BASES Social E-Challenge
Melissa Miao, Co-Director BASES Social Entrepreneur’s Challenge
With the establishment of the Center for Social Innovation at Stanford’s Graduate School of Business, the formation of social innovation student groups, and the hosting of conferences in past years, there has been a widespread commitment to building a generation of social entrepreneurs at Stanford. More and more students are exploring how to use their business and entrepreneurial skills in revolutionizing the way we address social issues.
As a means for the Stanford community to actualize their desire to innovatively address these issues, BASES (Business Association of Stanford Engineering Students) is hosting a business plan competition for social entrepreneurs at Stanford – The BASES Social Entrepreneur’s Challenge. Following a similar model to the National Social Ventures Competition, the Social E-Challenge will evaluate plans that create a social return in addition to a financial return on investment. This competition, however, will be focused on the Stanford community, and resources will come from highly visible start-ups and venture philanthropy funds in Silicon Valley. Submission of a business plan in one competition does not preclude submission of the same plan to a different competition. But the Social E-Challenge is able to provide a more regional support structure.
Students will have the opportunity to present their ideas in front of a judging panel from directors of these foundations and venture philanthropy groups. The CEOs from groups such as The Tides Foundation and The Entrepreneurs Foundation, will be offering feedback based on their experience in developing socially innovative organizations. Other foundations being represented are just forming. The Draper Richards Foundation is a new venture philanthropy fund created by two VCs, Bill Draper and Robin Richards Donohoe, that will focus on seed grants for entrepreneurial non-profit ventures. "Our goal is to find the next great idea in non-profit. We want to support fantastic entrepreneurs and help them launch their new organizations," explains Jenny Shilling, Executive Director of the Draper Richards Foundation, Stanford GSB ’99.
The BASES Social E-Challenge will provide a support structure, through mentor relationships and workshops, for teams as they develop their business plans and eventually present these plans before the judging panel.
There are many socially innovative organizations that have stemmed from a simple business plan with a unique vision. One such organization, Ripple Effects, is an award-winning learning software company that helps children change social behavior to improve their academic performance and reduce involvement in drugs, violence and risky behaviors. Based in San Francisco, they were recognized at a Haas Berkeley social ventures competition in 2000, and efforts in building the company were accelerated soon afterwards. This is just an example of the kind of organization, along with Plugged In, Working Assets, and a number of other socially innovative groups that can be created from the collaboration of socially-minded entrepreneurs.
Stanford is an ideal environment to incubate innovations that stem from students who aspire to create social value. This is one of the motivations for the creation of this competition offering at least $10,000 in prizes. "BASES Social E-Challenge is a wonderful new addition to the social innovation and social entrepreneurship landscape at Stanford," supports Gordon Bloom, Faculty Affiliate, Center for Social Innovation, Stanford GSB.
The kickoff event will allow students from the GSB to interact with students from the School of Law, Education, Medicine, Engineering, and Humanities. This event for the BASES Social E-Challenge will be held on Tuesday, January 15th at Tresidder Union, Cypress Room at 5:00pm (food provided). This event will provide the details for the competition, and more importantly will allow students to connect with each other and learn about potential seed ideas they can help develop. The deadline to enter the BASES E-Challenge and Social E-Challenge is February 7th, 2002. More information is available at http://bases.stanford.edu/echallenge.html.
Use this opportunity to educate yourself on current issues, to explore new ventures, to collaborate with a diverse team – start understanding now what it means to be a social entrepreneur.