The Global Social Venture Competition (GSVC) provides a much needed financial leg up to fledgling social businesses. Those looking to participate in 2013’s round better get their skates on—the submission deadline for final business plans is tomorrow!
Held annually since 1999, the GSVC supports business models and ideas which bring about positive social change in a sustainable manner. The competition is coordinated globally by the Haas School of Business at UC Berkeley, California, and locally (Africa and Asia) by the Indian School of Business and participants can go in the running to win a slice of the 50,000 USD prize pool as well as ongoing mentoring from some of the world’s leading business schools.
The 2012 competition (held earlier this year) garnered 600 entries from more than 50 countries. The winner of 2012 GSVC, Spill, is an online platform where people can anonymously post (or ‘spill’) about personal issues that are troubling them and receive anonymous peer support within 48 hours. All spills are screened by mental health professionals within five minutes of receipt and people who post are provided with up to five messages of relevant, tailored support.
Participants looking to enter the 2013 GSVC must do so as a team and check off a few pre-requisites such as:
- teams must have at least one member currently enrolled in any full time masters level (post graduate) programme or who has completed such a course within the last two years (not before 2012);
- team size: minimum 3, maximum 5; and
- existing social ventures that are less than three years old can apply as long as the above two criteria are satisfied
Business plans must be detailed and, above all, must outline the problem, proposed solution and implementation plan. A thorough breakdown of what is required as part of a team’s business plan can be found here.
There are cash prizes for the top three entrants (selected by a panel of judges from international business schools) including 25,000 USD for the first place recipient, 10,000 USD for second place and 5,000 USD for third. 10,000 USD is also distributed among a suite of People’s Choice Award winners and finalists.
With the selection panel hailing from such prominent institutions as UC Berkely and the London School of Business, the GSVC not only provides entrants with the opportunity to get financial backing for their project, but also to have their work viewed and assessed some of the world’s top business minds. All interested entrants must visit the Indian Business School’s website for all the competition details.
