Forbes Under 30 Summit: $1 Million Change the World Competitions
Closed
Forbes Change the World For Profit Global Competition
Forbes Change the World Nonprofit Competition
Forbes Change the World For Profit Global Competition
Deadline
Sep 12, 2016, 11:59 PM EDT
Closed
Forbes Change the World Nonprofit Competition
Launch
Aug 15, 2016, 10:00 AM EDT
Deadline
Sep 12, 2016, 11:59 PM EDT
Closed
The Forbes Under 30 Summit, the world’s greatest gathering of young entrepreneurs and game-changers, is more than tripling in size and scope in 2016. From October 16-19th, over 5,000 of the planet’s current and future leaders in every major field will converge in Boston across 5 interconnected stages, encompassing innovation in Science and Technology, Finance and Investing, Media and Creativity, and Policy and Social Good, as well as an All Access stage for Forbes 30 Under 30 honorees.
About the Forbes $500,000 Change the World For Profit Global Competition
Rough Draft Ventures (powered by General Catalyst) and Ashton Kutcher and Guy Oseary, Co-Founders of Sound Ventures, may each invest $100,000 towards the winning for profit company, for a total of $200,000 for the top startup. In addition, Rough Draft Ventures may award $25,000 to each of the three runners up. Forbes is offering $225,000 in an in-kind media grant, bringing the total prize to $500,000.
Ashton Kutcher, Guy Oseary and Forbes have committed to a three-year partnership (through 2018) to host for profit competitions for entrepreneurs under the age of 30 who have disruptive and scalable ideas with the potential to change the world.
Ashton Kutcher, Guy Oseary and Forbes have committed to a three-year partnership (through 2018) to host for profit competitions for entrepreneurs under the age of 30 who have disruptive and scalable ideas with the potential to change the world.
About the Forbes $500,000 Change the World Nonprofit Competition
The Schusterman Foundation and Forbes are partnering to host their second nonprofit competition. As part of this partnership, The Schusterman Foundation will give cash grants of $125,000 – $25,000 to each of the three runners up – and $50,000 to the winner. Forbes will offer a $375,000 in-kind media grant to the winner. The competition calls on U.S.-based social entrepreneurs whose goal is to advance solutions that address education challenges.
The Schusterman Foundation and Forbes are seeking entrepreneurs who can spark social change, in particular seeking PK-12 solutions for schools in low-income and urban communities, working in the following areas:
•Teacher development and growth including teacher preparation, professional learning
•Curriculum and assessment solutions
•School redesign models
•Early Childhood
•High School and College Success
•Leadership Development, particularly for increasing the diversity of leaders of color in education
•STEM
•Parent and Teacher Voices
The Schusterman Foundation and Forbes are seeking entrepreneurs who can spark social change, in particular seeking PK-12 solutions for schools in low-income and urban communities, working in the following areas:
•Teacher development and growth including teacher preparation, professional learning
•Curriculum and assessment solutions
•School redesign models
•Early Childhood
•High School and College Success
•Leadership Development, particularly for increasing the diversity of leaders of color in education
•STEM
•Parent and Teacher Voices
Eight finalists – four from the for profit and four from the nonprofit competitions – will compete on stage and pitch their business ideas at the Forbes Under 30 Summit in Boston on October 17 and 18, 2016, in front of 2,000 world-class mentors and the best young entrepreneurs and game-changers in the world, as culled from the Forbes 30 Under 30 lists.
All submissions must be submitted on YouNoodle.com. Applications will be screened by Boston College’s Shea Center for Entrepreneurship in the Carroll School of Management and the Center for Social Innovation in the School of Social Work. The finalists will be announced in September.
All submissions must be submitted on YouNoodle.com. Applications will be screened by Boston College’s Shea Center for Entrepreneurship in the Carroll School of Management and the Center for Social Innovation in the School of Social Work. The finalists will be announced in September.
Submission Requirements
The competition submission consists of questions that require you to complete short answers, upload documents, and create short videos. Click on “Submit Entry” to register for the competition and to view and complete the submission form.
