The Savvy Prize is back for the second year. Savvy is calling all entrepreneurs from around the world, with high-impact for-profit or non-profit projects, to apply for the Savvy Prize 2023 for Impact-Driven Entrepreneurs, which seeks to recognize and support the efforts of impact-driven entrepreneurs working to solve some of the world’s most pressing problems through innovative and sustainable ways. Aside from the recognition, the 2023 Savvy Prize comes with a lot of benefits including up to $3,000 in cash prizes, product development support, and marketing endeavors.
HOW IT WORKS
To be eligible to apply for the 2023 Savvy Prize, you have to be a Savvy Fellow first. This means, if you’re not yet a Savvy Fellow, you have to apply for the Savvy Fellowship Program, and after being accepted into the ongoing Fellowship program, you can apply for the Savvy Prize immediately. Those who are already Savvy Fellows can immediately apply for the Savvy Prize. The application process for the 2023 Savvy Prize is very simple and straightforward. The application consists of six thought-provoking questions:
1. What is the problem you’re addressing and why is it important? Why is now the best time to address it?
2. What is your proposed solution? What makes it innovative and scalable?
3. Who will benefit from this solution (specific target population) and where are they located?
4. If you are successful, the world will be better off because…
5. Upon receiving the Savvy Prize, what are the key milestones you believe you will attain within the next 12 months? How will you know if you’re successful?
6. What makes you or your team the ideal leader(s) for this project?
PRIZES AND BENEFITS
The top 10 finalists will receive a certificate of achievement. However, the top 3 winners will receive the following:
First Prize: $1,450 worth
1. $450 – In Cash
2. $450 – Article feature on 4 media websites
3. $550 – 1 year $540 web and app hosting + $10 domain name registration
Second Prize: $1,000 worth
1. $450 – Article feature on 4 media websites
2. $550 – 1 year $540 web and app hosting + $10 domain name registration
Third Prize: $550 worth
1. $550 – 1 year $540 web and app hosting + $10 domain name registration
ABOUT THE SAVVY FELLOWSHIP PROGRAM
Available in 111 languages, the Savvy Fellowship program is a 12-week e-learning experience. As a Savvy Fellow, you will get to learn everything from ideation to venture scaling, including how to start, build, and scale an impact venture. Using visual presentations, Savvy will help you answer all the relevant questions you need to kickstart that amazing impact venture, gain early traction, achieve product-market fit, and scale into newer markets. Some of the things you’ll learn during the program are ‘understanding your customer’, ‘building a product or service that effectively solves their key challenges’, and ‘effectively positioning your solution in the market.’ Savvy is for every impact entrepreneur, no matter what stage your venture is.
So far, it has received over 92,000 applications from around the world, and have selected, trained, and supported over 7,600 Fellows from 158 countries.
ELIGIBILITY
The 2023 Savvy Prize is open to Savvy Fellows who are currently participating in the Savvy program, or that have completed the program. Those who aren’t Savvy Fellows yet can apply first to the Savvy Fellowship Program, and after getting accepted into the program, they can apply for the Savvy Prize, right away. Current and past Savvy Fellows can immediately apply for the Savvy Prize.
For those applying to the Savvy program, it’s important to note that the program is open to aspiring and early-stage entrepreneurs around the world. This means the program accepts individuals who are seeking to start a business and those who have already started one.
There is no geographical, ethnic, or academic restriction. The Savvy program accepts new Fellows between the ages of 18 – 40, who can demonstrate in their application their passion to learn and create lasting change in their community (and the world.) However, Savvy considers applicants above the age of 40, with at least 5 years of work or entrepreneurial experience.
TERMS AND CONDITIONS
1. There is no entry fee.
2. Submissions must be original, unpublished responses by the applicants and cannot infringe upon any copyright laws. The applicants must be the author of all entries and hold full rights to them.
3. By entering the Prize contest, applicants are deemed to have agreed to the use of their responses in any Savvy promotional material.
4. Savvy reserves the right to remove and disqualify submitted applications, which may cause offense or may be deemed unsuitable or inappropriate for this Prize contest.
5. Savvy cannot take any responsibility for entries that are incorrectly or incompletely submitted.
6. Savvy will not accept applications from previous Savvy Prize winners.
JUDGING CRITERIA
The jury, made up of Savvy mentors will carefully select finalists and winners based on the following criteria:
2. After being accepted into the program, you can apply for the Savvy Prize immediately from: https://savvyfellows.com/prize/
For Savvy Fellows
For Savvy Fellows (who are currently partaking in the program or have completed the program), you can apply for the Savvy Prize immediately from: https://savvyfellows.com/prize/
APPLICATION DEADLINE
The deadline for application is December 31, 2022, at 12 midnight GMT.
IMPORTANT TIMELINES
The top 30 semifinalists will be announced on February 2023. Semifinalists will be requested to submit a one-minute video re-introducing their project to the Savvy judges. The top 10 finalists will be selected shortly after this. Interviews will follow shortly, and on March 2023, the top 3 winners will finally be announced.
