R.W. Plaster Free Enterprise Challenge


The R.W. Plaster Free Enterprise Challenge will recognize USA team business venture projects that implement entrepreneurial activities to increase profit margins. Profits from the business venture can be used to support the social impact work of the team. The focus of this competition, however, is the success of the team’s business venture. 

The R.W. Plaster Free Enterprise Challenge recognizes the team’s use of sound economic principles1. Specifically, the application of entrepreneurial processes to encourage innovation that produces goods and/or services that others highly value. This will require rigorous budget management focused on achieving strategic short term, medium and long term goals. Financial success is a reflection of the team’s ability to maximize their resources in a market economy.
1Common Sense Economics (Gwartney, Stroup, Lee, & Ferrarini, 2010). 

Business ventures must be an example of free enterprise and cannot have support from state, local or federal grants. Preference will be given to those business ventures that funded their start up through equity investments or venture capital loans.

Project Timeline
The project submitted for this Challenge may be completed any time between May 1, 2016 and March 31, 2017.  

Eligibility
All enrolled Enactus teams in the United States are eligible to enter U.S-based projects.

How to Enter
Teams entering the R.W. Plaster Free Enterprise Challenge are required to submit an online Impact Entry form describing one project that meets the criteria, submit a budget and Profit & Loss (P&L) Statement and submit project pictures.

Please ensure that your Impact Entry form is well-written, using correct grammar, spelling and punctuation. Your descriptions should be clear and concise. Content from this submission will be judged by a panel convened by the R.W. Plaster Foundation.  You are also welcome to submit a short (less than 5 minute) video further detailing your project with your submission. 

Fields marked with an asterisk (*) are required. Please note the text box character limits. Characters include letters, spacing and punctuation. After the entry is submitted, please review the email confirmation. You may log back in to make changes up until the entry deadline, if necessary. Enactus will retain the last entry submitted within the deadline. Any team that completes an online entry for this competition and does not receive this verification should contact Tiffany Haney (thaney@enactus.org) immediately.

Entries must be completed by March 31, 2017 at 5:00 p.m. CT. Submissions received after this time will not be considered.



         

 

 

 

Judging Criteria
How effectively did the Enactus team integrate free enterprise principles to develop and deploy a business venture? Each team will be evaluated on the following:

How much did the team’s entrepreneurial business venture increase their profit margin?

  • How scalable is the business venture for replication at other sites?
  • How sustainable is the business venture for future years?
  • How effectively did the team impact financial inputs and outcomes?
  • How did the team take account of social and/or environmental externalities?
  • Overall, how clear was the business venture entry?

Awards
The top three teams will be selected to receive a Grand Prize Award and will be recognized at the 2017 Enactus United States National Exposition.

  • National First Place: $10,000 & Trophy
  • National Second Place: $5,000 & Trophy
  • National Third Place: $2,500 & Trophy

Contact
Tiffany Haney
Project Manager
Enactus USA
(417) 575-3528
thaney@enactus.org

Submit Your Entry
You may use the R.W. Plaster Free Enterprise Challenge sample Impact Entry to prepare your submission in advance. 

View Sample Impact Entry

Submit Your Impact Entry