We encourage you to register for the competition as soon as possible and to make note of all submission requirements. We also suggest that you compile all components of the submission offline and then login to YouNoodle.com to upload and copy/paste your answers.
Submissions will be accepted beginning on August 15. The submission deadline is September 12, 2016 at 11:59PM Eastern Daylight Time. No late entries will be accepted. Please plan ahead. To avoid any technical issues with your browser, do not submit during the last few minutes.
Applicants who make the first cut-off will be asked for follow-up information. Finalists will be notified by October 1 and must be able to travel to Boston, Massachusetts from October 16-19, 2016 for the Forbes Under 30 Summit. A full pass to the Summit will be provided. International applicants need to be mindful of visa and other logistics issues.
We encourage you to register for the competition as soon as possible and to make note of all submission requirements. We also suggest that you compile all components of the submission offline and then login to YouNoodle.com to upload and copy/paste your answers.
Submissions will be accepted beginning on August 15. The submission deadline is September 12, 2016 at 11:59PM Eastern Daylight Time. No late entries will be accepted. Please plan ahead. To avoid any technical issues with your browser, do not submit during the last few minutes.
Applicants who make the first cut-off will be asked for follow-up information. Finalists will be notified by October 1 and must be able to travel to Boston, Massachusetts from October 16-19, 2016 for the Forbes Under 30 Summit. A full pass to the Summit will be provided. International applicants need to be mindful of visa and other logistics issues.
Judging Criteria
True to the competition’s name, this challenge seeks innovative models that attack big problems with solutions that are scalable. The competition is looking for exceptional teams executing bold ideas with the potential to make a huge impact.
Prizes
The competitions will award a total of $1,000,000 USD in cash and in-kind prizes.
FOR PROFIT Global Competition: $200,000 USD investment to overall for profit winner and $25,000 USD investment to three runners up. Forbes is offering $225,000 in an in-kind media grant to the winner. Winner and runners up will be announced on October 17, 2016.
NONPROFIT Competition: One cash grant of $50,000 USD to the overall winner and $25,000 to each of the three runners up. Forbes will provide a $375,000 in-kind media grant to the winner. Winner and runners up will be announced on October 18, 2016.
For Profit prizes:
For profit companies will receive their cash award in the form of an investment, in the form of equity at the same valuation and on the same terms as their current or previous funding round, or if no funding round is underway, in the form of a convertible note which shall convert into equity at the same terms as the next round of funding, when/if the company raises their next round of financing on terms to be decided. It is anticipated, the investment will be completed no later than 60 days following the announcement of the winner.
Nonprofit prizes:
Nonprofit will receive their cash award in the form of a grant or other charitable commitment (subject to the terms and conditions of the respective sponsoring organizations).
In-kind prizes:
In-kind awards, as part of the grand prize, will be given to the company outright, without any equity consideration.
FOR PROFIT Global Competition: $200,000 USD investment to overall for profit winner and $25,000 USD investment to three runners up. Forbes is offering $225,000 in an in-kind media grant to the winner. Winner and runners up will be announced on October 17, 2016.
NONPROFIT Competition: One cash grant of $50,000 USD to the overall winner and $25,000 to each of the three runners up. Forbes will provide a $375,000 in-kind media grant to the winner. Winner and runners up will be announced on October 18, 2016.
For Profit prizes:
For profit companies will receive their cash award in the form of an investment, in the form of equity at the same valuation and on the same terms as their current or previous funding round, or if no funding round is underway, in the form of a convertible note which shall convert into equity at the same terms as the next round of funding, when/if the company raises their next round of financing on terms to be decided. It is anticipated, the investment will be completed no later than 60 days following the announcement of the winner.
Nonprofit prizes:
Nonprofit will receive their cash award in the form of a grant or other charitable commitment (subject to the terms and conditions of the respective sponsoring organizations).
