I want to be an #impactmaker

Impact Hubí Glossary of Terms

Sometimes we speak and explain so quickly and with such specific words that we only realize that the listener doesn't understand us when their face changes to one of resignation. That's why we have our glossary of terms. It describes the terms you'll often hear from us in a way that's understandable to everyone.

A
B
C
Č
D
E
F
G
H
I
J
K
L
M
N
P
S
T
U
V
Z

A

Acceleration or “acceleration” is a process that supports and develops existing projects, companies or startups. It focuses on those that already have a validated idea. Through mentoring, investment and access to experts and investors, the project accelerates its growth or accelerates its market entry during a short, intensive period. An acceleration program is, for example, Craft accelerator.

Alumni are in our possession graduates of our acceleration and incubation programsThey have gone through our programs and after they finish they remain part of our network and we count them among #impactmakersThey continue to connect with each other, with our community, attend our events, or support other participants.

Angel investors or angel investor is an individual who provides financial support from their own resources to young companies or startups in the early stages of development. Usually in exchange for a share in the company. He also actively participates in making the company/startup succeed; providing his expertise and mentoring.

B

B2B is an abbreviation for Business-to-Business and indicates a business relationship that is ongoing mezi two (or more) legal entitiesIt is the sale of products or services to other companies or organizations. 

B2C is an abbreviation for Business-to-consumer and indicates business between a company and an end customer – that is, selling products or services directly to consumers. For example, when you go to Lidl to buy a roll.

B2G is an abbreviation for Business-to-Governmentit indicates business relations between a company and the state administration (or local government) – i.e. government institutions and organizations.

Business model describes how a company creates, delivers and captures value for its customers and how it achieves profit.

C

Circular economy is an economic model that seeks to minimize waste and maximize resource use. It is far from just about waste, it is about changing the entire way we design, produce and consume. Circularity focuses on keeping materials and products in circulation for as long as possible – whether through repair, recycling or reuse – to extend their lifespan and minimize waste. We use the acronym 3R for the basic principles of sustainable resource and waste management: Reduce – Reuse – Recycle.

Climate positive is a designation for an organization that achieves zero carbon emissions. That is, it does not release any excess carbon dioxide into the atmosphere, either by reducing its emissions or by offsetting those it does emit. The goal is to so that the resulting carbon footprint is 0.

Impact Hub has committed to being carbon neutral by 2030.

Coworking je shared workspaceIt brings the opportunity to make new contacts, reduce costs compared to a regular office, as well as support and inspiration from others. Impact Hub was the first coworking in the Czech Republic.

CO₂ equivalent is the unit we express total carbon footprint (e.g. company, product, transport, event) with a single number. Different gases – such as methane (CH₄), nitrous oxide (N₂O) or fluorinated gases – have different “powers” ​​to influence the climate. In order to express this power in a single comparable number, it is converted into the amount of carbon dioxide (CO₂) that would have the same effect on global warming (for example, 1 kg of methane = approx. 25 kg CO₂eq).

Crowdfunding is a process financing projects or business through contributions from people – usually via online platforms. A project or organization solicits financial support from the public, who in return receive company products and other small items or services.

CSR is an abbreviation for Corporate Social Responsibility, or corporate social responsibility and indicates 3 areas (economic, social and environmental), each of which has defined principles that fall under it. These principles should be integrated into every company's daily work. To be socially responsible company is not legally enforceable but it is in the interest of the company itselfNot only does it bring a competitive advantage to the company, but it is also becoming one of the main demands of the younger generation on the market.

Č

Jako member events we mark internal events for our Impact Hubí communityTheir goal is to connect members with each other, introduce them to each other, and encourage entrepreneurship and networking. It can be anything from a hard-skills workshop to morning yoga.

Membership at Impact Hub you will get by purchasing one of our coworking spaces tariffs or office. But it's not "just" a job. It's everything around it - access to our #impactmakers community, to our events, to our internal resources. Thanks to this, you can better network and develop yourself and your business in the right direction.

D

Impact is a word you'll hear from us a lot. It's the reason we exist. It means positive changewhich a person or any group brings to society, community or environment through their activities. 

 

At Impact Hub, we consider those products/services to be impactful that meet at least one of the following criteria: 3 questions: 

  • Does the product/service improve the quality of life of an individual or group for the better? (S)
  • Does the product/service solve an environmental problem? Does it help nature, the climate or the environment? (E)
  • Is the core business/product focused on supporting others in ESG/sustainability?

