2017 TEF Business Plan Competition for Social Enterprises
Win up to $75,000 for your new social enterprise!
The Toronto Enterprise Fund is pleased to announce the launch of its 2017 Business Plan Competition. The competition is open to new non-profit social enterprises that provide transitional or permanent employment for people who are marginalized. A social enterprise is a business operated by a non-profit that sells goods and services in the market place, for the dual purpose of generating income and achieving a social, cultural or environmental goal.
This year, the deadline for submissions to the Competition is October 6, 2017. The first place winner can receive up to $75,000 in seed funding. A total of $155,000 is available for the winners.
To enter the competition, your organization or group must be starting a non-profit social enterprise, attend all the workshops listed below, create a feasibility study (by June 23) and submit a comprehensive business plan by the Oct 6 deadline. For more details on eligibility, please read through the eligibility criteria of the Business Plan Competition. If you plan to submit, please register for the workshops below.
The Toronto Enterprise Fund requires that all prospective applicants to the Business Plan Competition attend ALL four workshops presented by TEF. (If you have attended one of these workshops in the past 2 years, you do not have to repeat it).
2017 TEF Business Planning Workshops
- Introduction to Social Enterprise - Tues. May 2, 1:00 to 4:00 pm
- Feasibility and Market Research - Fri. May 19, 9:30am to 2:30pm
- Social Programming Design - Fri. Jun 9, 9:30am to 12:30pm
- Financial Planning for Social Enterprise - Mon. Jun 26, 9:30am to 12:30pm
Descriptions of Workshops:
Introduction to Social Enterprise (MANDATORY for prospective competition participants)
For organizations and community groups interested in social enterprise, theintroductory workshop will help you understand the difference between different types of social enterprises and explore the organizational characteristics that lead to successful implementation. We will also do an exercise to brainstorm business ideas that might be a good fit for your organization and explore the extent to which your organisation is ready to start a social enterprise. You will come away from this workshop with information about the development path for social enterprises and the Toronto Enterprise Fund’s Business Plan Competition’s eligibility criteria and application requirements.
Feasibility and Market Research (MANDATORY for prospective competition participants)
This workshop will help you understand the value of conducting a thorough feasibility study of the market opportunity that your social enterprise idea represents. We will consider the different sources of information to assess the market demand for your product or service - including procurement opportunities, how to determine the strategic ‘fit’ with your mission, how to conduct a SWOT analysis, evaluate the financial potential and the social impact potential of an enterprise like yours.
Social Programming Design (MANDATORY for prospective competition participants)
This workshop will help you to: analyze who you will be employing at your social enterprise; design your social programming so your enterprise creates pathways that deliver the desired social outcomes; understand and apply design concepts and considerations related to the social component of your enterprise including targeting, accommodation, job requirements and transitions strategies; consider effective strategies for achieving the social (particularly employment-related) objectives of your business; and understand TEF’s expectations of social outcomes.
Financial Planning for Social Enterprise (MANDATORY for prospective competition participants)
This workshop will help you determine how to: price your product; forecast your sales and cash flow; calculate your start-up costs; and separate your business costs from your social costs. This interactive workshop will help you understand the alignment between your sales and cash flow forecast and your business plan.
If you require additional information, please contact Anne at (416) 777-1444 ext. 513 or firstname.lastname@example.org, or Litza at (416) 777-1444 ext. 235 or email@example.com.