Apply for $20,000 Rockefeller Foundation-Acumen Student Social Innovation Challenge 2019

Apply for $20,000 Rockefeller Foundation-Acumen Student Social Innovation Challenge 2019

Deadline: October 15, 2019.

Acumen, with the support of the The Rockefeller Foundation, is equipping student innovators to solve problems associated with poverty through a global challenge platform. Student teams from around the world are coming together to explore areas of opportunity, develop ideas, and pitch for funding and mentor-ship.

In addition to supporting on campus competitions, Acumen and The Rockefeller Foundation are hosting a Virtual Challenge with the aim of inspiring and equipping students from all over the world with the skills and support to solve problems associated with poverty.

Phases

Phase 1 — All Participants: Register for Lean Startup and Submit Your Idea

• Register for the Lean Startup online course before October 15, 2019
• Complete the course and submit your social venture idea before November 26, 2019
• Top teams will be invited to join the Student Social Enterprise Accelerator

Phase 2 — Finalists: Student Social Enterprise Accelerator

• Our online Student Social Enterprise Accelerator will begin on January 27, 2020
• Develop your idea with one-on-one coaching, peer mentoring, and case studies
• Pitch your social venture to a panel of judges before March 13, 2020

Phase 3 — Winners: Receive Funding and Join the Community of Social Innovators

• Winning teams will receive up to $20,000 from a funding pool of $100,000
• Winners will also be invited to join Acumen’s Community of Social Innovators to receive ongoing support from a network of Acumen Fellows, social entrepreneurs, and change-makers

Eligibility

Anyone can participate in the Virtual Challenge (and compete for $20,000 in funding per team!), so long as you meet the following eligibility and participation requirements:

• Form a team of two people or more. At least one team member must be actively enrolled at a higher education institution.**
• Complete 4 of the 5 assignments in the Lean Startup course (including the final assignment) and submit an application for the Accelerator program. At least two team members must complete the Lean Startup course.
• Interview for and be selected to participate in the Student Social Enterprise Accelerator program.
• Participate in at least 7 of the 8 Accelerator Learning Labs and submit all assignments, including a final pitch deck. The pitch deck must include a budget for the prize funding and a three-month work plan including key milestones and dates.

**Enrollment at a higher education institution is defined as taking one or more courses that earn credit towards an academic degree

Read also: Chivas Venture $1M Startup Competition 2020 for Social Entrepreneurs

JUDGING CRITERIA

Acumen’s panel of judges will be looking for solutions that demonstrate:

• Understanding of the customer problem you’re trying to solve, illustrated through customer interviews and feedback
• A minimum viable product for your solution that has tested customer willingness to pay
• Defined theory of change with clear social impact measurement to quantify progress towards theory of change
• Strong value proposition in the context of the competitive landscape and system
• Clearly defined financial model that demonstrates understanding of an obtainable target market and a pathway to financial sustainability
• Submitted ideas for consideration will need to engage or improve the lives of the poor
• Submitted ideas for consideration can include for-profit business models or non-profit business models
• Solutions that focus on serving marginalized, vulnerable, and low-income populations in the following sectors will be prioritized: energy access, healthcare, financial inclusion, workforce development, and food systems/agriculture

Apply Now

For more info visit Rockefeller Foundation-Acumen Student Social Innovation Challenge 2019