 

At the same time, for a product/service to truly be considered impactful, it should have a long-term benefit (not just a one-time one) and it should be possible to monitor and measure it.

E

early adopters are people or organizations who, as early adopters of new technologies, products or servicesThey are willing to take risks and invest time or resources in new innovations because they see potential in them.

ecosystem in business and technology context refers to cooperation, information exchange and resource sharing between various entities that belong to the ecosystem and contribute to growth and innovation in a given industry.

elevator pitch is a lightning-fast verbal presentation (you should be able to say it while riding in an elevator – hence the name “elevator”). The main goal is to attract attention and arouse the listener’s interest, so that they are motivated for further communication or action.

Entrepreneurship (Czech podnikání or entrepreneurship) is the process by which an individual or group of people identifies a gap in the market and creates a new product, service or business. Their goal is often to innovate, solve a problem, create value and, of course, generate profit. We we support entrepreneurship through various acceleration programs and other formats.

Environmental sustainability is a type of sustainability that focuses on conservation and proper management of natural resources and environmental protectionIt deals with, for example: access to cars, nuclear power plants, the back-up of PET bottles and cans, or the garbage flooding beaches and forming islands in the sea. As part of it, we embarked on finding a way to use biowaste in UGO slateries or for EG.D they organized hackaference.

Equity in a business context means share in the ownership of the company acquired at its establishment or acquired in the course of. It is usually held by startup founders or investors in exchange for their financial capital and know-how.

An acronym you hear almost everywhere these days. ESG means Environment, Social, Governance – that is, how the company behaves towards planet, people and how she drives herself.

  • E (environment) – addresses whether the company just produces and consumes, or also thinks about how it affects the planet – how it deals with emissions, waste, water, energy, biodiversity, etc.

  • S (social, socially beneficial impact) – focuses on the human side – fair working conditions, diversity, equal opportunities, relationships with the community or customers.

  • G (management and administration) – means the proper functioning of the company – transparency, ethical management, responsibility towards stakeholders, the fight against corruption, etc.

ESG tells us that business should make sense, operate fairly, and at the same time remember that we only have one planet.

Event guy is a person who has in charge of the eventthat take place with us – whether those organized by us or by our external clients. Our event managers will make sure that everything runs smoothly, they will solve it with you refreshment, promotion and they usually do a little more than you expect from them. 

Consultant or expert is an expert in her field who will help you develop your project with topics such as finance, marketing, law or strategic planning. In addition to theory, she also masters practice and is continuously educating herself in her industry.

At Impact Hub, we have a network of mentors and experts around us, numbering around 400, and we can connect you with them. let me knowif you are interested.

F

Phoenix is a company in the business environment that generates more than 1 billion US dollars (USD) per year in the value of ecosystem services (= the benefit that people get from nature – from forests, rivers, soil…) and thereby restores, protects or restores nature. Phoenixes do not think about their business only in the logic of “sustainability” (i.e. how to do less harm), but in the logic of regeneration – they ask “how can we create a business that actively helps nature grow, heal and strengthen?” In short, it is a company whose business model directly benefits the planet.

Take a look impact diagram, maybe it will be even clearer.

 

G

Gigacorn is a relatively new and informal term that refers to a company that has not only reached a market value of over $1 billion (like a unicorn), but also has the potential to remove at least 1 gigatonne of CO₂ from the atmosphere per year. Gigacorn is simply a unicorn with a huge positive climate impact. And we need them. To keep global warming below 1,5°C, we need not only to reduce emissions, but also to remove CO₂ from the atmosphere on a truly large scale. And gigacorns could be key players in achieving climate goals.

Greenwashing is when a company outwardly claims to be eco-friendly and sustainable, but in reality it is not.

E.g:

  • puts green leaves and an inscription on the packaging eco, even though inside is a completely ordinary (and often unscrupulous) product,

  • He boasts about one "good deed" but prefers to keep quiet about the rest of his activities,

  • uses vague slogans like natural, clean, gentle without any evidence.

Greenwashing confuses customers and gives them the false sense that they are supporting something good by purchasing something, but it actually hinders those who are serious about sustainability.

H

Mushroom spirit is the charisma and magical essence of every employee and (actually) member of Impact Hub. Hub Spirit cannot be described, it is must experienceWe believe you experience it in part every time you talk to one of us.

I

Impact Hub MeetUp is a meeting format for entrepreneurs who want to network, start a business or meet other proactive people. It is networking event, where participants make valuable contacts, also thanks to the controlled networking that allows you to get to know everyone present. Typically, 30 to 40 people participate and the meetup may have a specific topic.

