What does an ideal team look like?
An Impact Hub can only be founded by teams of minimum three members. However, don’t worry if you lack the people necessary to fulfill this requirement now. Since all interest requests are saved in our database, there is a high chance we might be able to partner you up with people sharing your interest and enthusiasm for starting an Impact Hub in your city.
Whether you plan to work next to people you know for a long time or you chose partners you’ve just connected with the help of the Impact Hub, make sure to check if you are a good fit for embarking on this journey together.
First of all it’s important that you create a balanced mix of the right skills and capabilities. From experience we can say that bringing together the following archetypes will make a great founding team. One person may fill more than one of these roles:
Whether formal or informal, this role typically belongs to the person that convenes the team in the beginning, holds everyone accountable and has the initial spark. However, it is possible for several people to assume this role in turns or at the same time.
Your community will rely on its group of founders to build, grow and lead it. Culture needs to be set early on as it’s really difficult to change culture months into the life of an organization.
This is someone who has already run a business with an annual turnover of EUR 300.000 or more, knows how to tell a P&L from a cashflow sheet and can soundly steer the financial mechanics of the new Impact Hub.
Impact Hubs are living, learning spaces and someone needs to make sure that yours embodies these traits to the last detail. It’s not just about throwing some tables, coffee and a WiFi router into a derelict building and hope for the best. The space has to support both your vision and business model.
Events and Programming Designer
Your community will be bored and uninspired if its members lack exposure to educational courses and incubator and accelerator programs. You’ll need someone who can manage all of this according to your target audience’s interests.
Last, but far from least, you will need a person who can lead the work on innovating your business model, products and activities, and build relevant partnerships to further elevate your Impact Hub.
Once you feel confident about having combined the right mix of qualities into your team, make sure to also consider personal fit. Founding an Impact Hub requires long-term commitment and you might end up working for the next 5-10 years side-by-side your co-founders. It’s much more likely for you to enjoy what you’re doing next to someone you genuinely respect, like and can relate to.
Take time to get to know each other, find out what each member can bring to the team, secure everyone’s full commitment and set great, but realistic expectations. These are all key steps to ensuring an effective and enjoyable cooperation. To make everything more tangible, you may also set up an internal agreement where you agree up front on the time each founder devotes to the initiative, financial commitments, roles and accountabilities, etc. Although there is no formal requirement in this sense, we highly encourage you to use this or any other tool you prefer to get a clear overview on each founder’s inputs and responsibilities.
What if I don't have a team yet?
You will have an opportunity to find other team members during the application process and via the SBM Hackathon. We will also connect you with others in our reach.
What are the benefits of being a member?
Part innovation lab, part business incubator, and part community workspace, we offer our members a unique ecosystem of resources, inspiration, and collaboration opportunities to grow impact. Joining our diverse community of members and collaborators will inspire, connect, and enable you to develop your best work every step of the way.
Is Impact Hub a franchise?
No. Each local Impact Hub is owned and run by its founding team and each local founding team co-owns and co-creates the global network. Therefore, a collective of all Impact Hubs, the “Impact Hub Association”, owns the Impact Hub IP and Brand. Impact Hub Global is currently run by a dispersed global team.
What is an Impact Hub?
An Impact Hub consists of three distinct elements. First, it is a vibrant community of passionate and entrepreneurial people who share an underlying intention to bring about positive change and act as peers to cross-fertilize and develop their ventures. Second, It is a source of inspiration that provides meaningful content through thought-provoking events, innovation labs, learning spaces, incubation, programs and facilitated conversations that support positive impact. Third, an Impact Hub is a physical space that offers a flexible and highly functional infrastructure to work, meet, learn and connect. The magic happens where these three elements connect and are brought to life through the art of hosting.
Are there fees associated with opening an Impact Hub?
Yes. Part of what is different about Impact Hub is that we are focused on developing sustainable business models to support the development, health, well-being and impact of the sector. Although there is a fee associated with joining the network, we are confident that the combination of your entrepreneurial abilities and the direct support you receive through this program, that you will be able to raise the capital needed to found your Impact Hub. Impact Hubs in many low resource developing countries have been able to successfully raise funding. Impact Hubs in Latin America and Eastern Europe shared their experiences with the network and we are happy to support you in your journey towards becoming financially sustainable.
The Application Fee has now been reduced from 2000 Euro to 750 Euro per team. This fee is due when handing in the full application to the network.
The Joining Fees are based on net revenue projected in the 3rd year. The fees are split into three payments:
1) 1/3 of the fee is due when submitting the feasibility study for Initiative status
2) 1/3 of the fee is due at opening, latest after the 18 months initiative period
3) 1/3 of the fee is due 90 days after opening
If your team’s projection is less than 100,000 Euro, then your joining fees will be 6,000 Euro. If your team’s projection is between 100,000 and 400,000 Euro, then your joining fees will be 18,000 Euro. If your team’s projection is more than 400,000 Euro, then your joining fees will be 24,000 Euro.