According to a research report by Finding Australia’s Social Enterprise Sector, 73 percent of Australian social enterprises are small businesses and 34 percent have been in operation for two to five years.
Based in Melbourne, Crunch works with both new and existing social enterprises to test and build a robust business plan and model. The accelerator is seeking to work with eight social enterprise startups, who will enter the program in the first half of 2017.
Since 2009, Social Traders has provided support to 88 social enterprises, 12 of which have received a combined $1.6 million in funding and have gone on to leverage a further $3 million from impact investment and philanthropy.
Along with Crunch, Social Traders is also calling for startups to apply for its Social Investment Portfolio. The Portfolio provides access to patient capital and business support to high potential not-for-profit social enterprises.
This year the Portfolio aims to invest $900,000 of patient capital to up to four social enterprises, these selected startups will also receive business coaching, valued at $20,000 each year.
Throughout this year, Social Traders has been working with the government to deliver a total of 16 Social Enterprise Ideation events across both metropolitan and regional Victoria in Melbourne, Ballarat and Wodonga. The aim of these events is to strengthen the pipeline of accelerator-ready social enterprises around the country.
“Engaging regional and metropolitan Victoria through social enterprise provides a positive opportunity to encourage local entrepreneurship to solve some of the most-hard pressed existing social problems with new solutions,” said Brookes.