Impact Hub MashUp is our own event format, which is characterized by quick presentation form. Each presenter has only 200 seconds for 10 slides (20 seconds per slide) to present their output. This often generates funny moments and participants not only broaden their horizons but also have fun. Impact Hub MashUps are usually organized on a large scale and it is an event worth attending.

Impact Sponges they are ours newsletter, into which we select it the best and most interesting from the Czech (and sometimes international) impact scenes. You will find information on financing your project as well as tips for interesting events and activities. It revolves around sustainability and social and environmental topics.

#impactmaker is anyone who, through their business or daily activities, brings positive impact on society, the environment or the local community. Who thinks sustainably, innovatively, with respect for people and the planet. Impact Hub serves as a living ecosystem that connects these people, supports and amplifies their efforts not only in the Czech Republic but also around the world. PWe connect, support and inspire those who want to change the world for the better.. We are #impactmakers, and you can be too. Just join us.

Information desk is the place where we welcome our guests, members and anyone else who comes to Impact Hub. It's actually a kind of reception; our main point of contact, where you will find answers to all your questions and directions when you are looking for something.

Incubation is a process that develops business ideas at their very beginning. At the beginning of incubation, you don't even need to have the idea – all you need is the desire and entrepreneurial spirit. Incubation programs will provide you with the support, mentoring, access to finance, a network of contacts or know-how that will help you develop your idea into a viable business. Their goal is to test the idea and then launch it on the market. An incubation program is, for example, Social Impact Award.

Intrapreneurship support entrepreneurship within the company, where employees use the freedom and trust of the company and create new ideas, projects and innovations for its growth. An intrapreneur is actually an “internal entrepreneur”. A well-known example is Google, which allowed its employees to devote up to 20% of their working time to their own projects or ideas that were not part of their main job, and thanks to this, for example, G-mail was created.

J

Unicorn in the business world it refers to a private the companywhich has reached market value of at least 1 billion US dollars (USD). In fact, it is such a rare, exceptional mythical animal. It is characterized by rapid growth, high valuation and often aggressive expansion. In the Czech environment, such companies include Rohlík, Mews or Productboard, which we have in our office in the Brno Impact Hub.

 

Take a look impact diagram, maybe it will be even clearer to you.

K

Climate mitigation is a file measurewhich aim to limit or slow down climate change, specifically reducing greenhouse gas emissions (such as CO₂, methane or nitrous oxide) and increasing the capacity of nature or technology to absorb these gases. This includes, for example, the transition to renewable energy sources, sustainable agriculture and forestry, energy efficiency, etc.

Climate justice is an approach to climate change that emphasizes fair distribution of responsibility for its change and support for vulnerable groups and communities. He recognizes that the impacts of the climate crisis do not affect everyone equally – they hit hardest those who have contributed least to it: poorer countries, marginalized communities, future generations. He says that climate is not just an ecological problem, but also a question of ethics, inequality and equal opportunity.

Know-How or "know-how" is practical and specific knowledge or experience, instructions on how to solve specific problems or achieve a certain goal.

The person whoe cares for our members, provides them with support, connects them and ensures that the community flourishedHe knows everything there is to know about Impact Hub and supports our members in getting the most out of the community.

L

Lektor or proofreader is a person who teaches others and passes on their knowledge of a specific field or activity through specialized courses, training or workshops. Their goal is to impart specific knowledge in a relatively short period of time.

At Impact Hub, we have a network of mentors and experts around us, numbering around 400, and we can connect you with them. let me knowif you are interested.

Lounge is a place in our Impact Hubs where meetings take place, people have lunch here or just relax. It's a chill zone with a business vibe.

M

Mastermind is a support format in which a group of carefully selected people meet to discuss a specific assignment. During a short time window, they brainstorm on a problem that one of them presents and share their experiences. This format primarily serves as a solution to a specific problem that the client comes up with. But it is also very beneficial for the participants who help solve the problem; they meet different perspectives here and can broaden their horizons and gather inspiration.

 

We are masters at masterminding – Look how he looked. for example the one we organized in Ostrava for TrashcanWe can organize it for almost any industry, Contact us.if you are interested.

mentee (or also protégé or client) is someone who is undergoing mentoring and learns from his mentor. 

Mentor is an experienced individual who passes on its know-how, experience and advice to someone less experienced (the so-called mentee). He helps the mentee grow professionally and personally, gives feedback, passes on contacts and opens the door to the world he knows well. But he does not tell him what to do - instead he helps him find his own path, responds to his needs. 

