Applications are open until Sunday, Nov. 5, for the Social Venture Competition. The competition, hosted by the UCF Center for Entrepreneurial Leadership (CEL), challenges students to pitch business ideas that serve a higher social purpose. Scholarship awards, sponsored by State Farm, total over $4,000.

The easy application requires students to answer six questions about their proposed venture. The questions focus on the possible social impact and financial sustainability of the business model. Select applicants will then be invited to pitch their idea to a panel of judges at the competition Nov. 15 from 3-5 p.m. in the Starter Space. The top venture idea wins a $2,000 scholarship and the four runners-up will also receive funding.

Students may get creative in finding a cause that’s meaningful to them to inspire their venture idea. Winning startups from previous years include a shoe company that provided jobs to impoverished citizens of Colombia and a non-profit that provided free health screenings to the homeless. By holding the annual competition, the CEL encourages students to use their creativity and business savvy for good.