Eighteen teams of entrepreneurs from around the world will gather between April 9 and 10 at the UC Berkeley Haas School of Business to compete for a record $55,000 in prizes at the Global Social Venture Competition (GSVC) finals. GSVC has awarded more than $500,000 to emerging social ventures since its founding by Berkeley MBA students 15 years ago.
“For the last 15 years, the GSVC has empowered entrepreneurs to launch sustainable ventures that are improving the health of ecosystems and communities from Berkeley to Burkina Faso,” says GSVC Co-chair Ali Kelley, MBA 15. “As students, we are encouraged to apply business skills to effect positive, real-world change. Social impact is ingrained in Haas culture.”
The two Haas regional winners that have moved on to the global finals are LegWorks and earthenable. LegWorks has developed an artificial knee joint that it says costs less than one-tenth that of existing products and enables users to walk more efficiently, safely, and comfortably. The group hopes its device will help lower-limb amputees in developed as well as under-resourced countries, where disabilities often lead to poverty.
“Our vision is to develop and supply all components of a complete prosthetic leg solution for amputees no matter where they live or their ability to pay,” LegWorks’ Emily Lutyens, MBA 13, says.
Earthenable makes earthen floors that provide Rwandans with a healthier alternative to dirt floors. The $30 earthen floors—made of packed, sealed materials such as gravel, sand, clay, and fiber—cost far less than the $300 to $500 for concrete floors.
In addition to the $25,000 grand prize, $15,000 second prize, and $7,500 third prize, the finalists on the second day can win the $1,500 People’s Choice Award, which is bestowed by audience votes.
Registration is required for the April 11 GSVC global finals, which runs from 8:00am to 5:30pm