Summer 2007

In Brief

Social Venture Contest Thrives


The Global Social Venture Competition, started by five Berkeley MBAs in 1999, has grown into an international success and has attracted a record number of business plans and new partner institutions from around the world in its eighth year.


The competition aims to provide a global forum for entrepreneurs to showcase and improve their plans and for investors to support groundbreaking social ventures.


A record 157 teams from 80 universities in 20 countries entered this year's contest, a nearly 40% increase over last year's 113 submissions.


This year, the Yale School of Management and the Indian School of Business joined the existing partnership between Haas, Columbia Business School, and London Business School. The University of Geneva and a consortium of business schools in Korea, called Social Venture Competition Korea, also joined as affiliates.


For several years, the location of the competition finals rotated among the three partner schools. In 2007, the finals returned to Berkeley, where they will be held from now on.


The Berkeley MBA team, Revolution Foods, won the $25,000 grand prize at this year's competition finals held on April 13. For more on Revolution Foods, see page 17.


Three teams - Verdacure from Thammasat in Bangkok, Thailand; Babson College's Feed Resource Recovery; and Stanford University's d.light - tied for second place, each winning $5,000. d.light also won the $5,000 prize for providing the best Social Impact Assessment.


Omidyar Network gave a $300,000 gift to support the competition over the next three years. Other sponsors include Hewlett-Packard Company, Morrison & Foerster LLP, Opus Prize Foundation, Gray Matters Capital, and New Resource Bank.


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