A Global Social Entrepreneurship Feasibility Analysis Competition co-hosted by Elon University's Doherty Center for Entrepreneurial Leadership and IE University to foster projects that have social or environmental impact as a central component of the enterprise will be held on July 11 in Segovia, Spain.
Projects must be economically sustainable, with a high potential for international expansion. A social entrepreneur establishes and/or leads an organization that catalyzes systemic social change by providing innovative products or services that benefit excluded populations.
Social entrepreneurs create hybrid organizations that use business methods and tools – but their bottom line includes social value creation. Social entrepreneurship captures a unique approach to applying entrepreneurial principles to problems of unsustainable livelihoods, an approach that cuts across sectors and disciplines. It is this approach that the Doherty Center and IE University wish to instill in the students and alumni taking part in this competition.
The competition is open to teams with at least one currently enrolled student of a recognized education institution. Other members of the team may include alumni of a recognized education institution. The winning project will be awarded €1.500.
Judging will be based on the following criteria:
Idea: Clear, direct. It engages while clearly stating the opportunities of the endeavor and the needs being addressed.
Social Impact: Clarity on the value proposition, company’s objective on the long term, clear competitive advantages, and the potential to meet the social/environmental goals
Management Team: Key roles identified. The team has commitment, skills, contacts and experience to make the endeavor a reality.
Market Opportunity: Clear need and how it will be solved. Market and Industry analysis.
Business Model and Strategy: Clarity on the key success factors as well as on the business model.
Viability and Replicability: Real market opportunity, creative, innovative, scalability and reach of the endeavor.
Financial Sustainability and Social Return on Investment (SROI): Rigor and feasibility of the endeavor’s financial models and projections. Systematic way of measuring ongoing, sustainable social return.
Selected finalist teams will prepare a 10 minute pitch of their social venture project to be presented to judges and an audience composed of social entrepreneurs and educators.