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Building the next generation of entrepreneurs |
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Building the next generation of entrepreneurs |
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The Stanford Social E-Challenge features a three stage selection process. Last year’s competition featured 90 entries, with around 20% advancing to the second round. Five teams are selected for the final round, where they will compete for a share of $50,000 in prize money. The final round judges determine the exact allocation of prize money.
Please check our eligibility guidelines before entering the Stanford Social E-Challenge.
Teams submit an executive summary up to 2 pages long. The executive summary describes the problem the venture seeks to address, execution plan, the team, and the social return on investment. The executive summaries are evaluated on the following criteria: concept & product, feasibility, financial sustainability, market, team, and social return on investment (SROI).
Read about the submission instructions and executive summary guidelines.
Several judges with a diverse set of expertise will evaluate each submission. Every attempt will be made to match judges and submissions with regard to the area of the venture.
The entries will be ranked by their total score and the top entries will advance to the second round. Teams will be notified of their status in the middle of March 2009. All teams will receive any written feedback the judges provide.
Teams that advance to the second round will be asked to submit a full business plan up to 20 pages long. The business plan should expand on the executive summary and provide a complete picture of the social venture. Again, teams should focus on social return on investment (how social impact is measured and qualitative and quantitative description), execution plans, and financial sustainability. We understand that no single template is appropriate for every kind of venture, but please refer to the Business Plan Guidelines page for more information regarding what should be included in the business plan.
The second round of judging also includes an in-person presentation in front of a panel of judges. Each team will have 10 minutes to pitch their idea to judges representing a variety of perspectives and with relevant experience in the same field as the venture. 15 minutes will be allotted for a question & answer period.
Each team must have at least one member of their team present for this portion of the second round judging. More information about the process will be made available in February to semifinalist teams.
Semifinalist teams will be able to select a mentor from a database provided by the Social E-Challenge team. Our mentors come from a wide spectrum of backgrounds ranging from IDEO to Change.org to McKinsey. Teams receive one-on-one help from their mentors throughout the month of March, in preparation for the second round of judging, and many team participants discover life-long mentors.
Teams that advance to the final round will have a chance to revise their business plans, incorporating the feedback they have received during the second round and from their mentors. Page limit is still kept at 20 pages.
All final round teams will give a 15 minute presentation followed by a 15 minute question & answer period in front of the same panel of judges.
More information about the third round presentations will be published in March.