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Crossing the Chasm Challenge (CCC)
CO-CREATING SOLUTIONS FOR SOCIAL ENTERPRISES.
ARE YOU READY FOR THE CHALLENGE?
The Crossing The Chasm Challenge (CCC)
“The Crossing The Chasm Challenge was conceived in 2016 as an initiative to build capacity in the social eco-system in Singapore and across Asia. It is designed to bring together corporates, social enterprises and tertiary students to be change-agents for good.
We want to develop a new generation of business leaders who are not only sensitized to social and environmental concerns but are also trained to engender systemic change where there are market or government failures. CCC hopes to catalyse resources for many other social enterprises that are challenged in crossing this developmental gap.”
Lam Swee Sum Director, Asia Centre for Social Entrepreneurship and Philanthropy, Associate Professor of Finance, NUS Business School
Organised by the Asia Centre for Social Entrepreneurship & Philanthropy (ACSEP), student teams design solutions and solve problems faced by the social enterprises they are paired with, under mentorship by various marketing experts from multi-national corporations.
Helping social enterprises cross the “chasm”
What sets CCC apart from other marketing competitions out there? CCC is focused on helping pioneering social enterprises that are around three years old stuck at the “chasm”. They are too large for seed-funding but are still too small for accelerator grants or impact investors. The revenue of these social enterprises ranges from $100,000 to $250,000 and need working capital of about $50,000 to $250,000 to scale their impact or become large enough to be considered for investment by impact investors.
By helping these social enterprises achieve financial sustainability and fulfil their social mission, the challenge not only gives social enterprises the chance to reach maturity, but also contributes to the overall development of the social enterprise ecosystem.
The Four Wins
Based on a theme obtained from the UN Sustainable Development Goals (SDGs), the challenge consists of a four-win concept:
Win 1 Social Enterprises obtain useful new ideas and talent
Win 2 Impact & Philanthropy Investors strengthen the quality of their portfolio and identify new pipelines
Win 3 Students gain meaningful real-world experience and knowledge
Win 4 ACSEP gains differentiated and impactful topic areas for future research