RELEASE – 20 JULY 2018
In August 2014 following international work travel and seeing the emergence of social enterprise throughout USA and various parts of Asia, Peter Ball decided the time was right to create a business that would support start up and early stage social enterprises in Australia.
Applications went live online with many more applications received than anticipated. A diverse range of very nascent social entrepreneurs were then selected to participate as the inaugural cohort of this, at the time, unique program. With a promising group of enterprises signed up Peter decided it would be a great idea to develop the accelerator program.
It just so happened that nine of the ten enterprises selected for the first program were being developed by female founders/cofounders; almost the exact opposite of what accelerators and incubators around the country and internationally were supporting at the time.
Fast forward nearly four years and the Impact Academy is yet again open for applications. This will be the ninth program, aptly named IA-9, and those selected will join the alumni of 81 game changing businesses who have already completed the program. The majority of alumni maintain a close working relationship with Impact Academy with some working from dedicated work space in Spring Hill and many others leveraging the management team’s skills, experience and networks to further their growth.
The 20-week accelerator is also completing its largest change since it was first developed. Having raised capital for many of its enterprises, funding was secured from experienced impact investors to fund the growth of Impact Academy and extend the services provided to new participants as well as their growing alumni.
This investment has prioritised the building of a highly capable team; the creation of new businesses to service the needs of social enterprises and impact investors; and an expansion of the Impact Academy programs to include a Health Accelerator and Eco Accelerator. These new accelerator programs will roll out in parallel to the Social Enterprise program and their inclusion is a direct response to the growing number of applicants from these specific industries.
Impact Academy boasts some impressive recent outcomes with four of the ten enterprises from the most recent program securing seed investment before even completing the program. These four organisations secured a total of $1.2M from investors and the aim is for other ventures in the cohort to secure their investment on the pitch night on 6 September.
For all budding social entrepreneurs that are looking to scale their venture to achieve the social and/or environmental outcomes they are passionate about, applications are open until the evening of Thursday 26 July. Head to www.impactacademy.net.au ---
