Goals
- Expose students from 750 High Schools to Social Entrepreneurship
- Raise more than $250,000 for Canadian Charities
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Overview
Impact Microcredit exposes high school students to entrepreneurship in an innovative, hands-on way, while raising hundreds of thousands of dollars for worthy Canadian charities!
How it works:
1. Each team of 3-5 students gets a $100 microloan and has just 10 days to develop an entrepreneurial venture of their choice.
2. Teams across Canada are connected through a social network where they post hundreds of blogs, photos and videos.
3. At the end of the competition, the $100 microloan is returned, and the remaining profits go entirely to the Canadian charity of the team's choice.
4. The students are judged not only on the amount of money raised, but also on the innovation, sustainability and implementation of their ideas.
5. The winning teams receive prizes, which in the past have included scholarships and trips to conferences!
Past Results:
2008 - 35 School - $15,000 raised for charity
2009 - 90 Schools - $35,000 raised for charity
2010 - 100 Schools - $37,000 raised for charity
How will the $25K be used? |
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| Budget Notes: As an entirely youth and volunteer run organization, your funding will never pay for our salaries! In addition, these funds will never go towards administrative costs, social activities, or anything not directly related to this competition. | |
| $ 7,500 | Fees associated with 750 $100 microloans through pre-paid VISA cards. |
| $ 10,000 | Upgrading our technology to facilitate 750 simultaneous teams. |
| $ 5,000 | $5,000 will go towards a scholarship awarded to a winning team. |
| $ 2,500 | Marketing costs to reach thousands of students across Canada. |
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