Over $4,500 in Awards

Overview

The Social Venture Competition celebrates and rewards students who have developed solutions intended to impact society’s biggest problems. Turn your ideas into impact by submitting your proposal to this showcase event.

Qualifying venture proposals will have a clear, measurable social or environmental “benefit” included in the venture’s mission, have a planned source of revenue sufficient to sustain the proposed venture, be potentially scalable, thus increasing the likelihood of significant societal impact and include at least one UCF student on the founding team as only students of the university and present during the event.

What kind of ideas qualify as social ventures?

A social venture provides a new approach to solving a societal problem. They are ideas which drive social change, be it local or global, through the power of business. Qualifying venture proposals will have a clear, measurable social or environmental benefit included in the venture’s mission, have a planned source of revenue sufficient to sustain the proposed venture, be potentially scalable, thus increasing the likelihood of significant societal impact, and include at least one UCF student on the founding team; note, only students may pitch ideas during this event.

Important Dates

Information Sessions

Information sessions for the Social Venture Competition will be held at 12:00 p.m. on the following dates at the listed locations:

  • Monday, September 24 at the Blackstone LaunchPad, Student Union
  • Monday, October 8 at the StarterSpace, BA1 #135
  • Wednesday, October 17 at the StarterSpace, BA1 #135

Application Deadline

Applications to participate in the Social Venture Competition are due no later than Monday, October 29 at 5:00 p.m. EST.

Finalists Announcement

Finalists for the Social Venture Competition will be announced onn Monday, November 5 at 6:00 p.m. EST.

Finals

Finals for the Social Venture Competition will be held on Thursday, November 15 at 3:00 p.m. at the StarterSpace, BA1 #135.

Does your venture have the potential to make a large-scale societal impact?

Consider applying to participate in our Social Venture Competition to receive exposure for your venture and be entered to win over $4,500 in awards.

Eligibility

The competition is open to all full-time and part-time undergraduate and graduate students enrolled at UCF during the 2018-2019 academic year. A venture’s management team must consist of at least one UCF student who has a key role and ownership stake in the venture. Alumni and non-students may participate as members of a venture’s founding team. However, only UCF students may participate in presentations or answering questions from judges.

Submissions may be entered by individuals or teams. The size of the teams is not restricted. A team may enter only one idea, and students may participate on only one team.

Entries must be the original work of entrants, and only complete applications will be considered.

New venture proposals that have earned scholarship awards in a previous UCF Social Venture Competition are not eligible to participate.

Evaluation

Idea/Concept

  • Venture addresses a clearly defined social problem
  • Venture targets a market in which there is potential economic opportunity
  • Venture offers a clear value proposition(s) to its customers, beneficiaries, and other key stakeholders
  • Venture has a viable revenue model that shows clear understanding of key cost drivers, revenue streams

Social Impact

  • Social impact scales as company grows
  • Social impact projections are based on reasonable assumptions and credible data
  • Team has designed a clear plan for measuring social impact

People

  • Team has a clear execution plan and is prepared to address potential risks
  • Venture’s legal form (e.g. for-profit, non-profit, etc.) supports its vision and desired outcomes
  • Members are passionate, committed, and resourceful

Context

  • The conditions (i.e. regulatory, tax, political) are favorable
  • Market need, size of opportunity, competitive landscape, and potential risks are identified and manageable

Resources

  • Funding sources are identified and a plan for securing initial investment is articulated
  • The funding plan is sensible in terms of capital required to launch and operate

Performance Measurement

  • The plan provides a clear plan to deliver high performance
  • The plan takes a practical approach to milestones and organizational outcome measurement

Communication/Presentation

  • The team was persuasive in communicating the idea and its potential
Event Format

Presenters will be given up to 7 minutes to present the problem they intend to address, the solution they plan to offer and a financially sustainable and scalable business/organization model capable of delivering the solution to those in need. They will then have 3 minutes to respond to questions from the judging panel.

Eight teams will be selected for the event finals, and the order of presentations will be determined randomly prior to the beginning of the event. After the presentations are completed, participants and audience members will be invited to enjoy a networking and awards reception that honors our participants and our sponsor.

Prizes & Awards

Applications for this event are due on Monday, October 22nd. Eight social venture proposals will be selected from these applicants and invited to present at the Social Venture Competition Finals on Thursday, November 15th, 2018. Scholarship awards sponsored by Start Farm Insurance will be distributed based on evaluations from the competition’s judges as follows:

  • 1st Place – $2,500
  • 2nd Place – $1,250
  • 3rd Place – $500

Our Honorable mention will receive $250 in funding.

Submission Guidelines

Interested competitors may complete an application by creating an account and following the instructions on the application page. At any time during the application process, you may save your application and log back in to complete and submit your application at a later date.

Participants will be notified on Monday, November 5th, if their venture was selected to compete in the Social Venture Competition Finals.