McKinsey Venture Academy 2019
What is McKinsey Venture Academy?
McKinsey Venture Academy is a social enterprise competition for university students based in the UK and Ireland. It is sponsored by McKinsey & Company, a global management consulting firm. Our aim is to help you tap into your creativity and an entrepreneurial spirit, which will enable you to transform your seedling ideas into social enterprises that make a difference. This is your opportunity to make a real difference!
What’s the prize?
The winning team will receive seed funding of £15,000 and on-going support and mentorship from McKinsey to help transform their idea into a real social enterprise. Second prize and third prize teams will also receive seed funding of £4,000 and £1,000, respectively.
Want to get involved?
The 2019 competition will be open very soon
The 2019 competition is open to all undergraduate and postgraduate university students based in the UK or Ireland, regardless of the subject they study. We are looking for groups of 2-8 creative and enthusiastic individuals with a great idea and a desire to create change. You can enter with a social enterprise at any stage of development: from a brand new idea to a business that is already running that you are trying to grow. In last year's competition, the vast majority of entries (and our winner) were very early stage ideas…
Entering is easy and is divided into four stages
- Firstly, you just need to register you team and send us a brief overview of your idea (due 23 February 2019)
- If your idea is selected to go through to the next stage, we will invite you to submit a video highlighting the key elements of your idea (due 16 March 2019)
- If your idea is selected to proceed, your team will be invited to a McKinsey workshop afternoon in the London office which will include a panel of social entrepreneurs and break-out sessions to help you prepare and pitch a business plan
- Next we will ask you to submit a full business plan for your idea and provide you with a mentor to help you develop the plan
- The final stage of the competition involves presenting your business plan to a panel of judges (27 April 2019)
What support will we receive?
All teams will receive feedback to help develop their enterprises. Teams who pass Stage 2 will be offered the opportunity to attend a workshop with some of the UK and Ireland's social enterprise leaders. McKinsey consultants will mentor teams to help develop their ideas into business plans.