Type of Funding
The Global Social Venture Competition (GSVC) invites aspiring entrepreneurs who value the social as well as the profit potential of business, to submit entries for its 2019 competition, which rewards winners with mentoring, exposure, and a total prize money of US$80,000 to transform their business ideas into positive real-world impact. The GSVC takes place over 3 rounds, the first 2 of which are conducted through the GSVC Global Partner schools and competitions, which include Berkeley Haas, ALTIS (the Postgraduate School Business & Society of Università Cattolica del Sacro Cuore), Berytech, Georgia Tech, Koç University, University of the Thai Chamber of Commerce, etc.
GSVC connects emerging social entrepreneurs with the world’s leading experts in venture capital, impact investing, and social entrepreneurship. It will support the most promising early-stage for-profit or nonprofit solutions that address the world’s most pressing social challenges using technology. Successful ventures would be those that show the highest, most integrated financial and social and/or environmental returns, demonstrating “blended value”.
For the 2019 competition, all ventures must have a technology component to their venture, whether a product, hardware, software, web platform, mobile app, wireless, etc. Solutions should utilize “technology for good” in some form, whether the entire venture is focused on a technology-based solution or if the venture has some degree of a technology component built into the solution.
The 2019 Global Finals will be held on 3 to 5 April 2019.
The First Place winner will receive US$40,000, whilst the 2nd Place winner will receive US$25,000 and the 3rd Place winner will receive US$10,000. There is also a Priya Haji Memorial Award of US$2,500, a People’s Choice Award of US$1,500 and a Quick Pitch Award of US$1,000.
Each entrant team must include a student or recent graduate, from any level of higher education (undergraduate, masters level/graduate, or doctoral) in any area of study in the world, who must be actively involved in the venture, and who must be 1 of the team’s presenters and available to answer judges’ questions in the final 2 rounds of the competition.
Recent Bachelors degree holders must have completed their degree within 4 years of 31 December 2018, whilst recent Masters or Doctoral level degree holders must have completed their degree within 2 years. The student or recent graduate must be a founder or co-founder, actively participating in the development of the business or actively working on the business.
Only social ventures which plan to be financially sustainable or profitable are eligible, be they for-profit, non-profit, or hybrid business models. Ventures should include a technology component, whether a technology-based solution or a technology component is utilized to address the solution. Ventures submitted should include products and services developed from the application of scientific knowledge. This may involve software, hardware as well as other devices and products. The technology can be manifest in the product or service itself, or be the way in which the product or service is delivered.
They have to be scalable long-term, with a quantifiable social and/or environmental bottom line incorporated into their mission and practices. Submitted ventures must be less than 2 years old as of 31 December 2018, which are not wholly owned subsidiaries of an existing entity, and they must not have received more than US$250,000 in funding from venture capital, private investors, grants (government or foundation), loans, or other funding sources. The lifetime revenue should not exceed US$500,000. The entry must include a financial analysis as well as a Social Impact Assessment (SIA), including the Social Value Proposition and Social Indicators.
A team cannot enter the competition more than twice. Teams that have competed at the Global Finals may not enter more than once. All submissions and presentations for the Global Finals round must be in English. Questions from the judges during the Global Finals may be translated from English to the team’s native language, but should be answered in English.
Applications are to be done online by 3 December 2018.