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The Entrepreneurship Fund was established Winter Quarter of 2012 to promote a spirit of entrepreneurship and innovation among the undergraduate student body at UC Davis. The fund’s focus is on social entrepreneurship: sound business ideas that are motivated not just by profit, but also by a desire to have a positive impact on the Davis community or society at large.
ASUCD is excited to launch a first-of-its-kind program where students empower other students to grow and develop their ideas for socially-conscious businesses. Students of all backgrounds and majors are encouraged to apply.
Undergraduates with interesting, innovative and original ideas for social entrepreneurship can receive up to $1500 towards launching or growing their business.
To be eligible, you must submit an online application explaining your business. Semi-finalists chosen from the pool of applicants will then present their idea to the selection committee, which is comprised of students, faculty and alumni. Chosen applicants will take part in a 10-week program that includes consulting assistance as well as access to workshops and seminars through the Child Family Institute for Innovation & Entrepreneurship at the Graduate School of Management. More information on social entrepreneurship, how write a business plan and how to give pitch presentations is provided below.
Things to consider before applying:
- How does my idea solve a “problem” that potential customers have?
- What market am I trying to reach and how do I know they are interested in my product?
- How does my business contribute to the Davis community or society at large?
- What resources am I lacking to be successful?
Deadlines for Winter ’13 Quarter
Application Deadline – February 11, 2013 12PM
Presentations to Selection Committee – The week of February 25, 2013
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Be on the lookout for some cool E-Fund events coming this year! Like us on Facebook and follow us on Twitter for updates on what’s happening around campus:
What is social entrepreneurship?
Social entrepreneurs recognize a social problem and use entrepreneurial principles to organize, create and manage a business venture that helps to achieve social change. While a typical business entrepreneur measures performance in profit and return, a social entrepreneur also focuses on creating social returns. Your idea may focus on a problem and use sound business principles to solve it, or you could have an idea for a great business and incorporate aspects of social benefit into its operation. How your business will address the issue is up to you, but the point is that its focus should be on more than profit alone.
What is a B-Corporation?
The “B” stands for benefit, as in a corporation that focuses not just on return on investment but also the benefit provided to society. While normal corporations are concerned with the interests of shareholders, B-Corps consider the interests of “stakeholders,’ or anyone that is affected by the operation of the firm. For more information, click here.
What is a business plan?
A business plan outlines the goals of your business, why you believe they are attainable, and what your plans are to achieve them. You can search google to learn more, or check out this business plan overview:
How should I prepare for my presentation to the selection committee?
When pitching a business idea, entrepreneurs typically prepare what is called a slide deck or business deck, which is simply a powerpoint presentation that outlines your business for potential investors or clients. This is very similar to the business plan but the presentation allows you to show your passion and enthusiasm for the project, as well as address any concerns your audience may have. Be aware that your presentation should address the aspects of your business that target a social issue or problem and how your business would help. You can find information on how to give start-up or venture capital presentations online and prepare by checking out the following resources:
The following is a presentation template that will help you create your powerpoint presentation.
Shark Tank is a reality TV show produced by ABC where entrepreneurs seek funding from five “sharks” or venture capitalists. While the presentation to the selection committee will not be like what you see on the show, watching a few episodes will give you a good idea of how you might want to prepare and what types of questions you might be asked. The show is available for free on Hulu:
http://www.hulu.com/shark-tank
