Frequently asked questions
What is the Allianz Future Generation Award and how do I win it?
The Allianz Future Generation Award is a grant of EUR 40,000 provided by Allianz. At the Encouraging Future Generations Day in Munich (July 19th, 2018), all participants of the Investment Ready Program will get the chance to pitch in front of a Jury which will subsequently pick one winner receiving the grant. The jury will select the winning team based on the pitches, the program journeys the teams went through and the impact the organisations are generating with respect to social inclusion of children and young people.
Are there any exclusion criteria?
Yes! We have a very strong integrity filter for any organisation or entrepreneur that we support. Examples for reasons for exclusion are discrimination, immorality, criminal or illegal activity, political or religious motivations or activities reinforcing social conflicts; neglection of human rights or a lack of compliance with current environmental and social national legislations and international standards; activities related to the weapon, addictive substances, gabling and pornography.
What if I am not yet meeting the criteria, but have the potential to meet the criteria by the time the program starts?
You can still apply. Make it clear to us what criteria you are not meeting and how you aim to meet it them by the start of the program and we’ll consider your application.
What goods and services are covered if my organisation gets selected?
- Full program tuition for one organisation (up to 2 participating team members)
- All program materials and online tools
- a min. of 3 months Impact Hub membership for up to two participating team members at the hosting Impact Hub in your country (membership can be extended to more team members at additional costs)
- 10-15 hours personalised coaching by an Investment Ready coach
- 4 days Investment Ready Academy in Munich from March 12th – 15th in Munich (Travel or accommodation costs are not covered. Yet, ventures from Indonesia, Greece and Spain can request travel cost reimbursement after successful completion of the program).
- Mentorship by selected Allianz professionals
- Access to Experts from Allianz and the Impact Hub Network working in different areas (on demand)
- Participation at the Encouraging Future Generations Day in Munich (July 19th) where you get the chance to pitch for the Allianz Future Generations Award (EUR 40,000) and one day of pitch preparation workshop one day prior to the event at Impact Hub Munich.
What can I do to improve my chances of being selected?
You submit an awesome application, you can speak with our recruitment and if you’re invited to a Warm-up event, you can of course make a great appearance. We do not believe in only great pitches and plans and we do not believe in perfect entrepreneurs. We appreciate it much more if you’re honest about where you’re at and let us look ‘under the hood’ of your organisation and share openly how you want to grow and in what way you could benefit from the program.
Are travel costs covered?
In total, a travel cost reimbursement budget of EUR 20,000 is available for all participants from Greece, Indonesia and Spain (approx. 12 participants).
After receiving all requests, Impact Hub Munich and Allianz will allocate the budget based on a factor model. You have to independently organise and pay for all travel related costs (incl. two trips to Munich for the Investment Ready Academy (March 12th – 15th 2019) and the Impact Day (Junly 18th – 19th 2019). Participants from Greece, Indonesia and Spain are eligible to apply for an Allianz international travel and accommodation cost reimbursement after successful completion of the program. (You have successfully completed the program if you participated at all events organised as part of the program and if your local Investment Ready Coach confirms your request based on your commitment/performance throughout the program).
Do I have to pay a participation fee?
We do not ask you to pay a participation fee. Instead, you have to independently organise and pay for all travel related costs and accommodation (incl. two trips to Munich for the Academy and the Encouraging Future Generations Day. Participating teams from Greece, Indonesia, Spain can apply for an Allianz international travel and accommodation stipend after successful completion of the program.
Why is there EUR 19,000 mentioned program value? What can I expect for value? What can I expect for results?
The program value is simply a rough estimate of the value generated for our participants. We simply add up the contributed hours in mentoring at market rates, add Impact Hub Memberships, add the workshop days at regular training rates and add an average for the value created through our network for investment deals and media exposure.
- You can expect an amazing program, probably with some of the best purpose driven organisations of four different countries, supporting each other to become even better.
- You can expect experienced mentors and facilitators that are there to support you.
- You can expect a program culture of high integrity, strong work ethic, entrepreneurial creativity and authentic spirit to build beautiful solutions that solve real world problems.
- You can expect to get to work with a group of people that might become long-term business friends and supporters.
- You can expect to plug into a global network that allows you to rapidly explore new markets.
- You can expect to work and meet in one of the most inspiring workspace at the Impact Hub.
- You should expect to work hard, achieve tangible results, make tough choices and have a lot of fun.
What is expected of me if my application is successful? What are the commitments?
