What happens in the program?
We give you advice and mentoring, an entrepreneurial education and targeted assistance such as introductions to potential alliance partners and customers. If we see special potential during GRIST, we help you to secure investment needs to accelerate your venture during REFINE.
What are the evaluation criteria for selection?
We are interested in social ventures that intend to grow quickly through the acquisition of new customers in new or existing markets rather than an increase in donations or Government funding. See the information on the three Mill House streams for 2018.
What will the mentors do to help me?
We will meet with you regularly to review progress, set challenges and provide advice to ensure you’re on the right track.
The Mill House facilitators, mentors, and investors are people who know how to help entrepreneurs succeed and many of these are already successful entrepreneurs. They understand what you’re going through in starting an innovative new business. They are each committed to social entrepreneurship and are willing to draw on personal and professional networks to benefit your ventures.
What should I do to prepare for The Mill House?
Work on your social enterprise!
What time commitment is required?
We expect REFINE participants to work full time for at least three months and the ability to extend this if you’re heading to success.
What resources do I need to contribute?
Your time, ideas and passion for social impact.
Who will own the equity in my business?
The Mill House venture accelerator REFINE is powered by the GRIFFIN Trust, which consists of local social impact investors and program mentors.
Where does the money come from?
The Mill House accelerator is funded by a range of social impact investors, venture philanthropists, and sophisticated investors from Canberra and the surrounding region. Many of these individuals are program mentors that you will be able to work with on a weekly (if not daily) basis.
What will happen at the end of the accelerator program?
The Mill House will host a showcase event designed to expose your venture to a range of social impact investors in our region.
What is the difference between REFINE and GRIST?
REFINE is for existing social enterprises or for a new concept with some evidence of market traction. These entrepreneurs have an idea for a business model (how they will make money) AND an impact model (how they will create social, cultural, or environmental impact) that they are ready to work on during the Accelerator Program.
Those ventures who are offered a place to REFINE are eligible to receive investment to assist them during their time in the accelerator. In return for our investment, we expect the founder (or team) to be working full-time on growing the business and impact model.
GRIST is targeted to less mature ventures as well as those who still need a bit more work on their business or impact model to benefit from a process as intensive as REFINE. They are not expected to work full-time on their venture during the accelerator program.
What is the time commitment for GRIST?
You are encouraged to work as intensively as you can on your venture during the program.
On acceptance to the Accelerator, each GRIST participant will be invited to establish individual goals or targets for the three months. Our team will encourage and support you to meet these aims.
How much does it cost?
This is no program cost for GRIST in 2018 thanks to the generous support of our financial sponsors.