 

At Impact Hub, we have a network of mentors and experts around us, numbering around 400, and we can connect you with them. let me knowif you are interested.

N

Nature positive, Czech positive attitude towards nature, is a concept where human activity does more than just “do no harm” to the environment, but actively benefits him, restores and increases biodiversity. Ecosystems are thus restored and regenerated instead of declining.

In the context of business and companies, we talk about the so-called Phoenix.

NetZero or "net zero" means that a company or country measures how much greenhouse gas emissions its operation into the atmosphere, and the same amount of greenhouse gases from the atmosphere removes.

Look at that positive climates.

Network je an interconnected network of people, companies, or organizationswho share common interests, knowledge, skills or participate in projects.

Networking is o building and maintaining professional relationships, which can open up new opportunities for you. It's a great way to exchange tips, support each other, and meet new people who can help each other grow professionally.

At Impact Hub, we organize various types of networking events for our community, including: Impact Hub MeetUp.

NGO (non-government organization) is an English abbreviation for non-profit organization. These are in principle not part of the government and are not for profit. They focus on social, humanitarian or environmental activities.

P

Pitch je business idea presentation, usually in oral form. It is used to present an idea, product or service to given investors, customers or other interested parties. The goal is to inform them of the value of the concept and to provoke the desired action in them (purchase, investment, sharing, etc.).

Our Purpose Tech pre-seed investment fund It regularly organizes investment calls, giving new projects the opportunity to pitch to investors.

Pitch decks je presentation of an idea accompanied by a set of images that pitch They structure and support its impact. They serve to illustrate key aspects of the project, from the customer problem, through market analysis, team, business model and financial forecasts, to the company's solution to the situation.

You'll hear us inflect this from left to right. Positive impact is a beneficial effect that arises from intentional action – for example, through business, projects, policies or innovations – and contributes to improving the quality of life of individuals, communities or the environmentAt Impact Hub, we focus on creating a positive impact, primarily in the environmental and social areas, and we also focus all our activities around this.

Look at that impact.

Food sustainability means that we can produce, share and eat food in a way that feeds people today, but does not deprive the land, water and future generations of the chance to live. It is not just about organic farming, but also about fair prices for farmers, shorter supply chains, less waste and access to quality food for all. In short – food that is good for people, fair for those who grow it and kind to the planet.

The person who makes sure that everything in our The space ran like a wireFrom the replenished self-service bar, to the tidy meeting rooms, to the fact that we always have enough people in the space to advise and help. 

Pre-seed phase is the very first phase startup launch or business. Founders in this phase are usually looking for financing for their idea, which is not yet fully developed and implemented, so that they can even begin to develop it. Founders invest in projects from their own savings, angel investors (angel investors) or pre-seed funds.

At Impact Hub, we co-founded PurposeTech pre-seed fund which finds and funds startups at exactly this stage.

S

Scouting indicates a process searching for new opportunities, talents, innovations, startups or investments. Mostly according to pre-determined and agreed criteria. For example, in 2023 ČSOB needed to find innovative, technological B2B startups operating on the Czech market for its StartIt program – so we were scouting for them back then. 

Seed phase Startup funding comes immediately after the pre-seed period. In this phase startup creates/develops a prototype of its product or service and is looking for investors who believe in the product and will financially support its development.

At Impact Hub we have Tilia Impact Ventures fund, which focuses its funding on this phase.

Seed fund is a type of investment fund that seeks and invests in emerging startups or entrepreneurial projects in their early stages – when a startup has a developed idea and needs capital to create a prototype of a service or product. They are a relatively key player in the startup ecosystem, as they provide finance to aspiring founders when they have limited access to traditional sources of financing (bank loans or large venture capital), usually in exchange for an ownership stake in the company.

Within the Impact Hub, this phase of startup support is dedicated to Tilia Impact Ventures.

SDGs (Sustainable Development Goals) is a global program aimed at solving social, economic and environmental challenges. The SDGs include 17 main goals and 169 sub-goals, which UN member states plan to achieve by 2030. Key areas include sustainable urban development, biodiversity protection, reducing inequalities and promoting sustainable production. Cooperation between governments, the private sector, non-profit organizations and citizens is key to achieving them. In fact, it is a framework strategy for how to ensure sustainable development on the planet.

SME: (Small and Medium-sized Enterprises) is an English abbreviation for small and medium-sized enterprises.