You commit to following the full program, including all exercises, preparing your plan and presentation. This means you need to reserve all program dates in your calendar. At least one co-founder or director of the organisation needs to attend the full program (other colleagues can join for the Events).
You commit to providing to your peers and receiving constructive feedback. You will be required to be very transparent with us and your peers regarding your organisation (sharing details on the state of your team, financials, product; specific technical details about your product do not need to be shared though). All participants and core program staff will sign a Non-Disclosure Agreement (NDA) at the start of the program.
You will need to be seeking investment and funding.
Is this program for start-ups or more established ventures?
The program focusses on organisations that are in the so-called “valley of death” or “pioneer gap” phase, beyond the start-up, but not yet fully established. In order to apply, your technology/product/solution should have a basic proof-of-concept and your organisation should generate at least a minimum amount of revenue. If you already run serious revenue (>EUR 1 mio) for the technology/product that you are applying with, you are probably also not eligible.
Does my organisation need to be legally incorporated to apply? Can charities apply?
Your organisation needs to be incorporated/registered as a legal entity, in the Germany, Indonesia, Greece or Spain. Charities and associations are only elegible if they have a business model are generating revenues from entrepreneurial activity and are not fully reliable on donations and grants.
How do I find investors and how do you facilitate deal making?
First, we’d like to make clear that you are always fully responsible to attract the right investors/funders, manage those relationships and close a successful deal. What we do is providing all the necessary support for getting there:
- Financial and legal experts help you build a strong financial model and cover your legal foundations.
- High-level Allianz professionals help you work on any blind spots or missing elements in your business.
- The program is designed to get you step by step to a thorough growth and investment plan and an engaging presentation.
Will you take an equity stake in my venture if I participate?
No, we do not take an equity stake in your venture.
When will I hear if my application has been successful and will I get feedback?
We will select the participating teams after the application deadline. You will be informed in the week latest till December 15th,2018.
What is the Investment Ready Program »Encouraging Future Generations«? What makes it unique?
The Investment Ready Program is a 6-month intensive program for purpose driven organisation with a scalable, (proof-of-concept) solution for the social inclusion of children and young people. It’s unique for it’s:
- impact focus: You will be part of a selected cohort of purpose driven organisations working on the same societal challenge as you (i.e. social inclusion of children and young people), and supported by impact-minded experts and impact investors.
- international set-up: Participants will be coming from four countries (Germany, Indonesia, Spain and Greece,). You will get the chance to meet, work and exchange on several occasions.
- global network: Through our global network we help you to get access to markets around the globe
- customised support: the program is designed for proof of concept stage organisations and offers personalised support.
Where is the subtitle ‘Encouraging Future Generations’ originating from?
»Encouraging Future Generations« is the topical focus of this Investment Ready Program (IRP) initiated by Allianz and Impact Hub Munich. IRP as a start-up acceleration program was developed by Impact Hub Vienna in 2011 and expanded to Impact Hub Amsterdam in 2014. Within the last 6 years, it has helped 77+ purpose driven organisations in Europe to become fit for investment.
The origin of this topical focus is the Corporate Responsibility initiative Encouraging Future Generations by Allianz. As part of their global corporate responsibility strategy Allianz focus on building resilient societies and supports social inclusion of children and young people.
What is your understanding of Social Inclusion?
For this program, we use the definition of the European Commission (2004) as the “process and outcome of ensuring that citizens have the opportunities and resources necessary to participate fully in economic, social and cultural life and to enjoy a standard of living (…)”.
What do you mean with “proof of concept” stage and purpose driven organisations?
With proof-of-concept we mean organisations that are a little beyond start-up phase. This means that the technology, product or solution that you are developing has proven to be (technically) feasible and at least initial market validation (price testing, customer development, trial licensing) has been performed with positive results.
With purpose driven organisation we mean organisations with a scalable product or solution that work with a social entrepreneurial mindset (i.e. entrepreneurial, value based, mission driven, resourceful and well embedded in local realities). Since we believe that your financial model should fit the challenge you are addressing and the context you are working in, application is open for organisations registered under different legal forms (e.g. limited liability company, cooperative, sole proprietorship).
How do I know if I am eligible to apply for the »Investment Ready Program«?
You can apply for the program if you meet the criteria stated on our homepage
How do I apply for the program?
You can only apply by downloading and filling on the application form available on our website and submit it to the email adress stated there till November 23rd, 2018.
When can I apply and what is the deadline?
Applications are open until Nov. 23rd 2018, 11.59 pm CET.