In 2021, the student project Nekrachni, representing Gen Z in financial education, applied to the international incubation program Social Impact Award. At the end of the incubation, they established a registered institute, took home the Česká spořitelna award, and in 2023 received a grant from Google.org in the amount of 15 million crowns and the support of a team of Google employees who will help them full-time for free for six months.
What was the journey of the Nekrachni project like and how do you evaluate your participation?
Maria Šimůnková and Jakub Rychlý found out about the Social Impact Award somewhat by accident. However, they did not hesitate to apply. They knew from the beginning that they wanted to build a socially responsible project and our program was the only one that focused on socially beneficial entrepreneurship. As they themselves say:
“We decided to give it a try because we were looking for a path for our project and the Social Impact Award was one of the few accelerators that focused on them. We were a little frustrated with previous accelerator programs that were built purely for commercial projects.”
The program got underway and Maria and Jakub progressed through its phases. During their participation, they decided that Nekrachni would be a purely non-profit project and expanded their team from 3 people to 10 volunteers. They clearly defined their roles and competencies that they would have in Nekrachni.
What do they say about the difficult moments they faced during the program?
"Of course during the fall after acceleration they came moments when it was harder, but we never stopped believing that we could make it. We want to help other teenagers who feel like they are a tragedy that they don't know anything about how an adult works world in the field of finance. Incidentally, I experienced this personally during the acceleration and autumn, because I had just moved to Prague after graduating from high school and was starting to study at university. Maybe that's why I feel the need to continue the project despite the more difficult times.”
In addition to developing their social enterprise, they managed to establish contacts, which they consider an essential part of the entire program. In difficult times, they were able to talk to others about the troubles they were experiencing and, according to them, they created a great group with them. Even after the year ended, they are still in touch and have valuable contacts with other innovators and young entrepreneurs.
Where are you going, Don't be afraid?
Looking back now, they never expected the project to reach the scale it is today. They created financial literacy materials that have been used by over 900 teachers, started spreading education on TikTok, created a newsletter and blog, and are planning a hackathon with Google to create a new AI chatbot. And what didn't they think of when they applied for the Social Impact Award?
"I never would have imagined at the time that there would be over 30 people involved in the project and that we would be able to pay for their work. I am happy that in those two and a half years we managed to develop the project from an educational app into a comprehensive form that makes much more sense. When I think back on it, our journey was quite a rocket.”
In 2021, Nekrachni received not only the jury award, but also an award from Česká spořitelna.
The founders of the successful financial literacy app consider participation in the Social Impact Award program a good decision that they would gladly repeat. They managed to build a “pocket assistant” that is no longer just Duolingo for financial education. In their project, they focus on, for example, how blockchain works, American mortgages, how to properly approach saving finances, and what approaches to investing to choose. And why would they recommend participation in the SIA to other young social innovators?
"SIA was THE acceleration program for us that really moved us forward. We applied at the right time and learned really relevant information that helped us he helpedy get Nekrachni to where it is now. If they are not sure whether their program should be for-profit or non-profit, the Social Impact Award is the only program they need to go through to find out. And I would especially say to high school students that if something in their environment bothers or annoys them, just as the lack of financial education annoyed me in Cuba - take action! Don't wait for someone older, more experienced, someone with more resources to come along."
Founders Maria and Jakub on their way to the award at the Social Impact Award 2021 ceremony.
Did you like the story of the Nekrachni, who went on a journey with us in 2021? This year's 2024 SIA is launching in March. Do you want to get involved too? Follow Social Impact Award or write to us on social networks.
Are you interested in what other great ideas are being developed with the support of our acceleration and other programs? Follow us LinkedIn.
