Social Innovation Park

SIP-Schwab Social Entrepreneur of the Year Award 2008

What benefits come from being selected as
the "Social Entrepreneur of the Year" 2008?

Nationally
As the "Social Entrepreneur of the Year", the winner receives national recognition for his/her efforts through the media coverage received. This visibility also increases possible support at the national level for the winner of the competition.

The winner will be celebrated at a national ceremony.
The ceremony will bring together representatives of the corporate, public, academic, civil and media sectors, along with those who have participated in the competition.

Globally
The winner will be included in the Schwab Foundation network of social entrepreneurs. This includes access to a peer network of social entrepreneurs, special benefits such as pro-bono consulting services and scholarships to executive education courses at world-class institutions such as Harvard Business School, Stanford University and INSEAD.

The winner will be invited to the Asia regional meeting of the World Economic Forum and will be presented as the national winner on a special occasion during the regional summit.

Excellent finalists or winners under 40 will also be nominated to the Young Global Leaders network of the World Economic Forum.

Worldclass social entrepreneurs will be invited to join the global social entrepreneur community, which includes the possibility to be invited to the World Economic Forum’s Annual Meeting in Davos and to contribute to the Global Agenda Councils of the Forum.

Process of Search and Selection

DEADLINE EXTENDED!
Step 1 - First Round Candidates: Those interested in being considered as candidates complete the application form. The deadline for receiving these forms is September 8, 2008. Information gathered in the selection process will remain confidential.

Step 2 - Second Round Candidates:: After screening the initial applications, the Social Innovation Park and the Schwab Foundation for Social Entrepreneurship will invite candidates to submit further detailed information. This will include:
1) a copy of your CV or resume,
2) a recent evaluation report on your organization, preferably conducted by a recognized third party agency,
3) an income statement and balance sheet for the last 2-3 years, preferably audited by an external auditor

Step 3 - Semi-Finalists Selected: The Social Innovation Park, the Schwab Foundation and local experts review the information forms submitted by Second Round Candidates. Those who qualify are invited to be semi-finalists. At this stage, the foundations will gather further information through site visits to the candidate's organization and/or interviews with the candidate and key informants. This due dilligence step enables the selection of the finalists.

Step 4 - Finalists Selected: Following site visits, 3-5 finalists will be selected.

The 3-5 finalists will be invited to participate in the National celebration.

Step 5 - Announcing the Winner: A jury comprised of selected representatives of different sectors reviews all information collected on the finalists. Members of the jury will have no vested interest in the outcome of the selection. The winner will be announced and celebrated at a national ceremony to be held in November 2008 in Singapore.

Selection Criteria for the “Social Entrepreneur of the Year”

Please note that government personnel or public sector organizations will not be considered, nor will intermediary organisations, research institutions or foundations that seek to create social value through the provision of knowledge, or financial and/or technical support to community-based groups.

In order to be eligible, the organization has to be based in the Republic of Singapore.

The top 3 most important criteria to be considered a finalist are:

1. Innovation: The candidate has brought about social change by transforming traditional practice. Such transformation can have been achieved through

an innovative product or service,
the development of a different approach, or
a more determined or rigorous application of known technologies, ideas and approaches.

A salient characteristic of a social entrepreneur is coming up with a pattern-changing idea and implementing it successfully.

2. Sustainability: The candidate has generated the social conditions and/or institutions needed to sustain the initiative and is dedicating all of his/her time to it.

If set up as a non-profit entity, the organisation is achieving some degree of financial self-sustainability through fees or revenues or is engaged in creating mutually beneficial partnerships with business and/or the public sector. Where possible, economic incentives are embraced. In any case, there is a clear difference from traditional charity and a move towards community-based empowerment and sustainability. There is also a difference with traditional business.
If set up as a for-profit entity, the orientation toward social and environmental value creation predominates, with financial return treated as a secondary means to an end, rather than an end in itself.

3. Direct social impact: The candidate has founded, developed and implemented the entrepreneurial initiative directly, together with poor or marginalised beneficiaries and stakeholders. Impact manifests itself in quantifiable results and testimonials and is well documented. There are no significant negative externalities.

The jury will also consider the 2 criteria below in determining the winner:

4. Reach and Scope: The social entrepreneur’s initiative has spread beyond its initial context and has been adapted successfully to other settings in the country or internationally, either by the entrepreneur him/herself, or through others who have replicated or adapted elements of it.

5. Replicability: The initiative can be adapted to other regions of the world to solve similar problems. The entrepreneur is open to sharing with others the tools, approaches and techniques that are critical to the adaptation of the initiative.

The Application Process for Round One of the SIP- Schwab Social Entrepreneur of the Year Award have already begun! Apply now by emailing a completed application form to seoy@socialinnovationpark.org or mail it to 21 Serangoon North Ave 5, Ban Teck Han Building #04-04, Singapore 554864.