Get All Access for $5/mo

A Chance to Win $50,000 and Mentorship From TOMS Founder Blake Mycoskie GOOD and TOMS are teaming up to help one lucky social entrepreneur turn her dream into a reality.

By Andrea Huspeni

TOMS Founder Blake Mycoskie

There are few social entrepreneurs more well-known than TOMS founder Blake Mycoskie. He wants to change that.

Kicking in $50,000 and his mentorship, Mycoskie has teamed up with global-community platform GOOD for the Start Something That Matters Challenge, which is named for the fund that's fronting the award.

Looking for the next change-maker, the contest is asking social entrepreneurs to submit their world-changing ideas by next Friday (May 17). To be considered, you must be a U.S. resident and focused on providing a solution with global impact. So far, the contest has received submissions from all different industries with some business ideas looking to make an impact with design, food and beverage, technology and fashion.

How do you stand out?

Related: Kidpreneur Maya Penn on Starting Up and Giving Back

"We're looking for submissions that are detailed, have the potential to be realized and convey plans for positive social impact," says CEO of GOOD Ben Goldhirsh. "We want to see how the business idea ties in with the social innovation idea and how the business can spur the movement, rather than vice versa."

After the submission deadline, a panel of judges will select the top finalists, which will be announced on the GOOD website. After that, a combination of community voting and another round of selection from the judges will determine who will receive the $50,000 check. Voting will begin on May 29 and run through June 12.

Teaming up with Mycoskie was a no brainer for GOOD. After being inspired by his 2011 book, Start Something That Matters (Spiegel & Grau, 2011), GOOD thought he would be the perfect fit for helping social entrepreneurs leverage their dreams. Plus, the Start Something That Matters Foundation selected GOOD as one of the first three recipients of a fund that Mycoskie set up using the proceeds from his 2011 best-selling book.

Related: 'Impact Entrepreneurship' Places Importance on Social Conscious

"Ben Goldhirsh and his team at GOOD have been great friends of the brand since the early days of TOMS. It only seemed natural to bring the Start Something That Matters Challenge to them and ignite their community and help inspire ideas to make a positive impact in the world," said Mycoskie

Think you have what it takes? Go ahead, start something that matters.

What good would you do with mentorship and financial backing from Blake Mycoskie?Tell us in the comments below.

Andrea Huspeni

Articles Editor

Andrea Huspeni is the articles editor at Entrepreneur.com. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business Solutions

Amp up Productivity with MS Office 2021 for Just $60

Unlock the full potential of your business with a lifetime license to the suite of beloved apps.

Leadership

From Crisis to Control — How to Lead Effectively in High-Stress Scenarios

From the eye of the storm to the heart of leadership: How BELFOR's Sheldon Yellen's approach to the disaster recovery industry is revolutionizing resilience in business.

Operations & Logistics

3 Reasons Why Your Business Should Start Digitizing Payments

Customers will continue to demand more digital payment options and expect convenience, security and simplicity — and businesses will need to adapt or struggle.

Starting a Business

How to Connect With Buyers and Get Your Products on Store Shelves, According to the Founder of Daring and Cadence

Ross MacKay, founder and original CEO of the plant-based food company Daring Foods and co-founder of performance beverage brand Cadence, shares the strategies that have landed his products in over 40,000 stores nationwide.

Business News

Southwest Airlines Is Switching Up Its Boarding Policy and Assigning Seats for the First Time Ever

The airline, known for its unique open seating model, will assign seats for the first time in company history.

Growing a Business

Being a Good Manager Isn't Enough — Here Are 5 Leadership Skills That Will Keep Your Employees Around

The article outlines five key leadership skills — engagement culture, effective staffing strategies, AI utilization, shared team reality, and work-life balance — that can improve team performance and reduce turnover, fostering sustainable growth and innovation.