Social Business Champ is a global competition for idea stage social businesses that challenges University level students to design business solutions addressing pressing social issues.
Launched in 2014, Social Business Champ, today, has become one of the leading social business competition and it engages university students and social business leaders from around the world. The Competition encourages participants to generate timely solutions for acute social problems and launch their own social business ventures.
While funding for materializing the social business, the idea is a gain, Social Business Champ is something more than that. It creates an experiential learning opportunity – connecting and competing against top innovators, training and mentoring from the social business gurus, exposure to an extensive network of professionals and businesses, and the chance to get awarded by the father of social business – Professor Muhammad Yunus.
What’s in it for Winners?
- Award from Nobel peace prize winner Professor Muhammad Yunus.
- The opportunity to work with YY Goshti on launching own social businesses by accessing resources and networks.
- Access to social business accelerators and funds for resources to form valuable partnerships.
- Pro-bono business development & creative services.
Be The Change That You Wish To See In The World!
Social business is a cause-driven, for-profit, non-dividend business. In a social business, the investors/owners can gradually recoup the money invested, but cannot take any dividend beyond that point. Purpose of the investment is purely to achieve one or more social objectives through the operation of the company; no personal gain is desired by the investors. The company must cover all costs and make profit, at the same time achieve the social objective, such as, healthcare for the poor, housing for the poor, financial services for the poor, nutrition for malnourished children, providing safe drinking water, introducing renewable energy, etc. in a business way.
The impact of the business on people or environment, rather the amount of profit made in a given period measures the success of social business. Sustainability of the company indicates that it is running as a business. The objective of the company is to achieve social goal/s.
The 7 principles of Social Business
- Business objective will be to overcome poverty, or one or more problems (such as education, health, technology access, and environment) which threaten people and society; not profit maximization.
- Financial and economic sustainability.
- Investors get back their investment amount only. No dividend is given beyond investment money.
- When investment amount is paid back, company profit stays with the company for expansion and improvement.
- Environmentally conscious.
- Workforce gets market salary with better working conditions.
- …Do it with joy!
Social Business Youth Alliance (SBYA) is a global initiative where the youth of the world come together and start changing their communities. SBYA is a triple box set; a speaker-box to listen to your role models, a VR-box to learn from their experiences and a tool box to design solutions and lead through your own social business venture.
We exists to connect today’s generation of youth to social business and help them in building social businesses to transform their communities. The core of our model is to harness the power of young people, entrepreneurship and technology to put peoples life at ease in our communities.
Social Business Champ serves as a crib to nurture your baby like social business oriented thoughts to safety and make it adult like magnanimous. With proper nurture and growth, the competition is a platform for you to showcase your entrepreneurial skills and creativity to generate solutions for pressing social problems.
Entries will be open to all entrepreneurs, students and professionals between 18-30 years of age from around the world. Applicants can form a team of 2-4 members and submit the social business idea. From all entries judges will shortlist the mass amount of best ideas up to a minimum of 30 teams. These teams will get an opportunity to join a training session online on developing successful social business plans and they will be asked to submit a social business plan with video pitch. After screening the top 30 plans, Judges will select a minimum of 6 teams who will be eligible to join the final contest during Social Business Day celebrations.
Top teams will receive hands on training from mentors on social business designs and investor pitch. In a grandeur gesture, through this process, 6 teams will enter the final contest, facing the spot light of success. Teams will compete for the title and all essential resources offered by the organisers for their social business ideas via pitching in front of the Judges. Teams will have the opportunity to meet and network with the leading social business practitioners, alleged investors, and successful entrepreneurs as well. All finalists will be sported in a lime light fashion and will present plans in front of an audience and the panel of judges in the final presentation round. After this the Social Business Champs will declared by the Judges and they will receive the Award from Professor Muhammad Yunus, the father of Micro-credit and Social Business.
- The team must include university students in any area of study from all over the world.
- Each team should include 2-4 persons. Teammates can be from different institutions.
- The team should be named after their business plan.
- A team cannot enter with multiple ideas.
- Submitted plans should aim to be financially sustainable and scalable.
- The idea should address at least one social problem.
- Top teams need to build a working prototype before the final pitch.
- The social business idea can be aimed at creating social impact in anywhere in the world.