Social Venture Competition
The Social Venture Competition celebrates and rewards students who have developed solutions and plans intended to impact society’s biggest problems. Turn your IDEAS INTO IMPACT by submitting your proposal to this showcase 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
- Be less than one year old with less than $100,000 in prior funding
- Include at least one UCF student on the founding team (only students may present during the event)
- The competition is open to all full-time and part-time undergraduate and graduate students enrolled at UCF during the 2017-2018 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 answer 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.
- Because this is a new venture competition, no ventures founded one year or more prior to the competition are eligible to compete.
- New venture proposals that have earned scholarship awards in a previous UCF Social Venture Competition are not eligible to participate.
- 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 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
- 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
- The conditions (i.e. regulatory, tax, political) are favorable
- Market need, size of opportunity, competitive landscape, and potential risks are identified and manageable
- 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
- The plan provides a clear plan to deliver high performance
- The plan takes a practical approach to milestones and organizational outcome measurement
- The team was persuasive in communicating the idea and its potential
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.
Important Dates, Times, and Locations
If selected for the finals, participants will be given eight minutes to present their ideas to a panel of judges. Presentations should include a description of the societal problem, their proposed solution, and a financially sustainable and scalable business model to deliver the solution. After the presentation, each team will have up to four minutes to respond to questions from the judges.
Prizes and Rewards
Applications for this event are due on Sunday, Nov. 5, 2017. Eight social venture proposals will be selected from these applicants and invited to present at the Social Ventures Competition Finals on Wednesday, Nov. 15, 2017. Scholarship awards sponsored by State Farm Insurance will be distributed based on evaluations from the competition’s judges as follows:
1st Place wins up to $2,000.00 in funding.
2nd Place wins up to $1,200.00 in funding.
3rd Places wins up to $750.00 in funding.
4th Place wins up to $300.00 in funding.
Our Honoral Mention will receive $250 in funding.
Interested competitors may complete an application by first creating an account using the link to the application portal at the top of this page, and then 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 Friday, November 10, the results of the initial round of judging, which will indicate if their venture was or was not selected to compete in the Social Venture Competition Finals.