Forbes Announces Contest That Will Be Largest Ever For Young Entrepreneurs
By Cherri Gregg
PHILADELPHIA (CBS) -- Forbes Magazine announced this week a million dollar contest for millennial entrepreneurs who want to the change the world. The goal is social change.
The Change the World Competition will be the largest ever for young social entrepreneurs.
"We have one million dollars up for grabs for both not-for-profit social charities and also socially minded for-profit businesses," says Randall Lane, Editor of Forbes magazine.
He says five to six finalists will each win a $100,000 cash prize as a grant or investment, with one winning organization winning $500,000 of unrestricted money.
"What we're trying to do is encourage social entrepreneurship, both non-for-profits thinking like entrepreneurs in how you solve problems, but also for-profit business to have a social mission and make the world a better place while they are making money and employing people," says Lane.
Applicants must be under 30. Finalists will be announced at the 30 under 30 Summit in Philadelphia in October.
The deadline to apply is August 26th. For more details, visit: www.forbes.com/30under30/#/