was launched in cooperation with Deutsche Bank Foundation. So far, around 20 social enterprises have run successful crowdfunding campaigns through Social Impact Finance.

Click here to access the crowdfunding platform at startnext.

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