One Young World Competition for Sustainable Development - Support SMEs to win $50,000

One Young World is offering a competition for participants from all around the world to find solutions to finance the growth of SMEs and trade to unlock prosperity for the world’s communities. The participant should think about how to do this in 2030’s world and how to rewire the DNA in Banking, Show your vision for communities, trade and prosperity in the future through finding the solution.

About the solution:

• The solutions must creatively address the need to grow access to banking & financial services to support, in particular, trade and SMEs. 
• In doing so, solutions will be characterised by how they support:

1. Communities: growing the economic vibrancy of communities of entrepreneurs and businesses in and across our footprint
2. Networks: connecting communities & ecosystems through commerce, information and communication
3. Participation: creating engagement and mobilisation for the purpose of sustainable development and prosperity

• At the same time, traditional models of banking and financial services are changing, with the potential to fundamentally transform. 
• This transformation is being driven by innovation and technology in an ever more connected world; already changing the way we perceive communities, and the way we should think about financial services.
• How can innovation support new ways of banking to provide more businesses and communities with the means to grow, more quickly? 
• How can we collaborate - on ideas, technology, across industries and borders to serve those who cannot easily access support from banks and financial institutions?

Eligibility Criteria:

1. Youth-led: Founded by a person aged 18 – 30.
2. Focused: Well-structured time horizon, identified key stakeholders and beneficiaries, and proposed outcomes that are reasonable and well thought out.
3. Proven: Readily available, in or past implementation phase.
4. Impactful: Solutions must have a positive social impact, for example generating employment, or developing skills.
5. Measurable: Impacts of solutions must have been adequately measured and/or be measurable.
6. Financially viable: Must be able to achieve efficiency and to survive independently through the resources they generate and/or the investments and donations they attract.
7. Scalable: Potential to perform as well or better after expanding in scope or size and/or being transported to other regions

Benefits:

The winning solution will receive

• A US$50,000 grant from Standard Chartered
• 12 months of mentorship from a team of Standard Chartered professionals. 
• The mentorship team will work to accelerate your solution based on the needs of your initiative or organization, such as:

1. Business strategy
2. Best practices for data collection
3. Monitoring and evaluation
4. Product design

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