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 the end of January. The program will start in March 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!