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, the SIINC model rewards high-impact enterprises that raise investment with premium payments of between 50,000 and 250,000 USD over up to 3 years, based on the social outcomes generated by their operations. In this way, positive impact is incentivized and the social performance of the enterprises becomes directly linked to their profitability. This, in turn, increases their attractiveness for investors, making it easier to secure growth capital and scale. You can learn more about SIINC here.
How you can apply
Applications are now closed for the 2021 round of SIINC applications. Check back early next year for information on the next round of the matching funds component of catalytic financing programme!
Impact enterprises that are seeking to raise growth capital are encouraged to submit an application for SIINC. You can find more details in this PDF. Applicants are advised that they will be required to submit evidence that they are actively seeking investment. During the application period, there will also be an opportunity to ask questions by emailing email@example.com. If you want to check the application questions beforehand, please click on the button below. You may find it helpful to download the document then and plan your responses before filling in the application, which must be completed in one sitting. Applications ran between 7 April and 12 May 2021. Please check back early next year at the link posted at the bottom of this page or through our Apply page for the next round of applications.
What is the application timeline?
Updated timeline to come in due time
How to know if you are eligible
Please check the following conditions before you apply:
As an impact enterprise, you fulfill 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 are seeking to raise repayable investment (not grants) between USD 200,000 and USD 1 million
- 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
- Have a business model that explicitly seeks to address social or environmental problems (or must demonstrate a willingness to shift their business model towards these aims)
- Specific attention will be paid to businesses that address vulnerable populations