Biz Kid$ recently launched a new contest for kids, “Build Your Social Biz.” Sponsored by leading global organization Ernst & Young, LLP, the competition is a hunt for America’s most worthy, fledgling social entrepreneurs. The top prize is $3,000 and mentoring from an experienced business expert at Ernst & Young, LLP. Biz Kid$ is the Emmy Award winning and credit union funded public television series that teaches kids about money management and entrepreneurship.
“This is a great opportunity for credit unions to pass along to their members,” said Danielle Brown, who is the National Credit Union Foundation’s national coordinator for Biz Kid$.
Up until December 31, young business owners who have an idea for improving their community can capture that vision in a one-minute video and compete for cash prizes to fund their venture. The contest is open to existing businesses or enterprises that are still a gleam in an entrepreneur’s eye.
Social entrepreneurs are people who try to make a difference in the world with their business. They use their business structure or profits to effect a social, cultural or environmental change. The social biz is not a limited-period fundraising vehicle – it’s an actual business.
Participants fill out the online entry form and then upload a one-minute video pitch on why their project should win. Entries will not be judged by the quality of the video but by the presentation of the vision for their social enterprise.
Entries are due December 31, 2012. A panel of judges will cull the top five entrants, and the names will be posted on the Biz Kid$ website by mid-February. The winner will be chosen by popular vote, which will take place over four weeks. Winner will be announced by the end of March. First place will win $3,000 and a lunch with a special guest; runner up will win $1,500; and three honorable mentions will win $500 each. All finalists will be paired with an expert mentor chosen to fit the nature of their business.