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The Facebook Social Entrepreneurship Award

The Facebook Social Entrepreneurship Award for One Young World Ambassadors – Facebook is the world’s largest social network and connects over 2 billion people monthly. As part of its mission to give people the power to build community and bring the world closer together, it connects people on the platform with over 70 million businesses. To better support cause-driven businesses, Facebook has partnered with One Young World to launch the Facebook Social Entrepreneurship Award.

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On 5 October at the One Young World 2017 Summit in Bogotá, Colombia, Facebook’s VP of Global Marketing Solutions, Carolyn Everson, announced the Facebook Social Entrepreneurship Award and officially announced the opening of applications for One Young World Ambassadors to apply. In line with the company’s mission, the award will present a prize to 4 teams or individual social entrepreneurs with advertising credits and Facebook mentors who will share marketing expertise.

Requirements:

  • One Young World Ambassadors exclusively. Ambassadors can apply as individuals or teams in groups (up to 5 individuals).
  • Those with scalable businesses.
  • Those who operate businesses that address a major social and/or economic issue in their region and empowers their community.
    • The Participant and each team member (if any) must lead or be employed by a non-profit charity or a for-profit business legal entity, which is registered and/or formed under applicable laws in their jurisdiction
  • Ambassadors must live and operate enterprises within Facebook’s 4 regions: North America, EMEA, Asia Pacific and Latin America.
  • Government officials, political figures, and businesses politically affiliated (all as determined by Facebook and One Young World in its sole discretion) are not eligible to participate in the Contest.

Award

  • ARV of each Regional Prize: $5,000. ARV of Grand Prize $50,000. Total ARV $70,000.

Facebook Social Entrepreneurship Award

PRIZES AND APPROXIMATE RETAIL VALUE (“ARV”):


Regional Prize: The Participant with the highest score in their respective Regions (as described in The Finalist Entry Period and Judging Phase subsection above), subject to verification, will receive the following prize package: (i) Facebook ad credit in the amount of Five Thousand US Dollars (US$5,000.00) and (ii) access to a mentor who works with/for Facebook which has no ARV. The total ARV is five thousand U.S. dollars (USD$5,000).

Grand Prize: The Participant with the highest score in the Grand Prize Award Judging (as described in The Finalist Entry Period and Judging Phase subsection above), subject to verification, will receive the following prize package in addition to the Regional Prize: (i) Facebook ad credit in the amount of Fifty Thousand US Dollars (US$50,000.00) and (ii) access to an additional mentor who works for/with Facebook which has no ARV. The total ARV is fifty thousand U.S. dollars (USD$50,000)

Total ARV of all prizes in this Contest is: USD$70,000

Selection criteria:

The Facebook Mentors will also serve as judges for the Prize Winners.

Candidates will be assessed based on:

  • Probability of increased impact following ad credit investment – 40%
  • Evidence of social impact – 30%
  • Innovation/originality – 30%

Timeline – Facebook Social Entrepreneurship Award

  • Deadline: 17 November, 18:00 GMT
  • End of November 2017: Shortlisted candidates are contacted. Shortlisted candidates must submit a video.
  • Early December 2017: Mentors select final Winners

For More Details/Information visit the Official Webpage of the Facebook Social Award. For more post like this click here.

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