3rd Annual MFBIC will begin in Winter 2012
Around the world, people like you explore countless new business concepts every day, including creative business ideas that might help people in need reach their fullest potential. The MFBIC’s goal is to identify, reward and promote the best of these life-changing ideas. Please submit a 1 page outline for a plausible Microfinancable business. MFBIC entries are judged by a panel of experts and, when possible, vetted in the very community that they are intended to serve. Upon submission, all entries become property of the Eric C. Douglass Centre for Entrepreneurial Studies.
The only limit to the range of projects eligible for the award is the ambition and imagination of each contestant.
No matter what your specialty may be, or whether you work in a team or as an individual, we challenge you to unleash your energy and develop a Microfinance plan to create entrepreneurial job opportunities.
- Entries must be consistent with a business that can be realistically started in the chosen community.
- While the entry must be a viable business opportunity for the community, it may be modeled after a successful business idea in a similar area.
- The business Idea must have a start up budget no greater than $5000 dollars as per typical Micro-finance loan availability.
Judging Criteria – General
Your 1 page submission will be judged upon the following criteria
- Originality of idea.
- Overall likelihood of achieving demonstrable results.
- Evidence of demand for the venture in the marketplace
3. Social Impact Assessment
- Reach, depth and quality of social impact.
4. Financial Viability and Sustainability
- Fund-ability: the potential for the venture to receive financial support from a Micro-finance institution.