Toru Institute for Inclusive Innovation has launched an 8-month long business incubation program with an ambition to help early businesses with social impact to transform their ideas, an early form of product or early stage businesses into a successful business enterprise, aptly named Impactor. The applications for the program are open now. Interested entrepreneurs can apply using Impactor website here. The application closes on 31st October 2018.
After a rigorous selection process, 10 businesses will be selected who will receive a BDT 3 lakh equity-free investment at the beginning and will go through an 8-month long business building program. Out of 10 incubatees, 03 businesses will receive a further 7 lakh equity-free investments. Selected businesses will also receive tailor-made enterprise building supports, mentorship from subject matter experts, free workspace, and access to a network of investors.
Founded by Saif Kamal in 2014, a former media executive of English Daily Dhaka Tribune where he worked as a Head of Marketing & Communications, Toru describes itself as “an institution for learning and innovation for inclusive growth for the 4th industrial revolution”.
Toru has been running a recommendation only accelerator program for growth stage companies for a while now. It counts companies like 10 Minutes School, Sheba, Deligram, Shopup, Solshare in its portfolio. Impactor is going to be Toru’s first open incubation program. The program is supported by Microsoft and Standard Chartered Bank and is organized in association with Annisul Hu Foundation, IPDC, North South University, Daily Star, and Startup Bangladesh.