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SnO events11 November 2013
The 2013 RISE competition “Revolution Initiated by Students for Entrepreneurship”
- When: 11/11/2013
The RISE – Revolution Initiated by Students for Entrepreneurship – is a new entrepreneurship-themed competition between French universities and Grandes Ecoles. It was launched by Babyloan, one of the biggest crowdfunding platforms.
What is it all about? The operation consists of fundraising by student associations, who transfer the money to the Babyloan.org platform in order to finance micro-entrepreneurs.
Nearly twenty or so associations have joined the initiative, including HEC Paris, ESSEC Business School, Paris Dauphine, Ecole des Ponts et Chaussées, Ecole des Mines Saint-Etienne, Audencia Nantes, EM Lyon, ENS Cachan etc.
Funds loaned by students are later repaid, and this is the beauty of the Babyloan loan: the lender helps an entrepreneur in France or on the other side of the world to develop a small business that generates revenue, while still holding on to his or her money. It is an innovative tool allowing the young student public to become more aware of solidarity and entrepreneurship by investing no more than a couple of euros!
16 schools competed over two days (12th and 13th November) to collect a maximum amount of charitable loans. The students from each campus could choose a project that they wanted to finance.
HEC Paris collected €3,140 thanks to 94 lenders !Six projects have been financed in their entirety:-Clémentine, baby ware shop (Benin): to increase its stock of goods-Barakatou, boutique selling various items (Benin): to increase its stock of goods-Lab, sale of eggs (Cambodia): to buy more eggs-Sokhoeun, grocery (Cambodia): to increase its stock of products-Solihat, dress-maker (Indonesia): to buy more sewing equipment-Nancy, small ready-made meals (Peru): to increase the variety of ingredientsThe student associations Action for Benin and Mission Quechua have also got their members to join in and support entrepreneurs in Benin and Peru!
A big thank you to all the students who decided to support these entrepreneurs and bravo to everyone else who took part in the challenge!The organizers say that almost €42,000 were raised in total over the 16 campuses: a real win for solidarity