UVU To Present Second Annual Social Innovation Incubator Contest To Entrepreneurs, Nonprofits And Students
March 4, 2013
For Immediate Release
University Marketing & Communications: Mike Rigert (801) 863-6807
Written by: Mike Rigert (801) 863-6807
Utah Valley University will offer nonprofit and for-profit organizations, entrepreneurs and UVU students an opportunity to qualify for professional start-up assistance through its second annual Social Innovation Incubator competition.
By participating in the competition, about a dozen social entrepreneurs will earn a spot in a three-week social innovation workshop during which they will receive training from experts in a variety of topics, including business model development, grant writing, mission marketization, performance management, board development, fundraising and social innovation. Finalists will also compete for one of up to two start-up grants of $5,000.
“We had a terrific pool of applicants last year, and awarded a seed grant to a great organization in Teens Act,” said Luke Peterson, UVU’s director of corporate and community partnerships. “This year will only be bigger and better. We will offer more one-on-one consultation to participants, and more time and flexibility to put together their pitches.”
The contest is open to both nonprofit and for-profit organizations whose campaigns are primarily focused on social innovation. The competition aims to benefit new ventures and UVU students, but also established nonprofit organizations that are introducing a new initiative or making a shift in operations.
“We would like to see more established nonprofits apply for enrollment in the program this year. The incubator can be of great help to those looking to establish new funding streams beyond grants and donations,” said Peterson.
The submission deadline for the second annual Social Innovation Incubator is April 30.
UVU students interested in submitting an idea to the competition may contact Peterson to schedule a pre-competition consultation.
“There are a lot of social organizations with good ideas, but that lack specific training in areas critical to success,” Peterson said. “Those are the organizations we are primarily targeting here. The Social Innovation Incubator will provide critical support to innovators whose concepts hold potential for significant social impact and student engagement.”
Those organizations selected for the workshops will begin their three-week training in August. Upon completion of the workshops, finalists will pitch their refined plan to a panel of experienced funders and entrepreneurs, and the panel will award up to two $5,000 start-up grants. Finalists also will receive access to UVU’s institutional resources and allotted office space at UVU’s Business Resource Center.
Utah Valley University is located in Orem, Utah, and is home to more than 30,000 students. UVU began as a vocational school during World War II, and in the seven decades since has evolved into a technical school, community school, state college and, finally, a comprehensive regional teaching university. UVU is one of Utah’s largest institutions of higher learning and offers programs ranging from career training to high-demand master degrees, with emphasis on undergraduate education.