Skandalaris Center

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ABOUT:

The Global Impact Award was founded in 2013 to support the vision and passion of Washington University in St. Louis students, postdoctoral researchers, and recent alumni who are creating ventures that are scalable, sustainable, and quick-to-market with proof of concept and a broad impact.

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Applications are open for the 2020-2021 Global Impact Award cycle. Apply by November 30, 2020 at 5 p.m. (CT). 

PROCESS

Five to seven finalists will be selected from the applicant pool to continue to the finals. All finalists will be connected to expert mentors in their relevant fields, which will help ventures connect with the right people to ensure success. This mentorship and preparation will last for 6 months. In April, all finalists will present to an esteemed panel of judges, and the judges will select one or more winners of the $50,000 award.

TIMELINE

  • October 26, 2020 - Applications open
  • November 30, 2020 at 5 p.m. - Applications are due
  • December - Finalists are announced
  • Spring - Finalist teams work with the SC and the GIA community to develop their deliverable materials
  • April - Final presentations and award announcement at The Skandy Awards

ELIGIBILITY

In order to be eligible to receive the award, the founding team and venture are expected to meet certain criteria.

TEAM MEMBER REQUIREMENTS:

  • The founding team must include one or more of the following: a current Washington University in St. Louis enrolled undergraduate, graduate or professional student; resident; a postdoctoral researcher; or an alumnus who has graduated within ten years of submitting his or her application for the award.
  • The Washington University-affiliated team members must have a meaningful role in the venture at the time of its application for the award.

VENTURE REQUIREMENTS:

  • The venture must have incurred less than million in total debt, equity, grant or prize funding at the time of application.
  • The venture must have completed a proof of concept.
  • The venture may be a commercial or hybrid for-profit/nonprofit legal entity, and is expected to have high impact, be sustainable and scalable.
  • The venture may be based on faculty inventions or IP disclosures, provided the venture includes at least one Washington University-affiliated team member who meets the above requirements and holds meaningful equity (no less than 5%, including options) participation in the venture.

Judging Criteria

Each of the following bullets is worth 10% of a venture's total score.

  • PROBLEM: Clear, concise description, and understanding of the problem
  • SOLUTION: The solution is feasible and has been prototyped, and implementation is achievable by the team and highlighted collaborators 
  • IMPACT: The solution will have a global impact through economic or social value
  • CHALLENGES: The team understands the technical and operational challenges and has a reasonable plan to address them
  • MARKET CONTEXT: The team understands the market and cultural challenges to their solution
  • USE OF AWARD: The budget is appropriate, and a clear plan for additional funding (if needed) is in place
  • TEAM: The team understands their capabilities and have utilized mentors to support their venture
  • SUSTAINABILITY: The venture is scalable and replicable 
  • VIABILITY: This venture has a successful proof of concept, a clear go-to-market strategy, and is scalable. The venture will succeed. 
  • GLOBAL IMPACT AWARD COMMITMENT: The founders are committed to the spirit of the GIA, including giving back to the program to support future ventures

APPLICATIONS

Applications are open for the 2020-2021 cycle. Applications close on November 30, 2020 at 5 p.m. (CT).

Questions: GIA@wustl.edu