PRESS RELEASE: Bata Shoe Foundation Announces $25,000 in Award Funding for Young Entrepreneurs
Thursday, September 18, 2014
In commemoration of the 100th anniversary of the birth of Thomas J. Bata, the Thomas J. Bata Legacy Award will support responsible entrepreneurship in emerging markets
NAIROBI, KENYA – In commemoration of the 100th anniversary of the birth of Thomas J. Bata, “Shoemaker to the World,” who died at the age of 93 in 2008, the Bata Shoe Foundation announces the Thomas J. Bata Legacy Award to support responsible entrepreneurship in emerging markets. The Award, which will provide $25,000 in funding for young entrepreneurs, commemorates Mr. Bata’s dedication to responsible entrepreneurship and service, reflecting the Bata family values, and will create a legacy to perpetuate those values
“The real role of business is to give a service by making and selling products that satisfy the want and needs of society, and in doing so to be a caring organization in partnership with community and government,” said Thomas J. Bata before he died.
His widow, Sonja Bata, said of the Award, “It will honor his legacy and perpetuate his values by encouraging young people to build up a business of their own that makes a contribution to society.”
The Legacy Award challenges entrepreneurs 35 and younger to identify a community need in East Africa and share a creative, viable business solution that embraces the Thomas J. Bata values, and addresses the theme of social enterprise and sustainability with a practical business solution. These solutions could either be conceptual or already established small businesses looking for an opportunity to grow.
The submission period will open on November 17, 2014. Submissions will go through two rounds of review by a local and international panel of judges. During Round 1, three to five finalists, as chosen by local jury, will receive mentoring to further develop their business plan submissions. During Round 2, those three to five submissions will be evaluated by an international jury for the opportunity to win a 1st prize of $15,000 in seed funding, or one of two runners up prizes of $5,000 each.
The Thomas J. Bata Legacy Award will be executed and managed by the Global Business School Network. For more information about the award, visit batalegacy.org.
About the Bata Shoe Foundation
The Bata Shoe Foundation commemorates the values of the founder of the Bata Shoe Organization, Tomas Bata, and his son Thomas J. Bata. The Foundation funds projects which reflect the belief of the Bata family that business is a public trust and that corporations should contribute to the well being of communities in which they operate.
For over a decade the Global Business School Network has worked to address the crippling waste of talent and resources in the developing world caused by a severe shortage of people with business and management skills. Harnessing the power of an international network of over 60 leading business schools, GBSN facilitates cross-border networking, knowledge sharing and collaboration that strengthen management education for developing countries. For more information please visit www.gbsn.org.
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GBSN is a nonprofit organization harnessing the power of a network of leading business school to address the critical need for skilled managers, entrepreneurs and leaders for the developing world by increasing access to quality, locally relevant management education.