Financing of social innovation
| Reference number | |
| Coordinator | Mikrofonden Sverige ek för |
| Funding from Vinnova | SEK 1 622 225 |
| Project duration | December 2018 - December 2020 |
| Status | Completed |
| Venture | Social innovation - Challenge-driven innovation |
| Call | Ett stärkt innovationsstöd för social innovation |
Important results from the project
The general purpose of the project has been to develop methods, networks and services within the microfund system, and thus be able to provide even greater and comprehensive financial support to social enterprises. Through the project, 152 social enterprises have received financial coaching and 28 received investments. Mikrofonden has established 25 new collaborations with other organizations and disseminated knowledge about financing social innovations at 39 conferences / webinars. The micro-fund´s fund has become three times larger and increased its geographical spread.
Expected long term effects
The project has resulted in increased awareness of Mikrofonden and social financing. More social innovations and investments have been implemented, which will hopefully also in the long run increase the sector and its generated social impact. The micro-fund has also internally strengthened its competence, knowledge, routines and working methods, in order to be able to offer better support to social entrepreneurs. In contrast to most other venture capital funds, the majority (61%) of our investments have gone to women applicants (who have represented associations / cooperatives).
Approach and implementation
The project has been carried out in close collaboration between Mikrofonden Sverige, Mikrofonden Väst, Hela Sverige skal leva, Ekobanken and Coompanion Uppsala. Initially, Hela Sverige skal leva run the project management, because the Micro Fund´s own capacity was too low. But through the project, Mikrofonden´s sales and staff have increased, which created a basis for moving the project management to Mikrofonden Sverige in the final phase of the project.