Application Deadline: August 26, 2015 at 11:59PM Eastern Time
The Forbes Under 30 $1 Million Change the World Competition is the largest-ever competition for young social entrepreneurs, funding those disruptive and scalable ideas that address global challenges.
The competition calls on social entrepreneurs with disruptive and scalable ideas with the potential to change the world. It is open to both nonprofit and for-profit enterprises. This is not a business plan competition – organizations or companies must already be in operation and the prize money should be utilized to accelerate the most promising ideas.
The challenge will award a total of $1,000,000 USD in cash and in-kind prizes. The awards and/or investments will come from the following Sponsoring Organizations: The Charles and Lynn Schusterman Family Foundation, the Case Foundation, the Pratt Foundation, the Keywell Foundation and entrepreneur Bob Duggan, plus an in-kind advertising grant from Forbes.
The challenge is open to:
Active social entrepreneurs who are under the age of 30 at the time of the competition (i.e., born after October 6, 1985) who are a founder, co-founder or top executive of their organization.
Applicants from anywhere in the world.
Those who are already actively engaged in a social enterprise – this is not a business plan contest, but rather one that will reward and accelerate those entrepreneurs already making a difference.
- Both nonprofit and for-profit social entrepreneurs – finalists will come from both categories.
- Five or six finalists, selected from the complete pool of competitors, will receive a cash award of $100,000 USD.
- They will then compete on-stage at the Forbes Under 30 Summit in Philadelphia on October 6, 2015 in front of 2,000 world-class mentors and the best young entrepreneurs and game-changers in the world, as culled from the Forbes 30 Under 30 lists.
- The overall winner will receive at least $400,000 USD in additional cash and in-kind support, bringing their award total to at least $500,000 USD, and the overall award total to $1,000,000
Five or six $100,000 USD prizes (or equivalent); and
One $400,000 USD prize (or equivalent) to the overall winner
Finalists will be invited to participate in the Under 30 Impact Lab – an afternoon during which the attendees at the Under 30 Summit will work with challenge finalists to help them solve problems and accelerate their growth.
- Applications will be screened by the Wharton Social Impact Initiative of the University of Pennsylvania. The finalists will be announced in early September, before competing on the main stage at the Forbes Under 30 Summit on October 6.
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