Youth given chance to create own micro-enterprise
TORONTO, ON—Opportunity International Canada is giving young adults the chance to change the world with $100.
Through the Micromax challenge, teams are given a short-term loan to use for fundraising. Those with the best fundraising project win a trip to Colombia to witness the organization's micro-financing work firsthand.
"We're giving people in Canada a small taste of what it's like to have a very limited amount of resources and to take that and turn it into something a lot larger," says Adele Madonia, who coordinates Opportunity International's Young Ambassadors for Opportunity program.
"Micro-finance as a concept isn't always accessible to people," she adds. "The Micromax challenge not only gives people the opportunity to feel connected to what we're doing on the other side of the world, as they bring the challenge to their networks, their friends and family begin to understand and get a taste of micro-finance as well."
Applicants must be between the ages of 18 and 35 years old, and have until June 15 to raise funds. Teams can have between one to three participants. While the amount of money raised is one of the criteria for winning, teams will also be judged on developing a business plan, setting goals and networking.
"The neat thing about it is that they get to choose the fundraiser which appeals to their personality and skills," adds challenge coordinator Laura Glick.
Teams from across Canada are taking part in the challenge. Fundraisers include a charity poker tournament, a Colombian-themed silent auction, a documentary event and a greeting card enterprise.
"We decided to take part in the challenge because it allowed us a small window of understanding into micro-finance," says Lee Carter, who is organizing a "Stress Week" fundraiser at Trinity Western Campus including paint-ball and the opportunity to smash a car with a baseball bat.
"What excites me most," Carter says, "is that it gives us a tangible way of experiencing and understanding how Opportunity International does what it does."
Glick hopes the challenge will "pay respect to the ingenuity and perseverance" of those who rely on micro-finance loans to change their family's lives.
"It's a fun challenge because it emulates the serious challenges people undergo," she says. "It's not a matter of just going out to one person and saying, 'Will you donate for me?' because that doesn't work in the real world."
The Catalyst Foundation is providing the initial $100 loans. Money raised from the challenge will be used to expand Opportunity International's micro-finance work into a new area of Colombia.
Madonia says there are still some loans available for people who want to join in the challenge.
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