Venture Competition

The COMMONWEALTH RALEIGH venture competition is seeking proposals from Triangle-area for-profit companies and non-profit organizations.

Application Submission Timeline

March 15, 2018 - June 30, 2018

APPLICATION PROCESS

Please limit answers to these questions to no more than 500 words each.

1

What is the social or community need that your proposal seeks to solve?

2

What is the innovation you will advance as a remedy to this problem or problem set?

3

How will you produce an economic return to investors?

In the months of April and May, Sagamore will hold two training sessions helping companies and nonprofits improve their plans for social impact and economic return.  The training materials will also be made available online featuring the Social Business Model Canvas described in the book, Business Model Generation.

COMPETITION TIMELINE

OPENS - October 1, 2018
CLOSES - January 15, 2019

 

The application screen will be live on October 1, 2018 and the deadline for submissions will be January 15th.  In the months of November and December, Sagamore will train and help companies and nonprofits improve their plans for social impact and economic return.

APPLY HERE

50 Semi-Finalists Selection - June

 

During the month of February, COMMONWEALTH RALEIGH will convene an investment committee to select no more than 50 semi-finalists.

Between January 15th and February 28th, the semi-finalists will receive $500 each to produce a 5-page online diligence form proving the methods to fulfill their proposal’s goals.

 

Finalist Selection - September

 

The selection committee will study the semi-finalist proposals in March and select 3-5 for a shark tank-type event to be held in April.

The selection committee will work with event judges to select a Grand Prize winner receiving a $100,000 investment and a Runner-Up receiving a $50,000 investment.

 

Winners Selection - October

 

The selection committee will work with event judges to select a Grand Prize winner receiving a $100,000 investment and a Runner-Up receiving a $50,000 investment.

 

All successful proposals will be featured on an online COMMONWEALTH RALEIGH marketplace organized by subject categories (eg, solutions to the food desert crisis and job creation).  Sagamore will also produce a report featuring all of the Triangle's key social problems, the most promising innovations in solving those problems, and clear guidance on how companies can produce social impact and economic returns for investors.

2017 Venture Competition Videos