2016 Social Impact Track
From 2015-2016, this track was known as the Social Impact Track. Business Impact co-hosted the 2016 Social Impact Track as part of the campus-wide Michigan Business Challenge, in partnership with the Zell Lurie and Erb Institutes. The competition awarded a $26,000 prize pool to the most compelling business plans that deliver social impact.
Here’s how it unfolded
Round 1 of the Michigan Business Challenge
Fri, Dec. 4, 2015 12:45 – 5:00pm @ Ross School of Business
Over 100 teams pitched their concepts, with half of them competing in the Social Impact Track
Social Impact Assessment Workshop
Thurs, Dec. 10, 2015 5:30-7:00pm @ Ross School of Business
Business Impact’s Managing Director, Rishi Moudgil, reviewed best practices and approaches for launching social ventures, including the following questions:
- How do you best structure your business model to deliver social impact?
- What impact tools, metrics, and measurements should you consider?
- How do you differentiate social goals from commercial and/or financial?
- What are your target populations and market segments?
- What does it mean to achieve financial sustainability in a social venture?
Round 2 of the Michigan Business Challenge – Social Impact Track
Fri, Jan. 22, 2016 1:00-5:00pm @ Ross School of Business
The top eight teams pitched their concepts for the Social Impact Track:
CARt – Coordinating rides for low-income, low-vehicle access individuals to get to and from supermarkets so they have increased access to healthy, affordable food
GoodVest – Using advanced algorithms to provide data-driven insights into the social impact and financial strength of publicly traded companies
Inverxion – Alternative investment firm that supports minority-owned businesses with capital investments of $10,000 or more
Kulisha – Offering a superior aquafeed using insects that adds value to aquaculture operations and reduces environmental impact
LiquidGoldConcept – Fostering an open exchange of breastfeeding knowledge to develop evidence-based lactation education tools for parents and providers
NELO – Online tool and app envisioned with students first to improve the number of at-risk students that not only graduate, but are positioned to be competitive in the job market
Project MESA – Designing a portable gynecological exam table to help rural clinicians in developing countries conduct more effective and frequent women’s examinations in mobile health settings
socFoodBank – Connecting small businesses, restaurant owners and event organizers with volunteers to transport surplus, possibly perishable, food
StepFor – Maximizing the marketing value of every dollar spent on corporate donations by effectively engaging users through fitness-powered crowdfunding
Final Round of the Michigan Business Challenge – Social Impact Track:
Fri, Feb. 19, 2016 @ Ross School of Business
12:00pm – 3:00pm: Final Team Pitches
5:00pm – 6:15pm: Team Showcase & Winning Team Announcement
Participating Finalists (click links for full-length articles):
Congratulations to Kulisha, the 2016 Social Impact Track Team, who won $15,000
…And congratulations to Social Impact Track Runners Up:
- StepFor, who won $7,500
- CARt, who won $2,500
- Project MESA, who won $1,200