Hamburg sets up alliance for social entrepreneurship

29 February 2024

Alliance of stakeholders and EUR 1 million to back social businesses in Hamburg

A new alliance is being set up to raise the visibility of social businesses in Hamburg in accordance with the senate's social entrepreneurship strategy which was adopted in 2023. A budget of EUR 1 million is available for social projects as part of the funding scheme run by the Ministry of Economics and Innovation and the Hamburg Investment and Development Bank (IFB).

New alliance to promote social entrepreneurship in Hamburg

"Social entrepreneurship addresses an existing problem based on a business idea. That is challenging because the goal has to be established and implemented in economic terms," said Dr Melanie Leonhard, Senator for Economics. But by joining forces, Hamburg could become a flagship of entrepreneurial and social problem-solving. The new alliance aims to create a network of stakeholders in business, local government, science and civil society who pool expertise and resources. The betahaus in the Schanze district is to become a new point of contact for social entrepreneurs where they can obtain information and network on at a low threshold.

Call for funding #UpdateHamburg entering next round

Funding strategies and competitions are other key aspects of Hamburg's social entrepreneurship strategy. The #UpdateHamburg scheme issues regular calls for funding. Public welfare stakeholders such as social enterprises and civil society organisations in the Hamburg Metropolitan Region can apply for funding until the deadline of April 30, 2024. Projects with innovative solutions for social problems can be submitted to IFB Hamburg and strengthen the city as a social and sustainable business location. "Now, we are now tackling that objective vigorously to create tangible added value for urban society," Leonhard pointed out.

fw/mm/pb