Applications are now open for the Forbes Under 30 $1 million (One million Dollars) change world competition. The competition which is arguably the largest for social entrepreneurs will award a total prize money of $1 million to five or six finalist selected from a pool of competitors.
The competition is open to social entrepreneurs from around the world with disruptive and scalable ideas with a potential to change the world, potential applicants must have an existing and operational business and the prize money is expected to be used to accelerate the most promising ideas. The competition is open to both Non-profit and for-profit organization, owners of this businesses must not be above 30 years of age.
The total award for the competition will come both in cash and kind from sponsoring organization like The Charles and Lynn Schusterman Family Foundation, the Case Foundation, the Pratt Foundation, the Keywell Foundation and entrepreneur Bob Duggan, Forbes is also offering support with advertising grant in kind.
Nonprofits will receive their cash award in form of a grant or other charitable commitments subject to TC of the respective sponsoring organizations. For-profits organizations will receive their awards in the form of investments. Organizers have also made it known that the investment will be completed no later than 60 days following the announcement of the winner.
The five or six finalists will be awarded $100,000 USD (or equivalent) while the overall winner will receive $400,000 USD or equivalent. The finalists will be invited to participate in the impact lab where they will work with attendees to help them with problem solving and growth acceleration.
To apply for the competition, visit herox.com/Under30, click on “Submit Entry” to register and to view and complete the submission form. Deadline for submission is Wednesday, August 26, 2015 and the finalists will be announced in early September, before competing on the main stage at the Forbes Under 30 Summit on October 6.