For the second year in a row, Impact Hub joined forces with GoDaddy for another edition of New Roots, a business startup and mentoring program for entrepreneurs from underserved communities. Delivered by Impact Hubs in King’s Cross and Munich, this edition supported 49 entrepreneurs in identifying and pursuing medium to long-term professional goals, while demonstrating entrepreneurship as a realistic and suitable option for personal and professional development and job market (re)integration.
The program was piloted in 2019 by Impact Hub King’s Cross in London and it was focused on supporting migrant and refugee entrepreneurs. In 2020 it expanded to Germany through Impact Hub Munich and the target audience for each location changed.
In the 2020 edition Impact Hub King’s Cross addressed entrepreneurs from Black, Asian, and minority ethnicities and Impact Hub Munich provided support to women entrepreneurs — in particular, mothers facing discrimination when re-entering the job market.
“Mothers tend to put their ideas, projects and development on hold to take care of their families in the little time that remains after work. Without the New Roots program, I would have never allowed myself to work so deeply on my project.” — Jeanette de Pauli, food entrepreneur and New Roots participant at Impact Hub Munich.
New Roots 2020 featured 36 highly engaged ventures, 34 coaches from GoDaddy and 23 Impact Hub mentors, who worked together throughout 24 workshops between June 2020 and March 2021. Covering business areas from sustainable living to circular fashion, gastronomy to well-being, the program provided participants with mentorships, business skills, one-to-one clinics with GoDaddy experts, and peer networking.
“New Roots enabled me to successfully develop my company through regular coaching, assistance, and a supportive community, as well as the opportunity to work at Impact Hub.” — Gloria Cuadros, Mundo Sano’s Founder and New Roots participant at Impact Hub Munich.
As the target groups differed by location, the entrepreneurs’ needs and challenges were also different. While lack of funding was one of the top 3 concerns for both groups, access to professional contacts or networks was a more significant obstacle for Impact Hub King’s Cross’ participants. In contrast, the biggest issue for Impact Hub Munich’s entrepreneurs was the lack of knowledge to turn an idea into a feasible business.
Despite the differences, the data collected before and after the program shows that great and tangible results were achieved in both locations. Moreover, it was a success in terms of participation, with all entrepreneurs graduating and actively engaging in the program until the end.
“I came up with the idea for my business just a couple of months before participating in the program, so I was attracted to it because it supported entrepreneurs in an early ideation stage.” — Zey Binboga, Founder of The Displaced and New Roots participant at Impact Hub King’s Cross.
Curious to learn more about the ventures and entrepreneurs, their main needs and challenges, and the outcomes that the program contributed to the most? Then, check the 2020-2021 New Roots report for some insightful data!