Application Deadline: September 6, 2017
The Rise Fund is partnering with Forbes and Echoing Green to host the first-ever Under 30 Impact Challenge. The competition is open to creative entrepreneurs around the world, under the age of 30, who are driving positive social and environmental impact through successful for-profit enterprises. The winning business will receive up to $500,000 in value and will be awarded at the fourth annual Forbes Under 30 Summit on October 2, 2017, in Boston.
- Applicants must be under 30 and the businesses must be in a growth phase, with two full 12-month periods of generating revenue above $100,000 in each period and/or $1 million in cumulative revenue since inception.
- Businesses must operate in one or more of the following seven sectors: education, energy, food and agriculture, financial services, growth infrastructure, healthcare or TMT (technology, media and telecommunications).
To be eligible to participate in the competition, an applicant must be:
- An active entrepreneur who is under the age of 30 at the time of the competition (i.e., born after October 2, 1987) who is a founder, co-founder or top executive of their business with the authority to enter this competition on their business’ behalf.
- In the “growth phase” of its business, with either (a) at least 2 full 12-month periods of generating revenue above $100,000 in each period and/or (b) at least $1 million in cumulative revenue since inception.
- In a business that (a) creates a positive social and/or environmental impact as an inherent and intentional part of its core strategy and (b) operates in one or more of the following seven sectors: (1) education, (2) energy, (3) food and agriculture, (4) financial services, (5) growth infrastructure, (6) healthcare, or (7) technology, media, and telecommunications.
The competition winner award package will consist of the following:
- Investment offer of up to $250,000 USD, comprised of a combination of cash investment and business-building support, from The Rise Fund and its affiliates; and
- $250,000 USD in-kind media grant from Forbes.
- The winner announcement will be on Monday, October 2, 2017.
- The investment offer will be subject to mutual agreement on investment terms (including investment size and valuation) between the winner and The Rise Fund and its applicable affiliates.
- The in-kind grant will be credited to the winner outright, without any equity consideration.
The winning company will qualify for up to $250,000 in value from The Rise Fund and its affiliates on mutually agreeable investment terms. Forbes will offer $250,000 in an in-kind media grant, bringing the total value to $500,000.
The competition submission consists of an online questionnaire and additional requested information, as set forth on the submissions page located at: www.therisefund.com/under30impactchallenge. Follow the instructions on the submissions page to register for the competition and to view and complete the submission form.
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