Business ideas for a better world

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Corporate Responsibility News

14 October 2015

Business ideas for a better world: Munich Re and Impact Hub Munich support social start-ups

Within the framework of a one-year Fellowship programme, Munich Re and Impact Hub Munich want to find solutions to the challenges of the growing global population, together with social start-ups. Munich Re aims the creativity and expertise of their staff to enrich the Fellowship.

Enormous challenges arise from the ever rising world population. Within the Fellowship "Eight Billion Lives", social business ideas are developed that try to find solutions to these issues. The goal of the programme is to find ways to create a better world that is more capable to cope with the future. It focuses on urbanisation, food production and consumption and the opportunities offered by digitisation.

Munich Re innovation topics the focal point

The focal topics of "Eight Billion Lives" were generated in a workshop this summer which Munich Re employees from various central and divisional units took part in. Being the exclusive cooperation partner of Impact Hub Munich, it is crucial to Munich Re that the financial support for the start-ups, i.e. subsistence grants and seed funding, is not in the centre of the Fellowship. Instead, the main focus lies on the active collaboration between the start-ups and Munich Re.

How the collaboration works

The Fellowship fosters knowledge transfer in all directions: As from March 2016, Munich Re staff will work together with the social entrepreneurs, offering them mentoring and expert coaching. The participating Munich Re employees benefit from the intense and interdisciplinary co-creation with the start-ups by gaining insights into a working world that is structured differently than at Munich Re. Impact Hub Munich offers the start-ups not only integration into a creative environment on its premises, but also comprehensive support through regular workshops and coaching.

The cooperation with Impact Hub Munich is a project within the framework of Munich Re's innovation initiative. Impact Hub Munich belongs to Impact Hub Global, a network of entrepreneurs that want to change society for the better by providing social start-ups with a platform for their business ideas.

The Fellowship is now open for application

During the next six weeks, start-ups can apply for the Fellowship. The first step in the process is to convince a jury of their business idea in order to be accepted into the Fellowship "Eight Billion Lives". “We hereby put a stronger focus on cooperations that address global challenges”, explains Astrid Zwick, Head of Corporate Responsibility at Munich Re. “We as Munich Re seek to contribute our company-specific expertise to our corporate responsibility projects more than we have done in the past. By doing so, we create value that reaches beyond pure financial support – both for society and our group.”

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