Banks will be asked to consider the following judging criteria when selecting winners of their sponsored $1,000 awards:
- Innovation and Creativity: Does the idea or project introduce creative elements or methods to positively benefit society or a specific community in ways that have not been done before? For example, the project might use a new approach to address a local problem, utilize creative methods to raise awareness of a problem, raise money in innovative ways for a specific cause, or entail innovative products or strategies to engage the community and generate funds for its activities.
- Social Impact: It is important the venture has or will have a positive impact on society. Some innovations will be in design phase with no proven impact, while others will already have proven success. The potential scale and impact of all ideas and projects will be taken into consideration regardless of what stage the venture idea is in. If you are in design phase, the judges will consider how you plan to grow, replicate, and reach big goals.
- Sustainability: For a venture to be truly effective, it must have a thorough and thoughtful plan for how it will acquire financial and other bases of support for the long-term. In other words, the project must have an excellent strategy for creating ongoing, positive benefit for society as well as a sound plan for transitioning leadership and funding its activities even after any seed money has been exhausted.
- Articulation and Communication: The venture team must be able to communicate their idea clearly and persuasively through the written entry, video submission (if invited), and the pitch in the National Pitch Off (if selected as a national finalist).
- 2nd round video submission: Only finalists from the 1st competition round will be invited to submit video entries. The judges will take into account the quality of the video pitching and how you are able to frame your idea in the 1-2 minute videos. While online comments, tweets and Facebook “likes”, shares, etc. are not required we encourage you to share your video with others. We will give special consideration to those that engage their communities through their videos.
All entries that meet the following criteria will be considered:
- All individuals or team members must be legal residents of the United States.
- All individuals or team members must be between the ages of 13-22 years old as of November 1, 2012.
- Entries must be submitted in English.
- Regional winners and finalists are allowed to re-apply for a chance to win a national prize.
- 2012′s 6 national finalists are not eligible to apply this year unless they are submitting a new Venture idea.
- There is no limit to the number of young people permitted on a team, but if a team’s venture is selected as a finalist to travel to Washington, D.C. only one (1) Team Leader will be sponsored for the trip.
- 1st round entries close at 11:59 p.m. on March 15th, 2013.
- Only those invited may be allowed to participate in the 2nd round of the competition and submit videos.
- Those qualified for the 2nd round, must submit a 1-3 minute video by 11:59 p.m. EST on March 31st, 2013. For more information on how to complete the video and entry form go to: “How to create and upload my video?”
- If selected as a winner of one of the $1,000 awards, participants must agree to use the award money for purposes related to their venture idea. Proof of expenses and receipts of expenses will be required. Youth Venture encourages investing $500 of the prize money to enroll in one of several online social entrepreneurship courses that will confer 2-12 college credit hours (up to one college semester’s worth!) to the team leader for venture design, launch and management (approximately $500 will cover the total costs of enrollment).
- All individuals and teams must have an adult Ally who will co-sign the entry form and agree to provide support for the venture if an award is won. An Ally is a non-controlling adult mentor who offers support and guidance to you and your venture. An Ally could be a parent, teacher, church or civic organization leader, etc. who is committed to helping the venture succeed.The Ally must be 21 years of age or over as of November 2012.
- Employees of Ashoka, Youth Venture, Inc., the Consumer Bankers Association, The Consumer Bankers Foundation, or sponsoring banks, as well as the immediate family (spouse, parents, siblings and children) and household members of each such employee are not eligible to enter the Competition – neither as the primary entrant nor as a member of the team. A sponsoring bank’s employees and their relatives are eligible for awards from a different sponsoring bank.
- If selected as a national finalist, participants must be available to travel to the Ashoka Future Forum and the Pitch Off in Washington, DC, on May 30-31, 2013. Participants who cannot attend the Pitch Off forfeit their prize. Any chosen winners under the age of 18 must have a parent or guardian accompany them to the Pitch Off.
- Entrants may not attempt to preach to or convert others to a particular religious faith and may not endorse, advocate for, or promote political parties or candidates for public office – directly or indirectly. Entrants must agree to the Youth Venture’s Conditions of Association in Exhibit A to the Official Rules.
- December 17: Competition launches and entrants can begin to submit their entry forms. Videos at this stage are optional.
- March 15: 1st round of entries closes.
- March 22: Finalists for the 2nd round are announced and invited to submit official video entry.
- March 31: 2nd round and Video submissions close.
- April 29: Regional and national winners are announced.
- May 30-31: Six national winners attend the Ashoka Future Forum and compete in the pitch-off event in DC for a chance to win an Audience Choice Award of $5,000 or the grand prize of $15,000!
Due to limited available funding and the goal of the organization of providing current benefits to youth programs, this grant must be used within one year or the grant will be revoked and a new grant will be made to other youth programs.