How to Successfully Apply to Bridges for Enterprise

Demystifying the application process to the BfE Incubation Programme

The Head and the Heart

Founded by students at the University of Cambridge in 2015, Bridges for Enterprise (BfE) began as a small club with big dreams: to make a difference in the world by empowering social enterprises. A social enterprise uses the principles of entrepreneurship to find sustainable solutions to social problems; some might say they have the head of a business and the heart of a charity. Through their flagship Incubation Programme, BfE provides pro bono advisory services to social innovators in developing countries. These services support them on the path to financial sustainability and impact creation in their communities. Seven years and global expansion to five student-run chapters later, BfE continues to make a difference in the social enterprise sector.

The multi-stage Incubation Programme accepts applications on a rolling basis for admittance to one of two annual cohorts, composed of nine startups each. Most recently, Spring 2022’s applicants set a BfE record with nearly 200 entrants from 32 countries. Submitting a successful application is critical in standing out of the pool of equally worthy applicants. Continue reading to demystify the application process for the BfE Incubation Programme.

Am I Eligible?

To be considered for the Incubation Programme, an ideal candidate would have an existing product or service and have started earning revenue. Additionally, the startup falls under the following categories:

• Financial Structure — for-profit or non-profit social enterprise
• Funding Stage — Pre-seed or Seed stage
• Geographical Location — legally established in Africa, Asia, Latin America, or the Middle East
• Function — ability to create positive impact and reach long-term financial sustainability

Structure and Funding

BfE supports Pre-seed or Seed stage startups, including for-profit or non-profit organisations that have begun operations, have an existing revenue stream, and are looking to secure product-market fit. Understanding what stage your startup is in is critical to its success. As Forbes’ Justin Ferrabee asserts,

“An understanding of each of the growth phases accompanied by an accurate recognition of what phase your company is working its way through is imperative to your leadership, because the phases dictate where you should be focusing your attention, as well as what challenges you should be anticipating.”

Figures: Financial Structure and Funding Stage definitions

The financial structure and funding stage of your business is important to BfE because it is an indicator of your business’s ability to run smoothly and efficiently. With regards to funding, these two stages are compelling in determining the strength of your business idea — is there a need that your business is satisfying in the market?

Geographical Location

BfE seeks to empower startups in emerging markets through access to business mentorship and startup networks. For this reason, applicants must be legally established in Africa, Asia, Latin America, or the Middle East (check out where our Spring 2022 cohort members are located.)

“Social entrepreneurship creates social value to address social problems. The findings suggest that whilst the social mission is central to all these organisations, they also create social value through innovation and pro-activeness.” — Nthati Rametse, Investigating Social Entrepreneurship in Developing Countries

BfE believes that investing in social entrepreneurship in developing countries will create the innovation and proactiveness that stimulates social change.

Function

Your application should demonstrate an ability to have positive social impact and reach long-term financial sustainability. BfE ties its impact framework to the UN Sustainable Development Goals (SDGs) to ensure that we are following our mission and generating the impact we set out to achieve. To better understand the SDGs and ensure your startup is aligned with both the UN SDGs and BfE’s acceptance criteria, please click here.

Figure: UN’s Sustainable Development Goals

The ability to reach long-term financial sustainability is achieved by demonstrating a clear path to financial returns. Strategies for financial sustainability include forecasting costs, taxes, etc. Ensuring your startup is financially sustainable offers reassurance to investors, as well as BfE.

Other Sections

Questions that may need additional clarification:

• Defining your legal structure
• Key capital investments
• Measuring social impact

Legal Structure

The business structure you choose impacts your day-to-day operations including taxes, your ability to raise money, the types of paperwork to fill out, and how much risk each person involved is responsible for. It is imperative you’ve chosen a legal structure that gives you the right balance of legal protection and benefits.

Investment Types

Among the choices listed on the application, determining which one best suits your needs may need clarification. For a more thorough understanding of the funding landscape, keep an eye out for our future article exploring this topic!

Measuring Social Impact

Measuring your startup’s social impact is important for the organisation, your investors, and your consumers. Without the proper data, your social impact becomes unsupported. For the sake of transparency and longevity, it is important to measure your progress and overall impact to those who rely on your product or service. With that, you need to collect data and feedback as proof of impact. Which one is appropriate for your business?

Figure: Instruments to measure social impact

Best Practices

After submitting your completed application, you might be wondering how your application fairs to the competition. BfE considers all applications to the BfE Incubation Programme carefully and holistically over several stages to determine the startups that best fit our mission and vision. We apply the following criteria as we read applications and conduct interviews:

Figure: Incubation Programme Evaluation Criteria

Extra Credit — Build a Pitch Deck

While this is not a mandatory requirement to complete the application, preparing a pitch deck may benefit your submission if given the opportunity to move forward in the application process.

Below, you will find templates and examples of successful pitch decks to learn from and model yours after.

The Social Entrepreneur’s Guide to Creating a Winning Pitch Deck

35 Best Pitch Decks From Real-Life Startups

Ready, Set, Go!

Once you’ve determined your eligibility, you are ready to fill out the application form. Do keep in mind the deadlines for each cohort to ensure you’re on track.

Figure: Application Deadline Chart

Follow this article and feel confident that your application was submitted successfully.

About Bridges for Enterprise:

Bridges for Enterprise (BfE) is a global volunteer-led non-profit that provides pro bono advisory services to social entrepreneurs in the developing world. Through our flagship multi-stage Incubation Programme, we provide support over a 6–8 month timeframe to early-stage businesses with existing revenue streams and a clear mission to create impact. Founded in 2015, we have expanded to operate from five student-led chapters and developed a client base spanning over 30 countries and 100 social enterprises. We collaborate alongside a growing network of over 300 professionals who provide strategic guidance as mentors to chapter teams and startups in our portfolio.

For more information, please contact outreach@bridgesforenterprise.com

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