A Developmental Evaluation of the FINNOVATION Fellowship Program

TerraLuna Collaborative · August 2024

What helps early-stage social entrepreneurs turn what they learn into decisions about their businesses?

TerraLuna Collaborative evaluated the FINNOVATION Fellowship from 2021 to 2024 to understand what Fellows gained, where they struggled, and how the program could better support them.

Download “A Developmental Evaluation of the FINNOVATION Fellowship Program”

What the Evaluation found

Finding Description
Fellows valued the training and needed time to use it.
  • The curriculum helped founders build business skills and test assumptions about their customers. Some Fellows found the pace demanding alongside work and other commitments.
The cohort became a lasting source of support.
  • Coaching, mentorship, and peer roundtables helped Fellows work through challenges. Some continued turning to those relationships for advice after the program ended.
The stipend gave founders room to rethink their ideas.
  • The $50,000 living stipend gave Fellows time to research their markets, refine their business models, and make more deliberate decisions about what to build.

What TerraLuna recommended

TerraLuna recommended giving Fellows more time to apply what they learn, making coaches and mentors easier to access, and helping founders test whether customers will pay for what they offer. The report also calls for more structured support as Fellows transition out of the program.

Download “A Developmental Evaluation of the FINNOVATION Fellowship Program”