NEW YORK, July 30 /PRNewswire-USNewswire/ -- On Thursday, July 31,
2008, the Economic Opportunity Institute (EOI) will host the finals of the
Social Venture Plan Competition at the 2008 National Urban League Annual
Conference in Orlando, Florida. The competition, sponsored by The
Prudential Foundation and FedEx Corporation, identifies and showcases
successful and replicable social ventures operated by Urban League
affiliates, and serves as a model for innovative and sustainable
Teams from Cincinnati, Hartford, Jacksonville, Lorain County, New York,
Philadelphia and Tucson will compete in the finals for over $100,000 in
start up cash and consulting services to launch their social
entrepreneurial and non-profit initiatives. The winners will be announced
at the Whitney M. Young Gala on August 2, 2008.
The competition is sponsored by Prudential Foundation and FedEx and all
of the finalists will receive feedback on their social venture plans from
accomplished judges, Alfred Edmond (Editor-in-Chief, Black Enterprise.com),
Julius Walls Jr. (CEO, Greyston Bakery), and Linda Roach (Partner, Oakcrest
In the face of declining support for endowments and the highly
competitive nature of grant funding, nonprofits are increasingly
integrating entrepreneurial strategies as a way to tackle social problems.
They seek to earn capital in order to sustain their missions and, for many,
build their capacity to consistently deliver services to the underserved.
President and C.E.O. of the National Urban League, Marc H. Morial explains,
"I envision an entrepreneurial Urban League movement that enjoys
economic sustainability while empowering communities and changing lives.
Social entrepreneurship is the new community service grant. FedEx and the
Prudential Foundation are supporting the creativity and drive of our
affiliates to provide the services that our communities demand."
The EOI Social Venture Plan Competition is simultaneously a practicum
in competing for investment funds and also a vehicle to provide funding and
in-kind services to those that demonstrate the greatest potential for
success. This last round of the competition is open to the public and is a
great opportunity for residents of the Orlando area to learn about
opportunities in social entrepreneurship, and network with social
Established in 2003, the National Urban League's Economic Opportunity
Institute (EOI) empowers communities and changes lives by promoting social
entrepreneurship as a strategy to achieve sustainable social change.
SOURCE National Urban League