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
B-Briddhi enters into its Phase II in 2024. Stay tuned for new application opportunities!
Impact enterprises that are seeking to raise growth capital are encouraged to submit an application for SIINC. As the B-Briddhi programme enters into its Phase II, new application opportunities will open up in 2024. You can find some details in this PDF from our previous application calls. Applicants are generally 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 info@sie-b.org. If you are curious about how SIINC applications work, you can check some of our previous application questions. Watch out for updates to come in 2024!
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 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
