The EIB Institute is calling applications for Social Innovation Tournament 2021 to recognize and support the best European social entrepreneurs. It promotes innovative ideas and rewards initiatives that contribute to creating social, ethical, or environmental impact.
The Social Innovation Tournament established by the EIB Institute is the flagship initiative of the Social Programme. The Tournament seeks to promote the generation of innovative ideas and identify/reward opportunities promising substantial societal benefits or demonstrating best practices with tangible, scalable outcomes.
In 2021, the Special Category 1st and 2nd Prizes will be awarded to projects addressing the topic of sustainable living. Entrance to the Competition is FREE!
A Selection Committee comprised mainly of EIB Group experts in innovation, environment and other relevant disciplines selects up to 15 projects to proceed to the 2nd round. The finalists, of which at least four should also qualify for the Special Category Prize, are announced and invited to a tailor-made training programme (Mentoring Bootcamp, e-training on pitching, one-to-one coaching sessions, and Rehearsal Bootcamp) to provide them with the necessary guidance for the finalization of their proposals. In 2021, the Special Category Prize will go to projects focusing on sustainable living.
- The 15 Finalists will compete for a 1st prize of €75 000 and a 2nd prize of €30 000 in the two categories, the General Category and the Special Category (in 2021 sustainable living).
- They will also compete for the Audience Choice Award of €10 000 successfully created in 2020.
- The Tournament is open to individuals or teams from (or residing in) European Union Member States, Candidate and Potential Candidate countries, and EFTA countries whose proposals are to be implemented in at least one of these countries.
- The EIB Institute Tournament aims to attract interest from both not-for-profit and for-profit organizations, mainly from young entrepreneurs and social enterprises, corporate responsibility departments of private sector companies of any size, NGOs and government or local government entities and university communities. Entries from student teams are also welcome.
- Submissions can be at different stages of the project cycle. Proposals can be innovative ideas which could be implemented within a reasonable time frame and have substantial benefits for society, or already implemented innovative solutions with tangible outcomes in terms of societal impact which could serve as best practices and replicable models. All submissions must commit to using potential awards for the purpose of their proposal.
Proposals must comply with the Tournament requirements. In the 1st round, proposals will be screened on the basis of their clarity and the way the summary answers questions such as:
- What is/are the social and environmental (societal) problem(s) that you seek to solve?
- What stage is your project at?
- What difference does your project make in solving the problem(s)?
- Who is benefiting from your solution and how?
- What are your actual/expected main funding sources? Can your project generate recurrent revenues? What is your value proposition to investors?
- How would you spend the prize money on the project if you win the competition?
How are applications to be submitted?
The application package must include:
- The completed application form (Word file);
- The financial template (Excel file);
- A scheduled interview. All applicants must complete a seven-minute video interview before they can enter the first round. The seven-minute video interview will be cancelled if the application package is incomplete or does not meet all the eligibility criteria. Please make sure you have good technical conditions before the video call.
To learn more about Video Interview, visit FAQs section.
For more information, visit https://institute.eib.org/social-innovation-tournament-2/