Impact Hub Joins Alliance to Help Social Entrepreneurs Overcome Impacts of COVID-19
- Impact Hub is one of 40 leading organizations to form the alliance, COVID Response Alliance for Social Entrepreneurs.
- The Alliance has already made $75 million USD available.
- The Alliance will launch a searchable database of available emergency relief funds.
- Members are committed to a more equitable, sustainable future.
In line with its key value of collaboration, Impact Hub is honored to be joining 39 global organizations in the launch of the COVID Response Alliance for Social Entrepreneurs. The Alliance will amplify support for social entrepreneurs during the pandemic by bringing together knowledge, experience, and responses to alleviate suffering. It is also committed to the long-term future and advancing new models of change for a more inclusive, equitable, and sustainable world.
With over 100 communities of impact-driven entrepreneurs in more than 55 countries and running more than 200 programs annually, Impact Hub is a key part of entrepreneurial ecosystems the world over. The coworking operator is already invested in helping to build a greener and equal society, supporting social enterprises that are addressing sustainable development goals.
As one of the only coworking operators in the Alliance, Impact Hub is in a unique position to understand and assist business owners in their recovery, as well as having the insight into how the post-COVID-19 world can be an opportunity to build a purpose-driven economy.
The Alliance includes an impressive range of international organizations who are leaders in their industries, including IKEA Foundation, International Labor Organization, Johnson & Johnson, Salesforce, Schwab Foundation, United States African Development Foundation (USADF), and the USAID Center for Innovation and Impact, among many others.
“There is no doubt that COVID-19 poses a huge risk to social enterprises globally,” said Gabriela Gandel, Impact Hub’s Global Executive Director. “By joining this Alliance, we are not only hoping to alleviate the negative impact the pandemic is having on change-makers across the globe, but to co-create a global shift in our approach towards a more just and sustainable economy.”
Organizations in the Alliance have mobilized $75 million USD (68.5 million EUR) in response to the health and economic impacts of the pandemic. Cumulatively, the 40 members support more than 15,000 social entrepreneurs reaching 1,5 billion people in over 190 countries. By addressing the needs and concerns of the most vulnerable in society, these social entrepreneurs are supporting those who are likely to suffer most from the pandemic.
This initiative will include Covidcap.com, a dashboard featuring a searchable database of emergency funds available to entrepreneurs who are struggling during the pandemic. The resource was developed by the Center for the Advancement of Social Entrepreneurship (CASE) at Duke University and contains global capital relief offers worth over $1 trillion.
Impact Hub’s response to the consequences of COVID-19
The Alliance is one of several actions that Impact Hub has taken in response to the pandemic. Already, global support task forces have been launched, initiatives to unlock direct bridge financing have commenced and spaces to facilitate research into a post-COVID-19 world have been opened.
In addition, the coworking operator has bolstered their online presence, moving some programs to the web, adding features to their Community App and developing new online activities to support members, such as LIVE with Impact Hub – an online events series. Diverse types of memberships are also being offered to meet the needs of local market situations, with some communities offering an online-only option.
To learn more about the COVID Response Alliance for Social Entrepreneurs and learn about partnership opportunities, visit the organization’s website.