Forbes Partners with The Rise Fund and Echoing Green to Launch $500,000 Global Under 30 Impact Challenge
-Competition is open to creative entrepreneurs around the world, under 30, who are driving positive social and environmental impact through successful for-profit enterprises -Entrepreneurs will compete for up to $500,000 in value A winner will be awarded on stage at the fourth annual Forbes Under 30 Summit, Oct. 1-4 in Boston -#Under30Summit
BOSTON--(BUSINESS WIRE)--Forbes announced today that it is partnering with The Rise Fund and Echoing Green to launch the Under 30 Impact Challenge — a $500,000 global contest for creative entrepreneurs, under the age of 30, who are building successful for-profit enterprises that drive positive social and environmental impact. The winning business will be announced on October 2, 2017 during the fourth annual Forbes Under 30 Summit, which will be held in Boston October 1-4, 2017.
"The creativity and dynamism that exists in the Under 30 cohort around social and business innovation is extraordinary"
The Rise Fund invests in companies that create positive impact at scale through their core business operations, such that financial success and meaningful social and environmental impact reinforce one another. Echoing Green catalyzes the impact of emerging social innovators, identifying leaders early in their career and investing in their success by providing seed funding, leadership development, hands-on support and networking opportunities during their fellowship and beyond.
"At an event that celebrates the world's best young entrepreneurs, we're proud to host a competition for those who are also committed to making a positive social impact. The partners we have in this endeavor are fittingly world-class," said Forbes magazine editor Randall Lane.
"The creativity and dynamism that exists in the Under 30 cohort around social and business innovation is extraordinary," said Bill McGlashan, Founder and Managing Partner of TPG Growth and Co-Founder and CEO of The Rise Fund. "The Rise Fund is excited to partner with Forbes and Echoing Green to identify and invest in the winning enterprise to help scale the business and drive what we call ‘colinearity,' where the financial success of the business is inextricably linked to the delivery of positive impact outcomes."
"Echoing Green is proud to partner with Forbes and The Rise Fund on this Under 30 Impact Challenge," said Cheryl L. Dorsey, President, Echoing Green. "Our organizations are aligned in our desire to identify, highlight, and support talented young social entrepreneurs as they build their businesses."
Applications will be accepted beginning on August 17, 2017 through September 6, 2017. Submissions will be screened by Forbes, The Rise Fund, and Echoing Green. Finalists will pitch their businesses to The Rise Fund and Echoing Green teams during the week of September 18, 2017, and a winner will be awarded by Cheryl L. Dorsey and Bill McGlashan at the Forbes Under 30 Summit on Monday, October 2, 2017.
About the $500,000 Under 30 Impact Challenge:
The winning company will qualify for up to $250,000 in investment from The Rise Fund and its affiliates on mutually agreeable investment terms. Forbes will offer $250,000 in an in-kind media grant, bringing the total value to $500,000. For more information, go to www.therisefund.com/under30impactchallenge
How to Apply for the $500,000 Under 30 Impact Challenge:
Submissions will be accepted from August 17, 2017 to September 6, 2017. Applicants must be under 30 and the businesses must be in a growth phase, with two full years of generating revenue above $100,000 and/or $1 million in cumulative revenue. Businesses must operate in one or more of the following seven sectors: education, energy, food and agriculture, financial services, growth infrastructure, healthcare or TMT (technology, media and telecommunications).
To submit for the $500,000 global Under 30 Impact Challenge, please visit: www.therisefund.com/under30impactchallenge
About the Forbes Under 30 Summit, Oct. 1-4, Boston
The Forbes Under 30 Summit, the definitive place to learn, network, collaborate, recruit and exchange ideas of the future, is expected to bring together more than 6,000 of the world's top young entrepreneurs and game changers and 200 world-class speakers.
