Meaningful progress on complex social issues depends in part on the entrepreneurial ideas and energy of the next generation. In recent years, we have seen a sustained increase in HBS students launching social impact ventures. In response to this exciting interest, for the first time this year, the Social Entrepreneurship Fellowship will support a graduating HBS student who is launching a social enterprise that will create significant social or environmental value in a sustainable manner.
The fellowship is selective and will be given to one student in 2025.
The maximum award amount is $65,000. The award is designed to bridge the gap between the recipient’s salary and $130,000. For example, if the recipient’s salary is $95,000, the Fellowship may be up to $35,000 (all figures are in US dollars).
Application deadline: April 1 at 12:00 noon ET. Decisions will be released on April 22nd.
Eligibility and selection are determined by a Review Committee of faculty and staff.
If you would like to have a conversation to assess your eligibility for the Fellowship, please contact se@hbs.edu.
Note: You may participate in the Fellowship and one of the three HBS loan reduction programs for which you qualify: HBS Social Enterprise Loan Repayment Assistance Program; HBS Loan Reduction for Private Sector Employees Program; HBS Rock Center Loan Reduction for Entrepreneurs. Your award will be included in your income calculation for these programs. The loan assistance programs require that you receive need-based financial aid while enrolled at HBS, and each program has distinct eligibility requirements, application processes and deadlines, and award criteria. The total amount of post-graduation career exploration funds that an HBS graduate may receive in their lifetime from all HBS and Harvard University sources is capped at $150,000.
Award payment: You will receive your Fellowship funds in two disbursements, each for half of the total award amount. The first payment will be sent to you in July after graduation. The second payment will be sent six months later. Prior to the second payment, award recipients will be required to submit a mid-year report detailing project milestones and challenges, if any. Award recipients will be required to participate in regular (minimum quarterly) touchpoints with HBS staff and faculty.
Please note that Harvard may not be able or willing to make payments to students from countries on the United States Treasury Department's Office of Foreign Assets Control (OFAC) Sanctions; or to individuals identified by name or related to or connected with anyone on the Specially Designated Nationals List.
Changes in employment: Funding is provided to the recipient for a specific opportunity and may not be transferred to a new opportunity without review and approval of the Review Committee. You must inform HBS if, during the time between when you are granted a Fellowship award and your employment start date, you decide to close your venture.
You are required to inform HBS if, within 12 months of your employment start date, either of the following occur:
Applications will be evaluated on the following criteria:
Commitment to social impact: Applicant has demonstrated engagement in social impact while at HBS and has pursued opportunities to explore the area of focus and development of their idea.
Fit with career path: Applicant has demonstrated how the fellowship fits into their career goals 1-3 years after HBS.
Social impact: The social or environmental issue the organization seeks to address is clear and the business model is likely to make a substantial contribution toward the solution of the issue it seeks to address and can be sustained for a period of time consistent with achieving the desired social impact. (If growing the organization is not the preferred strategy, the program is transferable and replicable.)
Idea/Concept: The concept reflects an innovative approach to the impact you seek to have. The team has a clear understanding of the issue it seeks to address, why the issue is important, the recipients of the product or service, economic and social drivers of the model, and feasibility of the concept.
People: The individual (through its team, advisors, or partnerships) has or can get relevant skills, contacts, industry knowledge, and experience, including capability to support and engage a diverse team and community of stakeholders.
Proximity: Idea is built on an understanding of the community it serves and system within which it operates. The plan identifies the social and/or environmental issue that is currently insufficiently addressed and focuses on needs that are relevant to impacted stakeholders. The team brings personal experience or draws on community members to execute the idea.
Context: The conditions (i.e., regulatory, tax, political) are favorable. Market need, size of opportunity, competitive landscape, and potential risks are identified and manageable.
Resources: The funding plan is sensible in terms of the capital required to launch and operate. Funding sources are identified and a plan for securing initial investment is articulated.
Performance Measurement: The plan takes a practical approach to milestones and organizational outcome measurement and provides a clear plan to deliver high performance that is durable, sustainable, and relevant to the stakeholders.
Risk: The plan addresses the risk to people and planet that impact does not occur as expected, due to evidence risk, external risk, stakeholder participation/drop-off risk, efficiency risk, execution risk, alignment risk, endurance risk, or unexpected impact risk.
Download the application here.
By April 1 at 12:00 noon ET: Submit your application to se@hbs.edu
The application includes a form with individual and venture details; and three supplemental documents: personal statement, resume and executive summary.
Executive summary should include the following information about your venture :