In-kind prizes:
In-kind awards, as part of the grand prize, will be given to the company outright, without any equity consideration.
Eligibility
FOR PROFIT Competition, the challenge is open to:
- Active entrepreneurs who are under the age of 30 at the time of the competition (i.e. born after October 20, 1986) who are a founder, co-founder or top executive of their organization.
- Only companies that already have teams, product in market and customers/revenues should apply. This is not a business plan contest, but rather one that will reward and accelerate those entrepreneurs already making a difference.
- Applicants from around the world; company applicants must be incorporated as a c-corporation in Delaware.
- The business of the company applicants must not be in violation of, and the terms of the investment must be in accordance with, the respective governing documents of General Catalyst and Sound Ventures.
NONPROFIT Competition, the challenge is open to:
- Active social entrepreneurs in the field of education who are under the age of 30 at the time of the competition (i.e. born after October 20, 1986) who are a founder, co-founder or top executive of their organization.
- Those who are already actively engaged in a social enterprise within education. This is not a business plan contest, but rather one that will reward and accelerate those entrepreneurs already making a difference
- Applicants must be U.S. based.
- Nonprofit social entrepreneurs.
- Active entrepreneurs who are under the age of 30 at the time of the competition (i.e. born after October 20, 1986) who are a founder, co-founder or top executive of their organization.
- Only companies that already have teams, product in market and customers/revenues should apply. This is not a business plan contest, but rather one that will reward and accelerate those entrepreneurs already making a difference.
- Applicants from around the world; company applicants must be incorporated as a c-corporation in Delaware.
- The business of the company applicants must not be in violation of, and the terms of the investment must be in accordance with, the respective governing documents of General Catalyst and Sound Ventures.
NONPROFIT Competition, the challenge is open to:
- Active social entrepreneurs in the field of education who are under the age of 30 at the time of the competition (i.e. born after October 20, 1986) who are a founder, co-founder or top executive of their organization.
- Those who are already actively engaged in a social enterprise within education. This is not a business plan contest, but rather one that will reward and accelerate those entrepreneurs already making a difference
- Applicants must be U.S. based.
- Nonprofit social entrepreneurs.
Rules
- All submissions must be completed on YouNoodle.com and are due on September 12, 2016 by 11:59PM Eastern Daylight Time. No late submissions will be accepted.
- Applicant must be a founder, co-founder or top executive of his/her organization and must be 30 years of age or younger. Any applicants born before October 20, 1986 will be deemed ineligible.
- All submissions and any presentation at the Forbes Under 30 Summit must be made in English. Any submissions not submitted in English will be deemed ineligible.
- Finalists must be available to travel to Boston, MA, USA on October 16-19, 2016 to participate in the Forbes Under 30 Summit.
- Applications will be retained; information and data will be accessed only by competition partners of the two global competitions and not sold or shared.
- Any applications will go through a process of due diligence; any application found to be misrepresentative, plagiarized, or sharing an idea that is not their own will be automatically disqualified.
- All ineligible applicants will be automatically removed from the competition with no recourse or reimbursement.
- No purchase or payment of any kind is necessary to enter or win the competition.
- Applicants must be 18 years or older.
- Applicant must be a founder, co-founder or top executive of his/her organization and must be 30 years of age or younger. Any applicants born before October 20, 1986 will be deemed ineligible.
- All submissions and any presentation at the Forbes Under 30 Summit must be made in English. Any submissions not submitted in English will be deemed ineligible.
- Finalists must be available to travel to Boston, MA, USA on October 16-19, 2016 to participate in the Forbes Under 30 Summit.
- Applications will be retained; information and data will be accessed only by competition partners of the two global competitions and not sold or shared.
- Any applications will go through a process of due diligence; any application found to be misrepresentative, plagiarized, or sharing an idea that is not their own will be automatically disqualified.
- All ineligible applicants will be automatically removed from the competition with no recourse or reimbursement.
- No purchase or payment of any kind is necessary to enter or win the competition.
- Applicants must be 18 years or older.