Empower Change MI, a partnership between Ford Motor Company Fund and Michigan Women Forward, will offer a continuum of programs and services to women (and a few good men) wishing to start or grow Social Venture Enterprises. Click here for the 2018-2019 timeline.
A social venture enterprise:
- fundamentally exists to solve a real community problem
- must focus on a product or service people will pay for
- must follow “No Margin, No Mission,” that is, while some profits may be sacrificed to serve the mission, the business must ultimately be sustainable
Concept Paper submission opens Wednesday, August 1, 2018 and closes Saturday, September 15, 2018 at 12:01 AM. Click on each highlighted category and review the questions to learn more about the different categories:
Ideation Track Profile: Do you have an idea that could change your community and the world?
Ideation: This 1-2 page paper focuses on the creative process of generating, developing and communicating your new ideas. The Ideation phase comprises all stages of a thought cycle from innovation to development to actualization.
Click here for the Ideation scoring rubric.
Launch Track Profile: Have you started an organization or business that will change your community, or even the world? Do you have proof it is a viable business idea and now you want to launch this company?
Launch: This 2-page paper focuses on bringing the original idea to fruition. There are six very important areas in this stage of bringing your business to market.
Click here for the Launch scoring rubric.
Growth Track Profile: A business that has the potential to scale significantly in size and revenue. A growth business can be attractive to outside investors. Examples of these are: 1) a technology-based startup that has the potential to be acquired or go public; 2) a retail or food establishment that can expand to multiple locations to become a chain or franchise; 3) a manufacturing business that has the capacity to grow its number of employees.
Growth: This 2-page concept paper will require that you provides insight into your current business and your strategy to take it to the next level both from a profit and a community impact perspective.
Click here for the Growth scoring rubric.
Prizes & Investments
1st Place Ideation: $2,500
1st Place Launch: $7,500 plus up to an optional $10,000 investment
1st Place Growth: $10,000 plus up to an optional $25,000 investment
Idea That Will Change The World (audience choice) $1,000
For more information about the 2018 pitch competition click here!
For more information contact Lori Wesby 313.365.2915 or firstname.lastname@example.org
Empower Change MI Partners
Business+Impact at University of Michigan Ross School of Business
University of Detroit Mercy - Center for Social Entrepreneurship
Belle Impact Fund