Social Enterprise Incubator & Accelerator Programme
The Social Enterprise Incubator & Accelerator run by LSV facilitated learning and organisation development by acting as a focal point to enable social enterprises (SEs) to meet and partner with other businesses, peers, investors, and support agencies. Three programmes were implemented as part of the Social Enterprise Incubator and Accelerator Programme: agro based and environmental enterprises, women led social enterprises and high impact incubator and accelerator programme.
Selection criteria include:
- Being in operations for less than three years,
- Having well defined environmental and social benefits,
- Extraordinary leadership, vision and entrepreneurial drive
Special consideration was given to businesses that engaged women and youth groups.
Key features of this programme:
- Continuous business advice, mentoring and training provided on a one to one basis at on and off site over a period of ten to twelve months.
- Structured comprehensive non-financial assistance as general and bespoke business support and other resources delivered by a group of professional business advisers and mentors.
- A dedicated business advisor for each entrepreneur.
- Access to services of mentors for different skill requirements (e.g. finance & accounting, marketing, technical, human resource, legal etc.).
- The incubatees operate from their own locations, except during residential training sessions and exposure visits.
Women led social enterprises and high impact incubator and accelerator programme.
Subsequent to the awareness programmes on social enterprises 21 women led social enterprises were enrolled across the island, from which 08 were selected for future expansion.
The entrepreneurs joined upon successful screening were provided exposure to training and services that included business health checks, needs assessment of the business, SWOT analyses and developing of action plans. Depending on the requirements identified from the needs assessments, 243 hours of business coaching was provided by linking experts in the industry to improve their businesses.
Social Enterprise Incubator and Accelerator for agri and environmental businesses
Eighteen participants enrolled for this programme. Out of this group 06 were selected to provide services for future expansion. Over four hundred hours of business coaching support was provided by experts who are part of LSVs external resource pool.
High impact incubator and accelerator programme
This programme was designed for medium and large scale enterprises that involve many stakeholders and require specific support services. This programme supported three large enterprises: Nuwera Eliya Flower grower association, CARE-CDF members and Ayurveda Osu with 170 Hours of business coaching and mentoring provided.