With millions unemployed, Europe is facing a major economic and social challenge. One approach to tackling the problem has come in the form of a European Union funded social innovation competition, which rewards ideas that help people – especially from marginalised groups – to find work. A project might offer a new way for people to highlight skills, for example, provide a job-matching service for a particular group of jobseekers, or support startup businesses.
As well as each of the three finalists being awarded €30,000, the competition gives them a chance to showcase their ideas, network with other innovators and attract investment.
This year the contest attracted more than 1,200 entries, which were whittled down to 30 based on the judges' criteria of innovation, sustainability and scalability. Here are the stories behind two of this year's winning ideas:
YouRock – helping young people into employment
Ian Clifford, founder of YouRock, wanted to do something to help young people have more control over their employability. Aware that young jobseekers tend to avoid LinkedIn due to its focus on work history and connections – the very things that they lack – he saw a gap in the market. YouRock enables users to identify skills through their interests and everyday activities and create a profile visible in a number of different European languages.
Candidates' skills are matched to business skills. A recent study by ICM Research revealed that many CVs look the same and don't give enough prominence to personal achievements and real-life experiences, so this gives candidates on the site a real advantage.
The company is expanding rapidly and is planning to generate revenue through advertising, sponsorship and user survey data. The site is currently available in 14 languages – covering 20 countries – with more languages planned.
Ian's advice to entrepreneurs is to believe in your idea and doubt every part of it until you have no doubts left. Knowing that your concept is solid and understanding how it matches your own values will give you the necessary confidence to present it to others, he says.
This was crucial at the initial stages when he needed funding to develop his idea. Ian used Crowdfunder and ran a hackathon to create the prototype for the site. For crowdfunding to be successful, you need a convincing idea that you can present simply and to research the right platform to use. Be realistic in the amount of money you need and set achievable targets, he advises.
Progetto Quid – creating jobs for disadvantaged women
After working in humanitarian and social projects in India and Haiti, Anna Fiscale found a way to combine her passion for personalising clothes with a project to help marginalised women in her home town of Verona, Italy.
Progetto Quid recovers unused or slightly damaged textiles from fashion companies and uses them to hand produce limited clothes collections – training and employing a team of women to design, make and sell the clothes.
The project is focused on sustainable growth and is expanding by setting up temporary shops and building partnerships with companies interested in ethical fashion.
Keeping costs down is crucial to ensure sustainability. While fashion companies typically spend money on advertising and retail space, and then outsource manufacturing to developing countries, Quid obtains the textiles and previously empty shop spaces for free, leaving them with enough capital to pay their workers. Short production times eliminate warehousing costs and producing limited quantities means they can react quickly to changing customer preferences.
Anna's advice to get a project off the ground is to knock on doors, be passionate and well-prepared, and to get feedback from people in the industry.
Working with others can also fill skills gaps. Quid meetings with potential partners involve one person to "communicate the passion" and another to "communicate the numbers". She says that it's important to have a good business plan and to demonstrate knowledge of budgeting and cashflow if you want to generate business or attract funding.
How to get involved
The competition is open to anyone in the EU, with the next round launch in 2015. As well as the prize money, finalists and semi-finalists were funded to attend a two-day workshop hosted by Euclid Network and Nesta, which offered one-to-one mentoring and advice on how to pitch to investors and where to find financial support.
The EU also funds the Erasmus for Young Entrepreneurs programme. Aspiring entrepreneurs are matched with seasoned business people to allow them to get experience for launching their business. To find out more about both initiatives, contact the Euclid Network.
Alternatively, if the idea of social innovation appeals to you, but you want to combine it with your existing job, the network Impact Lab helps professionals find projects where their skills can be put to good use.
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