Social Entrepreneurship and Innovation Competition
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In June, 2005, YouthBridge and Washington University's Skandalaris Center each pledged $500,000 to fund a five-year initiative to develop a program to stimulate social entrepreneurship. The program, called the Social Entrepreneurship and Innovation Competition, is an opportunity for non-profits to learn business skills, collaborate, receive feedback and compete annually for more than $100,00 in awards. We invite other universities, institutions, community groups and foundations to join us in the SEIC as we search for innovative approaches to social problems.
The YouthBridge definition of social entrepreneurship is "using entrepreneurial skills to craft innovative processes, approaches, and solutions to help resolve social issues." [see more] Such new approaches are designed to enhance sustainability and increase capacity of mission-based social organizations beyond their traditional dependence on philanthropy and government subsidy by building capital and developing an earned income stream.
The SEIC competition:
- Is open to both new ventures and new activities by existing organizations
- Provides ongoing education
- Is free and open to all, not just participants in the competition
- Develops a framework for evaluation
- Engages judges, mentors, advisors, social investors and sponsors
- Cause ongoing social innovation that is measurable
- Creates a sustainable competition
For more information, contact Rex Reed, Executive Director for Community Relations, at rexr@youthbridge.org.