Social entrepreneurs are invited to apply for the Global Social Venture Competition 2019 to receive support and cash prizes for their social ventures.
The Global Social Venture Competition was founded by students, at UC Berkeley’s Haas School of Business, in 1999. The initiative rewards the best of social entrepreneurs with prize money to advance their ventures further.
Participants learn to develop innovative and scalable solutions. Global Social Venture Competition also connects, exposes and supports entrepreneurs through its network of 16 partner schools and competitions.
This is how the prize monies read:
- First Place – sh.4 million ($40k)
- Second Place – sh.2.5 million ($25k)
- Third Place – sh.1 million ($10k)
- Priya Haji Memorial – sh.250k ($2500)
- People’s Choice – sh.150k ($1500)
- Quick Pitch Award – sh.100k ($1000)
The prizes will be handed out based on overall scores in demonstration of business potential, social impact potential and likelihood of success. One activity critical to overall score will require participants to focus on and show progress in, set, distinct emphasis areas.
- Venture should aim for financial sustainability in the form of for-profit, non-profit or hybrid business
- Venture should have quantifiable social and/or environmental bottom line incorporated into mission and practice
- Venture should be scalable in the long term – this means different things for each business
- Application should include a financial analysis and a social impact assessment (learn about this on the official webpage, shared in this post)
- Venture must be less than 2 years old as at application deadline (early stage business)
- Venture must not have received more than sh.25 million ($250k) in funding of any form – VC, investor, grant, loan, etc. – as at application deadline
- Venture lifetime revenue should not exceed sh.50 million ($500k) as at application deadline
- Venture cannot be a wholly owned subsidiary of an existing entity
- Venture should include a technology component as the product/service itself or means of delivery – technology meaning product/service developed from application of scientific knowledge
Global Social Venture Competition will have a right to investigate funding and qualification of ventures. This is to assure that applicants are indeed early stage businesses.
Deadline for application is 3rd December, 2018. This will be followed by regional and global rounds in 2019. Want to apply now or know more? Visit the Official Webpage.0