The MicroMax Challenge
Can you turn $100 into an opportunity?
Opportunity International Canada has 100 “loans” available for young leaders and
entrepreneurs aged 18-35 who are interested in becoming “microentrepreneurs” in Canada. Applicants can apply individually or in groups of up to three
people by completing an application form. Successful applicants will receive a $100 loan (similar to the size of an average first loan to our
clients) to be used as start-up costs for a fundraising venture on behalf of OIC.
Enjoy getting a small taste of our clients’ entrepreneurial
challenges as you are faced with the need to ‘get creative’ in order to make a profit and repay your initial loan! Click HERE to
download the English version of the application now. Au
dessus pour la version francaise .
Applications are being accepted now and successful participants will be reviewed on an ongoing basis.
(Application Form
still states old deadline date)
Once approved,
you will then have until June 15, 2010 to use the initial loan for the purpose of hosting an event, selling your art, having a silent auction, or
even holding a bake-sale. We will provide you with a basic toolkit to help get you started and even connect you with a "loan officer" - an OIC
volunteer who will assist you with brainstorming ideas, connecting you with fellow MicroMax entreprenuers, and tracking and sharing your success.
Please note that 50/50 draws, raffles and events that include alcohol being served without a permit (i.e. outside of a licensed and insured
establishment) are not approvable for the MicroMax Challenge.
Grand Prize: All applicants will be eligible for the MicroMax grand prize
-
an all-expenses paid trip to Colombia in late August to visit
trust groups and meet our clients. Three prizes are available. If the winning team is made up of less than three people, the winner(s) may invite up
to two others to join the trip (guests will be responsible for an honorarium of $200 each).
Winners will be evaluated based on the following criteria:
70% financial goals
- 60% total amount raised
- 10% totals compared to goal (was the plan realistic or was fundraiser drastically more
or less successful than anticipated and why?)
30% non-financial goals
- Originality/creativity/effectiveness - measured both in terms of marketing and the business idea itself
- Outreach – promotional and/or
awareness building activities are undertaken and tracked, target goals were met
- Number of contributors – defined to include volunteers, donors
and “customers”
Challenge Proceeds: All money raised by the challenge will be directed to OIC and specifically used to expand
Opportunity’s core set of microfinance services (with the addition of a newly developed Youth Entrepreneurship Program) to a new area in Colombia
through OIC’s “Villages of Opportunity” program.
The expansion of our work in Colombia is part of an ambitious $150,000 goal set by “Young Ambassadors for Opportunity” (YAO), Opportunity’s movement
for 18 – 35 year olds (www.opportunityinternational.ca/yao). All money raised by the MicroMax Challenge will be matched by a generous grant provided
by Face of Today Foundation - an organization led by a group of young Canadians who are focused on “turning dreams into reality.”
MicroMax on Facebook: http://www.facebook.com/event.php?e
id=290675637266&index=1#!/event.php?eid=290675637266&ref=mf
Ready to apply? We are looking for participants from a wide
variety of backgrounds, not just those with previous experience as an entrepreneur or fundraiser. Microfinance in general aims to give everyone an
opportunity to succeed. Creativity, a well-thought out plan of action, enthusiasm and a desire to succeed will be the items we are looking for on
your application. Click HERE to download the application now! Au dessus pour la version francaise .
The MicroMax Challenge has been made possible by the Catalyst Foundation .
