SOCIAL IMPACT INCENTIVES (SIINC)
How to get rewards for the impact you achieve
How do Social Impact Incentives (SIINC) work?
Entrepreneurs receive financial rewards for achieving social impact
As part of the B-Briddhi Programme, SIINC funding financially rewards high-impact enterprises that raise investment with time-limited premium payments of between USD 50,000 and 250,000 over a 3-year period. Funding is disbursed in phases based on verified social outcomes generated by their operations. In this way, positive impact is incentivised, and the social performance of the enterprises becomes directly linked to their profitability. This, in turn, increases enterprise attractiveness for investors, making it easier to ensure growth capital to scale. You can learn more about SIINC here.
How you can apply
The call for applications is open now!
Impact enterprises that are seeking to raise growth capital are encouraged to submit an application for SIINC. You can also find some additional details in the PDFs below. Applicants are generally advised that they will be required to submit evidence that they raised repayable investment within the last six months or are actively seeking investment. During the application period, there will also be an opportunity to ask questions by emailing info@sie-b.org.
How to know if you are eligible
Here are the typical preconditions for a successful application:
To apply as an impact enterprise, you have to fulfil the following criteria:
- You are legally registered in Bangladesh
- You have been in operation for more than 2 years
- You already have a business model and paying customers
- You raised repayable investment (not grants) above USD 200,000 within the last six months or are seeking to raise it in the coming year
- You have already achieved financial sustainability (breakeven) or have a very clear plan for doing so in the short term;
- You have systems in place that:
- Have generated baseline data on impact-relevant indicators;
- Allow for the timely collection of meaningful data on an ongoing basis related to these indicators;
- Report consistently on these indicators
- You have a business model that explicitly seeks to address social and/or environmental challenges (or must articulate a willingness to shift their business model towards these aims)
- You have a business model that serves customer groups considered to be under-served within Bangladesh
