Forbes Announces the ‘Under 30 Summit’ for Social Entrepreneurs with Grand prize of $500,000

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“We’re about to tap the power of the world’s best young entrepreneurs, mix it with the potent Forbes Under 30 community, and put a dent in the world.

Forbes’ $1 Million Under 30 Change the World Competition – the biggest-ever for young social entrepreneurs — is designed to spur a generation of social entrepreneurs to put forward their best, most scalable projects. Five or six of these social entrepreneurs, who must be under 30 years old, will win a $100,000 award designed to accelerate their efforts. These semi-finalists will then come to the Under 30 Summit in Philadelphia this October to compete on-stage in front of 2,000 of the world’s best young entrepreneurs and game-changers. One winner will leave town with a grand prize award of at least $500,000.

The definition of what makes a social entrepreneur is evolving, and this contest reflects that: it’s open to young leaders of both not-for-profit and for-profit organizations. Great non-profits now operate like entrepreneurs – social problem-solvers need to embrace a lean, results-based mindset. Similarly, many for-profit businesses now have a social mission: there’s even an incorporation classification, a B corp, that recognizes companies devoted to helping society as well as shareholders.

We’ll grant money to the former, or invest in the latter – we’re just looking for people who can deliver an ROI, as measured in good, for our $1 million, whatever their model. And while we’re especially keen to see breakthrough results in education, health, sustainability and extreme poverty, we’re open to concepts in any area of social good.

Applicants will find themselves amid one the best partnership teams ever assembled in the area of social entrepreneurship. Our five funders (in addition to a media grant from Forbes) represent the very best in innovative foundation work and entrepreneurial zeal: the Schusterman Family Foundation, the Case Foundation, the Pratt Foundation, the Keywell Foundation and billionaire entrepreneur and philanthropist Bob Duggan. Note that all these financial sources stem from fortunes made over the past 50 years – these groups understand the power of entrepreneurship and now empower those same skill sets to advance the public good.”

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