Speakers for the 2017 Forbes Under 30 Summit include:
Ashton Kutcher, Founding Partner of Sound Ventures
Guy Oseary, Founding Partner of Sound Ventures
Paul Tudor Jones, Founder, Co-Chairman, Chief Investment Officer and the controlling principal of Tudor Investment Corporation;
Anne Wojcicki, Co-Founder and CEO of 23andME
Emily Weiss, Founder & CEO of Glossier
Lilly Singh, YouTube Star;
Tyler Oakley, YouTube Personality and New York Times Bestselling Author;
John Chambers, Executive Chairman of Cisco Systems;
T.J. Miller, Actor and Comedian;
Asia Kate Dillon, Actor and star of Showtime's Billions;
Sophia Amoruso, CEO & Co-Founder, Girlboss Media;
Bozoma Saint John, Chief Brand Officer, Uber;
Hikaru Nakamura, four-time U.S. Chess Champion;
Ray Dalio, Founder, Co-Chief Investment Officer & Co-Chairman of Bridgewater Associates;
Craig Venter, President & Chairman of J. Craig Venter Institute;
Steve Huffman, CEO & Co-Founder of Reddit;
Dr. Ruth Westheimer, Sex Therapist, Media Personality and Author;
Yasmin Green, Director of Research and Development for Jigsaw at Alphabet Inc.
There will be nine interconnected themed stages: Tech, Create, Capital, Impact, Discover, Wealth Advisor, Women@Forbes, Ideas and a Main stage. Forbes will also transform Boston's City Hall Plaza into a central village where all attendees will be able to network, view demonstrations and performances and unwind at a pop-up beer garden.
For additional details on the 2017 Forbes Under 30 Summit in Boston, please visit https://www.forbes.com/forbes-live/event/under-30-boston. On Twitter, follow #Under30Summit.
About the Forbes Under 30 Franchise
Forbes' Under 30 franchise is a global multichannel platform, which comprises 30 Under 30 lists featuring young global game changers published in print and online all over the world; live summits in the U.S., Asia and Israel; an Under 30 channel on Forbes.com; and a Forbes Under 30 app. To access Forbes magazine's 2017 30 Under 30 list, please visit: http://www.forbes.com/30under30.
About The Rise Fund
The Rise Fund is a global fund committed to achieving measureable, positive social and environmental outcomes alongside competitive financial returns—what we call "complete returns." The Rise Fund is managed by TPG Growth, the global growth equity and middle market buyout platform of alternative asset firm TPG. TPG Growth Founder and Managing Partner Bill McGlashan, U2 lead singer Bono, a well-known activist and a special partner with TPG Growth, and Jeff Skoll, a global entrepreneur, film producer, and impact investor, co-founded The Rise Fund. They were joined by a group of influential thought leaders with a deep personal and professional commitment to driving social and environmental progress, who came together to form the Founders Board. Founders Board members include Lynne Benioff, David Bonderman, Richard Branson, Jim Coulter, Mellody Hobson, Reid Hoffman, Mo Ibrahim, Laurene Powell Jobs, Pierre Omidyar and Paul Polman. The Rise Fund's impact objectives are designed to align with the United Nations Sustainable Development Goals. The Rise Fund targets investments in education, energy, food and agriculture, financial services, growth infrastructure, healthcare, and TMT (technology, media, and telecommunications) companies that deliver complete returns.
About Echoing Green
Echoing Green identifies tomorrow's transformational leaders today. Through its Fellowships and other leadership initiatives, Echoing Green spots emerging leaders and invests deeply in their success to accelerate their impact.
Echoing Green has been ahead of the curve for 30 years, supporting visionaries around the world who are transforming economies, racial and gender equity, environmental sustainability, and more. Echoing Green's unparalleled community of talent consists of more than 750 innovators including the founders of Teach For America, City Year, One Acre Fund, SKS Microfinance, Public Allies, and more. The organization provides seed-funding and leadership development to a new class of Fellows every year and welcomes them into its lifelong community of leaders.
Echoing Green accelerates talent that will change the world for the better.