FREQUENTLY ASKED QUESTIONS
Social vs. Commercial Entrepreneurship
What is the difference between social and commercial entrepreneurship?
Social entrepreneurship follows the same principles of business design as the commercial side, except the focus is on social sustainability and societal interests.
Social track teams are asked to think through their social impact as well as financial impact. See additional information on the criteria used to judge social track teams under the judging criteria and competing tracks sections of the website.
Can social entrepreneurship ventures make a profit?
Yes. The line between commercial and social entrepreneurship is becoming blurred. However, the focus is on social and environmental issues, as well as sustainability.
General
Do you need a business background?
Absolutely not. Not only will the Carolina Challenge team provide you with numerous resources as far as business plans and other business-related issues are concerned, but UNC has a plethora of faculty and staff that would be more than willing to share their knowledge with students.
How do I win?
With passion and with sweat-equity—there is a correlation between the amount of time teams spend on their ventures and how well the teams do.
