impACT³ - The Competition
The pan-European student competition impACT³ encourages bachelor students in all fields of study, to become involved as not-for-profit entrepreneurs for seven weeks. With the slogan “Break the cliché — discover social entrepreneurship!” impACT³ offers the opportunity to acquire theoretical knowledge and practical skills for initiating and managing a social enterprise.
Teams of two to four participants are confronted with the challenge of identifying a social or environmental problem as well as designing and implementing an innovative solution for solving the problem or lessening its impact. Projects of the participating student teams should/will generate positive effects and have a recognizable positive impact for the public good, preferably using an entrepreneurial approach.
The available seed capital consists of 4 euros per person. Further sponsors and support may be sought by the student teams themselves from the civil society, private business or NGOs. During the competition phase the process of idea refinement, in particular its gradual implementation, can be documented by the teams on the website www.act-for-impact.net. The teams will be asked to measure the qualitative and quantitative outcomes and assess the impact of their work: short reports are the basis for the evaluation by the general public and a jury.
The best three teams will be awarded a total of 9.000 euros. These funds may be used as a cash injection to continue and expand the venture started, or they may support the development of team competencies and insight, for example, through participation in conferences, visits to social enterprises or similar activities.