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Tuesday, January 22, 2013

Coke announces youth issues competition

The Coca-Cola Company today announced US$ 100,000 of funding for a major World Economic Forum initiative aimed at helping exceptional young people take action on issues they care about in more than 200 cities worldwide.

The funding is offered in a competition aimed at more than 1,700 entrepreneurs, social activists and “positive disruptors” who make up the Global Shapers Community. It will provide seed financing for Shapers’ projects that address some of the most pressing problems in their communities.

To win, Shapers must demonstrate the benefits of their initiatives over the next 12 months. The winning project will be granted US$ 50,000 to expand its reach, while five additional projects will each be granted US$ 10,000 to sustain and expand their efforts.

A panel representing the Global Shapers, the Schwab Foundation for Social Entrepreneurship, The Coca-Cola Company, governments and members of civil society will select the most impactful projects. The criteria include:
  • importance of the issue addressed
  • number of lives impacted
  • overall return on investment
  • ability of the project to be scaled or replicated
The winners will be announced at the World Economic Forum Annual Meeting 2014.

“A challenge to spark and expand innovative ideas from the world’s young leaders is exactly what our world needs today as we look to create new growth in the global economy,” said Muhtar Kent, Chairman and Chief Executive Officer, The Coca-Cola Company.

“With more than half of the world’s population under age 27, it’s clear that solving current and future challenges is dependent upon involving the ideas and energy of the millennial generation. Our support of the Global Shapers recognizes a belief that talent and leadership to create new growth and solve societal problems can come from anywhere, not just from governments or businesses,” Kent said.

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