THE SOIN CHALLENGE 2017: AN OVERVIEW
THE 2017 SOCIAL INNOVATION COMPETITION
The 2017 Social Innovation Competition – SOIN challenge 2017 aims to find individuals, groups or organizations that have innovative ideas that can solve various urgent social, environmental and economic problems in Vietnam. These ideas can be solutions, technologies, products or services that will have a positive impact on society. The most brilliant of which will be supported by us in order to materialize their potential and create sustainable social enterprises.
The program also targets high school students to equip them with thinking, skills and inspiration so that they can become social entrepreneurs in the future.
Board of Organizers:
- Center for Social Initiatives Promotion (CSIP).
- IBE Resource Development and Consultancy Company.
- Wellspring International Bilingual School.
- For Vietnamese Stature Foundation.
- Social Innovations Soin.org.vn.
- Vietnam Social Entrepreneurship Empowerment and Development (VSEED).
- Platinum Sponsor: IPP.
- Gold, Silver and Bronze donors will continue to be updated.
The SOIN 2017 competition, reaching a national scale, consists of 2 main categories of prizes:
- Unlimited Social Innovation Category (SOIN unlimited): For individuals, groups or organizations (all participants must be above 18; groups must have 1-3 members):
01 First prize: 50,000,000 VND for an individual, or a group or an organization.
01 Second prize: 40,000,000 VND for an individual or a group or an organization.
01 Third prize: 30,000,000 VND for an individual or a group or an organization.
Junior Social Innovation Category (SOIN junior): For individuals or groups between the ages of 15-18 (each group must have between 1-3 members):
01 First Prize: 30,000,000 VND for the team & Scholarship of 50,000,000 VND from Wellspring International Bilingual School for each member.
02 Second Prize: 15,000,000 VND for the team & Scholarship of 20,000,000 VND from Wellspring International Bilingual School for each member.
03 Third Prize: 10,000,000 VND for the team & Scholarship of 10,000,000 VND from Wellspring International Bilingual School for each member.
- Professional support and Connection:
- Each idea will be posted on SOIN.org.vn, easily connecting it with mentors, investors, and other support resources.
- The 18 semi-finalists will receive professional training from CSIP for a period of up to 2 months so that they would be able to polish and finalize their ideas before the final stage of the competition.
- In addition to the the funding from our seeds foundation, the 3 best ideas will also receive SOIN’s two-month advanced training and counseling package after the competition will end in order to develop their ideas further. .
- Opportunity to connect with investors via Pitching Finals and companion consulting workshops.
There is no limitation on the social and environmental ideas we encourage to participate in the competition, however, the SOIN challenge 2017 favors initiatives focusing on the following topics:
– Nutrition for children.
– Education for children.
SOIN JUNIOR 2017
- September 15, 2017: Launching ceremony at Co-up Working Space, No 1 Luong Yen str, Ha Noi (together with SOIN2017 Unlimited) and Open registration
- October 15, 2017: Submission for Primary Screening (Deadline by 11:59pm)
- October 21, 2017: Announcement for Primary Screening results
- October 28, 2017 – November 25, 2017: Series of four (04) mentoring sessions
- October 28, 2017: Workshop 1 – Kickoff meeting + Understanding the issues (Half day)
- November 4, 2017: Workshop 2 – Company tour + Finance for Social Enterprises (Full day)
- November 11 , 2017: Workshop 3 – Meeting with experts + Marketing workshop (Half day)
- November 25, 2017: Workshop 4 – Excel the skills of an Elevator Pitch + Practice to Pitch in a group (Half day)
- January 03, 2018: Final business plan and presentation slides due
- January 13, 2018: Finale Pitching Day
II. ELIGIBILITY: The competition is open to secondary students from grade 9 to 12 (15 to 18 years of age) in Vietnam. Students can work independently or work in teams of up to three members. The language for competition is English, contestants must be able to speak and write in English well enough.
III. AWARDS AND PRIZES
One Grand prize: VND 30,000,000/ team and Wellspring scholarship of 50,000,000 VND/participant
Two 2nd prizes: VND 15,000,000/ team and Wellspring scholarship of 20,000,000 VND/participant
Three 3rd prizes: VND 10,000,000/ team and Wellspring scholarship of 10,000,000 VND/participant
PROCEDURE AND CRITERIA:
The competition consists of 3 stages: Primary screening, Mentoring and Finale.
Each participant/team is required to create an account on www.soin.org.vn and register participants’ details, then answer several questions. In addition, participants must submit a Video Pitch (via a link to youtube) of maximum 3 minutes in English to describe your business idea(s). It should provide a quick overview of your business idea(s), your understanding of the issues, and the feasibility of your business idea(s).
The eight (08) finalists will advance to the final competition. Finalists will be announced on October 21st, 2017. Notifications will be made via email.
The finalists will participate in a series of mentoring events that are designed to help them navigate the entrepreneurial process. They will have opportunities to network with seasoned entrepreneurs and industry experts, as well as to explore the internal operations of real businesses.
The events are mandatory for the finalists. Selected participants are responsible for their traveling expenses. For full day events, lunches and refreshments will be served.
Based on the knowledge gained from mentoring events, participants are expected to develop their business plans and presentation slides accordingly. Final submission of the business plans and presentation slides is due on January 03, 2018.
The finale is organized in the format of a pitch competition. Each team/participant will be given ten (10) minutes to present their business plan followed by a ten (10) minute question-and-answer session with the panel of judges, the audience and other contestants. The finale is scheduled on January 13, 2018. Dress code: business formal.