Social entrepreneurship refers to business activities that do something good for society – for example creates job opportunities for people with health, social or cultural disabilities. It can take many forms, but all contribute to solving social problems and promote sustainability. For social entrepreneurship, economic profit is on the same level as increasing public benefit.

 

An example might be Pragulice project, which provides foreign and domestic tourists with unconventional tours of Prague conducted by homeless people, thus giving them work. The project passed our 2012 acceleration program Social Impact Award.

Social justice is a concept that describes the ideal state of society. It is based on equal opportunities, equal access to basic needs, eliminating discrimination, and ensuring a quality of life for people across society. It is based on the idea of ​​humanism, and although there is no generally accepted definition of what is and is not fair, there is a mostly recognized consensus.

Social sustainability is a type of sustainability that focuses on ensuring social justice, equal opportunities and improving the quality of life across society. If you want to have a socially sustainable business, think about how, in addition to profit, to also address the issue of integrating marginalized groups into society.

Examples of such socially responsible projects that have gone through our acceleration and incubation programs are: Pragulicawho give work to the homeless by turning them into original guides to Prague, Mamio, focusing on the social exclusion of mothers on maternity leave or Czechitaswho decided to help women in the IT industry.

Social sustainability is often a hidden but essential aspect to consider in your projects and work. This will give your projects a real impact and you will contribute to a better world.

Stakeholder is actually an interested party. Anyone who who is interested on the outcome of a company, project or decision. They can be internal (e.g. owners or employees) or external (e.g. customers, community, investors or suppliers). Each of them can have a different influence on the decision - some only influence, others directly decide or bear the consequences. In the area of ​​sustainability or social impact, stakeholders are often also thought of as those who are indirectly affected by the activity - for example, future generations.

Startup je starting business project or a company that is usually in the early stages of development and focuses on innovative product, service or technology. The startup world is fast and dynamic because startups operate in an environment of high uncertainty and validate their ideas through trial and error.

T

Triple Bottom Line (TBL) translated into Czech as triple responsibility is the concept of measuring an organization's success according to 3 key indicators (also known as the 3Ps): 

  • People (people / social impact) = how the company impacts employees, the community, customers and society as a whole (e.g. fair working conditions, diversity, education, community support).
  • Planet (planet / environmental impact) = how the company's activities affect the environment (e.g. CO₂ emissions, resource consumption, waste, biodiversity protection).
  • Profit (profit / economic sustainability) = whether the company is financially stable and creates economic value (e.g. profit, growth, return on investment). 

In short, TBL encourages companies to not measure their success solely on profit, but to also consider the social and environmental impacts of their activities. It is a fundamental principle for sustainable and responsible business.

U

Carbon offset is the process by which a company or firm will let measure your emissions (production, operation, ...) and then it is an equal part compensates by financing environmental projects. This does not reduce their own emissions, but compensates for them elsewhere.

"Urchin" is a term we use to describe at Impact Hub a random passerby. In short, someone who was walking down the street and stopped by us. Someone who is interested in membership or participation in an event and does not have an appointment with us. But of course we will be happy to welcome them with open arms.

Sustainability is a big topic for us. It means to us to live and do business in a way that does not endanger the needs of future generations, and to do as little damage to the environment as possible. In short, in everything we do, we should think about those who will come after us and how to leave the world in the best possible shape for them. You can read more about this in depth here. read on our blog.

V

Venture capital (VC) is a form of financing where an investor (a so-called venture capital fund or angel investor) provides funds and support for start-up businesses with high growth potential, most often startups, in exchange for a share in the company.

Z

Zebra is, in a business context, a company that emphasizes balance between profit and positive impact to society. It often uses the concept Triple Bottom Line, which, in addition to profit and economic performance, also focuses on the social and environmental impacts of business. The founders of these companies want to do business ethically, sustainably and meaningfully.

Take a look impact diagram, maybe it will be even clearer.

Dive into stories of exceptional projects and impact:

ImpactHubky: Our newsletter once a month for free in your email.

Unlock the door to:
✔️  Inspiring stories from our surroundings ✔️  Invitations to educational and development events ✔️  Opportunities to obtain a grant,
 both grant and private financing

"*" indicates required fields

By sending, you agree to the processing of personal data according to our principles.

Impact Hub Prague

Impact Hub Brno

Office Hub Trnitá Brno

Impact Hub Ostrava

Impact Hub Prague
I want to go to Prague.
I want to go to Brno
I want to go to Trnita
I want to go to Ostrava.