The non-profit organization, Savvy, has published its first impact report since its launch. On February 24, 2021, it published a post on Facebook and other social media platforms that read: “Feb. 4, made it 6 months since we launched the Savvy Fellowship program, and it seems like yesterday. How time flies.“
On a mission to train at least 10,000 passionate individuals to build successful impact-driven businesses, the organization has decided to measure and publish its progress for the last 6 months, to see whether or not it’s making an impact or falling behind. From August 4, 2020, to February 4, 2021, Savvy received 39,958 applications from individuals interested in the Savvy program. It accepted 3,298 of them, which is an 8.25% acceptance rate. 1,121 being female, and 2,177 being male.
These 3,298 participants (often referred to as Savvy Fellows) come from 122 countries. 2,181 of the Fellows have completed the Savvy program—generating 1,278 business ideas and kickstarting 587 businesses during and after the program. In the nearest future, Savvy plans to get more mentors for the Savvy program, train 7,000 more individuals through the program, and provide Internet allowance for some of the Fellows who need it to participate in the program.
“Due to the COVID-19 pandemic, many have lost their jobs and are now living in an uncertain world. I and 131 entrepreneurs from 36 countries came together to start Savvy, a global Fellowship program equipping these recently unemployed individuals with the necessary knowledge and skill that they need to start their own impact-driven business and succeed as entrepreneurs,” says Chidi Nwaogu, Head of Fellowship Program at Savvy.
For 12 weeks, no matter what stage their venture is, the Savvy program helps selected Fellows answer all the relevant questions that they need to kickstart their amazing impact venture, gain early traction, achieve product-market fit, scale into new markets, create jobs, and improve the economy of their nations.