Do you have what it takes? It starts with an idea to make the world a better place.

In universities around the world, students like you explore countless ideas every day, including solutions to tackle social problems — and help people in need reach their fullest potential. If you have a world-changing idea, the University of Texas and Dell want you to share it by entering The Dell Social Innovation Competition.

The only limit to the range of projects eligible for the award is the ambition and imagination of each contestant; any significant social issue can be addressed in this competition.

The Dell Social Innovation Competition operates like a business-plan competition, awarding seed funding directly to the student-led venture that best meets the judges’ criteria.

The competition has 4 stages:

1. College students from around the world enter the competition online, each with a brief description of his or her innovation.
2. Competition judges invite a small group of semifinalists to develop their ideas into detailed venture plans. Each semifinalist records a 3-minute video pitch of his or her plan.
3. Judges select 3 finalists to travel to Austin, Texas, to present their plans to a committee comprised of leaders from the business, non-profit and government sectors.
4. During the final event, held at The University of Texas at Austin, all finalists receives prizes, and the overall winner receives $50,000 to launch his or her venture.

Round 1 – Deadline February 14, 2011 5:00PM Central Standard Time (CST)

Grand Prize: $50,000
The team or individual with the most ingenious entrepreneurial idea to change the world wins the grand prize of $50,000 in seed funding to launch or expand their idea.

The Tomberg Prize in Environmental Sustainability: $10,000
The Tomberg Family Philanthropies encourage the development of effective and practical solutions to environmental sustainability by challenging students to dream green. Competition entries addressing the environment are eligible to win a special $10,000 prize.