The impact of non-monetary awards in social entrepreneurship competitions

Abstract

This work project analyses the effects of non-monetary awards on the outcomes of established social ventures. Building on the extensive literature traditional business plan competitions and exploring the literary gaps regarding non-monetary awards in social entrepreneurship, a control group was used to compare the outcomes of 13 winners of an event with those of 14 non-winning participants of the same competition, a rare construction in existing studies within the field. Results indicate that non-monetary awards can have long term positive effects in terms of credibility, motivation and access to funds, while increasing probabilities of survival and growth.