| What is a social enterprise plan competition? |
Northern Karnataka needs jobs to stimulate economic growth and address various social issues. Jobs are created by new enterprises, which are founded and launched by entrepreneurs who have good ideas, drive, and are willing to work hard. But more importantly, these market-based social enterprises will also focus on substantially solving social issues.
Social enterprise plan competitions have been held by various organizations worldwide with great success. Although this competition is different in focus from a business plan completion, TechnoServe Inc. has designed and managed competitions in Latin American countries and has launched similar programs throughout Africa in 2008. The results of past TechnoServe competitions have been overwhelming. Almost 200 hundred businesses have been launched or expanded. These businesses have created more than 900 jobs and have achieved more than US$10 million in annual sales revenues.
Enrich Engage Enable’s primary objectives are to stimulate new and sustainable social entrepreneurial activity and train entrepreneurs on the process of developing successful social enterprises. The program works as a catalyst to increasing long-term social impact and employment opportunities by fostering investment and growth in high potential market-based social enterprise ideas.
If you are reading this material it is likely that you already have a social enterprise idea you would like to transform into a successful social enterprise, and you are interested in benefiting from available resources. This is why we give you some advice: make the most of this opportunity to take your social enterprise concept to the next level! |
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| What is a social enterprise plan and why is it necessary? |
| A social enterprise plan is a written summary of what a social enterprise intends to achieve and how it intends to achieve it. It can serve as a risk assessment tool, an operational guide, and a measure of progress and success. |
| Some of the questions social enterprise plans address include: |
- Is the idea feasible?
- Who will be the product’s clients and how big is the target market?
- Does the management team understand the market in which it operates?
- What additional abilities and expertise are needed to be successful?
- Does the concept have high growth potential?
- Is the return on investment enough to attract investors?
- Is the social impact measurable and sustainable?
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| Social enterprise plans are necessary because they: |
- Force social entrepreneurs to plan ahead and think through potential obstacles and risks the social enterprise will face
- Help social entrepreneurs identify their target markets, price strategies, competitive environments, and competitive advantages
- Allow social entrepreneurs to clearly present their business concepts and management capabilities to potential investors
- Give investors and business leaders a clear sense of the level of investment needed and the likelihood of returns and at what level
- Provide the social entrepreneur an efficient “how” to guide for turning the idea into a real business
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| Potential readers of the social enterprise plan include: |
- The founding team
- The board of directors
- Potential investors or financiers
- Potential employees
- Partners and consultants
- Suppliers
- Distributors
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| How do I get involved as a stakeholder (Mentor, Trainer, Business Development Service Provider)? |
| Please contact Anoop Rathod at arathod@tnsindia.org |
| What are the specific resources the program offers? |
| The resources available during the core of the program (phases II) include: |
- Training workshops on social enterprise writing and development
- Training workshops on presentation development and delivery
- A social enterprise plan manual and instruction booklet
- Social enterprise related course work with practical and academic experts
- An industry specific conference
- A one-on-one mentor
- Networking events
- The Enrich Engage Enable web site
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| Who can participate? |
| In order to be eligible to participate in the Enrich Engage Enable social enterprise plan competition a person must meet all of the following criteria as of 1st December, 2008: |
- Be an Indian citizen
- Be 25 years of age or older
- Possess working knowledge of English and computers
- Propose a new market-based social enterprise that will be based in Northern Karnataka or an expansion on or modification of an existing social enterprise that is based in Northern Karnataka.
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| The following rules about who can participate also apply: |
- Ideas can be submitted by individuals or by a group. If an idea is submitted by a group, all group members must meet all of the above stated criteria
- Each idea may be submitted only once
- Only one person per application may participate in training sessions, events, mentor meetings and any other aspect of the competition. The same person from any one social enterprise must attend the entire program from beginning to end. The only exceptions that may be made will be by mentors, who may agree in advance to meet with additional members of a management team
- The organizers are not responsible for any other costs (i.e. lodging, food, further transportation) that a participant may incur in order to attend any of the competition events
- No employee of any of the organizations associated with the competition is permitted to participate (visit the ‘Program Supporters’ tab on the website to see a list of Enrich Engage Enable supporting companies)
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| How and when can I apply? |
The application will be available starting 1st December, 2008. The application can be downloaded in Microsoft Word format here, filled out online here or picked up at the Deshpande Foundation located at:
BVB College of Engineering
STEP Building
Hubli, Karnataka 580 031
Applicants must complete and submit an official application form by 5.00 p.m. on 4th January, 2009. |
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