Phase 1: Idea Validation
Phase 2: Development
Phase 3: Venture Launch
Consult with an Academy Navigator
To act as a catalyst for success, the Social Venture Academy connects each team with a student mentor, or navigator. Social Venture Academy navigators meet with teams to help them progress through the curriculum—idea validation, business model development, and launch. All navigators have a background in entrepreneurship, and many are MBA or MPA students with professional experience and insights. Navigators actively work with ventures to overcome their challenges, achieve their goals, and change our world for the better. Connecting with a Social Venture Academy navigator is the first step to receiving funding.
Student teams in the Social Venture Academy have the opportunity to present to representatives of the Ballard Center for Economic Self-Reliance who evaluate ventures based on the following investment criteria:
Throughout the pitching process, venture teams receive invaluable feedback from the Ballard Center advisors. Many are currently or have previously been involved with private equity or venture capital as a profession; this enables them to help ventures best position themselves to receive outside funding.
Funding opportunities fall into four categories. Best Idea is focused on early ideation and awards are $100 to $500. The next level is Best Product. This category is based on the founding team's ability to execute on their ideas and develop a working minimum viable product. Teams may receive $500 to $1,000. Best Venture is the following level. Successful teams will demonstrate solid market traction with well-developed operational plans for the entity. Teams may be awarded up to $5,000. Once awarded Best Venture, teams will be able to work with the judges to set milestone funding as the venture launches as generates revenue. This milestone funding is an additional $12,000. Teams are not competing against each other to receive this funding—all ventures that demonstrate high potential can receive award money in each phase.
Download the Social Venture Academy Handbook to get started:
Here is an example of a Best Venture level plan:
Here is a PowerPoint on how to calculate your Social ROI:
We also encourage students to participate in other social business competitions to gain exposure and funding for their ideas. Check out the following programs:
|Ballard Center for Economic Self-Reliance Brigham Young University, Marriott School 360 TNRB Provo, UT 84602 (801) 422-9009|