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

entrepreneur daily
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

Founder of This Dog's Life

Andrea Huspeni is the former special projects director at Entrepreneur.com and the founder of This Dog's Life.

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