FAQ - Grow AI | Social Tides

FAQ

Grow AI

Accelerator

What is a social enterprise?

At INCO, we believe that a person working towards solving today’s biggest challenges with drive, dedication, and discipline can be considered a successful entrepreneur. A social entrepreneur is an impact-driven individual providing solutions connected to the goals set forth by the Sustainable Development Goals. These individuals are willing to take on the risk and effort to create positive changes in their communities by starting a business and achieving sustainable social, economic and environmental developments.

In some European countries, there is a legal framework on social enterprises. In the instances where no such legal framework exists, or if your organization is not recognized as a social enterprise, the selected participants will be asked to sign a pledge that they would reinvest at least 50% of their profits to their project.

Who is the Grow AI program for?

The Grow AI is designed for social enterprises/ impact organizations that leverage Artificial Intelligence and Machine Learning to pursue a positive impact across the SDGs sectors. We are looking for established organizations with an existing MVP demonstrating traction.

What is the geographical scope of the program?
Applicants need to have a registered company in one the 9 focus countries of the program: Sweden, Italy, UK, Spain, Ukraine, Poland, Czechia, Romania and Lithuania

Is the program participation and grant limited to sectors aligned to Sustainable Development Goals (SDGs)?
Yes. You can find more information about SDGs here.

What types of business entities do you accept in the program?

We accept all registered business entities that can be identified as social enterprises in the focus countries of the programs (excl. nonprofits), as long as they comply with all the requirements

What is the selection process?
Interested social enterprises/ impact organisations can submit their application until the 31st of January. The applications will be reviewed and the ones best satisfying the criteria will be invited for an interview. Then, the shortlist will be consolidated thanks to a panel of experts from INCO and the finalists will be selected. Results will be announced by mid-March. The program will start in April 2024.

Do you take equity?
No, the Grow AI program is completely free.

If my project is not selected in the first cohort, can I apply for the second one?
Yes, you can apply for the next cohort in 2024. We are looking forward to receiving your application!

Do all participants in the program receive a grant?
Yes, all selected participants will receive a grant, provided that they will actively participate in the required program activities.

What are the conditions to get the grant?
To get the grant, the minimum requirement for each participant is to successfully finish the program. We expect you to fully and actively participate in at least 80% of the curriculum time to the program, complete the assigned tasks to reach your social enterprise's milestones and to participate in the live sessions, but of course we do understand that sometimes there are unexpected events that may prevent you from joining a class.

How will the exact amount of the grant be decided?
A panel of INCO and Google experts will decide the exact amount of the grant depending on the nature of the project, that will be evaluated according to the selection criteria and the grant request breakdown that will be provided at the submission of the application, reaching up to $250.000. Once the finalists are selected, the allocated grant will be communicated to each participant and a contract will be signed.

Why did I receive a smaller grant than the one I have asked for?
When awarding grants, we take into consideration the following criteria 1) innovation and impact of the solution , 2) ethical use of AI/ML technology 3) relevance to a societal problem related to the Sustainable Development Goals (SDGs), 4) skills and talent of the team, their educational/professional/project background and motivation, 5) MVP testing and actions taken towards development 6) business model sustainability and scalability
Read more about the selection criteria here.

Do you have a list of expenses that we can spend the grant on?
While there is no predefined list of expenses that the grant must be exclusively used for, all expenses must be in line with the project objectives and impact purpose. The grant should only be allocated towards the project needs outlined in the budget projection that you will submit at the end of the program, confirming or adapting the provisional budget you submitted in the application form. Subsequent changes will be admitted provided they are notified and approved by the Social Tides team. You will receive further information on do’s and don’ts and all necessary support during the program. All expenses need to adhere to all legal requirements as well as to cost-effective spending principles. No sumptuary expenses will be accepted.

When will I receive the grant?
The grant will be transferred in two installments: 30 % of the grant will be transferred within 1 month by the end of the 3rd module of the program. The remaining 70% within 1 month after the end of the program (provided that all requirements are met and the provisionary budget is accepted by the Social Tides Team) .

How long do I have to use the Grant?
You will have up to a year to spend the grant.

If I am accepted to the program, will we sign a contract?
Yes, a signed contract will be mandatory in order to secure the grant payment at the end of the program.

When will the program run?

The first cohort of the program will run from April to October 2024. A second cohort will be launched afterwards.

How is the program structured?

Grow AI features a blended learning experience, with a mix of 1-to-1 and 1-to-many learning sessions, where selected participants will receive tailored support and mentoring from experienced business and tech experts.

Can our team participate in the different training meetings with different staff persons selected according to the topic of the training? Or should there be one representative per start-up?

We do require at least a founder to participate in all sessions of the program, and we strongly recommend having all other appropriate or interested team members joining the sessions relevant to their area of operations.

Will I be able to participate in the program if I work full time?

It depends on the nature of your work and commitments. Program activities will take place during working hours.

What happens if I cannot finish the program?

Every case is unique and will be assessed individually but you will not be eligible for the grant.

What is the course language?

The course is in English.

What are the technical requirements to participate in the program?

The course is online so you need to have a computer with an Internet connection. You need to have a camera and headphones in order to participate in video conferences.

Still have questions? If you have more questions, please send an email to socialtides@inco-group.co

Still have questions?

If you have more questions, please send an email to socialtides@inco-group.co