C3 Social Impact Accelerator 2020 program in Middle East attracts over 600 applications
C3 Social Impact Accelerator Program, powered by HSBC helps startups receive the tools they need to thrive in the global economy, including guidance on raising funds and how to manage their governance practices. The program’s qualifying criteria include startups that are contributing significantly to the UN Sustainable Development Goals, are revenue generating, and are profitable or have a clear profitability path.
This year’s program has already attracted over 600 applicants from eight countries in the Middle East, North Africa and Turkey (MENAT). Twenty-four finalists have been carefully shortlisted following a proven, rigorous selection process by the evaluators from HSBC, Bain & Company, and C3.
Due to the COVID-19 pandemic and the imposed travel bans and restrictions on hosting events, C3 and HSBC have decided to turn the originally planned one-week program in Dubai, into a four-week online format, with board meeting simulations and the final pitch competition scheduled to run in August. Over four weeks, the lectures and interactive online sessions of the program are delivered by international trainers, tackling topics such as Theory of Change, social impact measurement, and pitching to impact investors.
Sabrin Rahman, Regional Head of Corporate Sustainability, HSBC, MENAT, said: “We have given the online structure a lot of thought to ensure that the entrepreneurs get all the benefits they were hoping for from the program, from engaging and insightful training, to networking with impact investors and likeminded entrepreneurs. We learnt a lot from last year’s program and are confident that this second edition of C3 will deliver an even better experience for our entrepreneurs.”
Past winners and startups helped by the program include:
Chefaa, last year’s winner, the Egyptian based e-health startup is now fulfilling triple the number of orders it used to get before the Covid-19 lockdown was imposed.
InnoTech, an Omani based 3D printing EdTech startup, has completely pivoted operations by utilising its 3D printing capabilities to manufacture medical equipment, to ensure the country is well equipped as international supply chains are disrupted.
MyU, a Kuwait based e-learning startup, supported schools and educational institutions to continue teaching online, making the process easier on teachers, students, and parents.