MigraFounders pilot helps simplify migrant entrepreneurs’ access to financing in Munich

The MigraFounders pilot, launched to support migrant entrepreneurs in Munich, Germany, has helped simplify the requirements for accessing financial loans. This is the result of MigraFounders’ successful partnership with the local public savings bank Stadtsparkasse München.

MigraFounders was first developed as a pilot within the framework of the INNOVATE project MPG coordinates, and is operated by House of Oyoko, a strategic consulting firm which centres diversity as key to success. Through a needs assessment and a round table convened with the City of Munich, INNOVATE identified the critical gaps in the local entrepreneurship ecosystem that affecting migrant and Black, Indigenous, and People of Colour (BIPOC) founders. These include the fragmentation of services, limited multilingual accessibility and insufficient coordination within the local support ecosystem for migrant entrepreneurship.

MigraFounders positions itself as built for the founders the system wasn’t built for, and focuses on financing, advice and building networks. Its pilot programme, which was open earlier this year free-of-charge to 15 founders, provides financial literacy workshops, one-on-one advisory sessions, bank loan support, grant and funding matching, as well as peer community access. MigraFounders also expects to expand to offer a resource hub and organise community events.

As MigraFounder’s vision is to transform from a pilot to a recognised, sustainable actor. Evelyn Sarpong-Schulz, MBA, who is the Founder of House of Oyoko and the Programme Lead for MigraFounders, said:

MigraFounders is ready to grow, and the interest is already there in Munich and beyond. We invite banks, community organisations, public authorities and funders to invest in making inclusive finance a permanent fixture of Munich’s economy, and to help us open the same door across Germany and the EU.

Check out how you can become a partner.

MigraFounders is a testament of how the impact of good research should be measured in its practical outcomes. Through the INNOVATE project, MPG helped spur the initiative, bringing together relevant parties and translating evidence and stakeholder insights into practical solutions – read our INNOVATE policy briefs, as well as a deep dive we published comparing MigraFounders and another pilot in Italy.