PHASE: Pilot
CATEGORY: Economic Dev
IK NEXTIA
North America

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To encourage, guide and provide support for socio-economic regional development through students´ participation–based comprehensive model that fosters strategic and confidence networks with the social entrepreneurs.

Standings & Awards

422 out of 422 in North America
268 out of 268 in Economic Dev
573 out of 573 in Pilot
992 out of 992 in Charitable
4003 out of 4003 Overall
Student-based initiative to foster regional socioeconomic development through social entrepreneurship.

IK NEXTIA is a phrase in Nahuatl which translates into, to create with the wind that nurtures. And that is exactly what we are all about; we are a group of concerned students and faculty members who stride towards helping to build a better country for future generations.

 We believe that change can be achieved if we bring better opportunities to people who live in the more undeveloped parts of our country and give them a new hope, showing them that good things can be achieved if things are done legally and in the correct manner.

In IK NEXTIA we not only help them create, we also nurture their growth because through a comprehensive model of student participation we:

1. Promote social entrepreneurship within the zone of influence of the social incubators of I.T.E.S.M.* 

2. Improve and develop the skills of entrepreneurs to strengthen their small businesses.

3. Establish strategic and long-term trust networks with the beneficiaries of the Project.

4. Encourage entrepreneurs to start-up their businesses based on values and principles.

5. Generate a mutual commitment between the entrepreneurial community and the project to support other small businesses in reciprocity of the benefit received.

 6. Fund the projects based on the social capital that can be achieved by giving microfinance on a yearly 10% administrative charges rate.

7. Potentialize the impact that can be achieved by using the comprehensive students’ based model and all of its resources.

*http://www.itesm.mx/incubadorasocial/isdesc.htm

FIVE PROJECT QUESTIONS Required (60 - 90 minutes)

1. What is your innovation? 
The innovation lies in the model of student participation. The model is created so that students are actively involved during all stages of the project. These stages are: approaching communities to identify agents of change, fundraising through the work of various student groups, training social entrepreneurs and the final selection of projects and entrepeneurs to support based on trust.
2. Who gains the most? 
People with less opportunities who live in the more undeveloped parts of our country looking to improve their lifestyle through work, effort and social entrepreneurship. We will be creating an entrepreneurial culture and fomenting values that ​​are transmitted to both the entrepreneur and his or her family.
3. Who pays? 
The funds used to microfinance the social entrepreneurs are generated through student group events, such as discussion forums and symposiums, and through alumni donors who wish to support the cause and help the growth of the more undeveloped parts of our country. But we are also open to all donors who believe in our project.
4. What is your success? 
We are currently in the process of developing an award with the help of the CEMEFI (Centro Mexicano para la Filantropía A.C.) that uses delimited markers such as if the entrepreneur was able to pay the loan in full, the amounts of jobs created, and other social impact markers. 12 months: Have at least 8 projects under microfinance. 3 years: That all of our social entrepreneurs reach the new award standard 5 years:Have a sustainable and replicable model so that the project can be adapted.
5. How will you do it? 
We are in the process of becoming an NGO. And we will achieve success by changing the environment of the entrepreneur looking for constant improvement for the economic growth and social development of their community. But the most important part is that the project is based on a model student participation so that we can maximize the use of both the economical and personal resources available to achieve the best results.