An innovative business competition launched this fall will give students a starring role in a new mtvU show, $25,000 in cash and the honor of ringing the opening bell of the New York Stock Exchange.

The business competition, called “Movers and Changers,” asks college students across the country to design a sustainable and socially responsible business plan that makes a positive impact on the world.

MTV Vice President of University Relations Carlo DiMarco said this competition puts an activist spin on the business competitions that are common across many college campuses.

“We didn’t see there being any significant business competitions that were focused on social entrepreneurs,” DiMarco said. “We know college students are on the frontlines of social change and if anyone has the opportunity to unlock the major issues, it’s them.”

The competition is open to individual college students and small groups of up to three students, requiring them to develop a creative business plan that is replicable on a large scale and is sustainable.

DiMarco said students interested in entering the competition should examine the business model of Blake Mycoskie, founder of TOMS Shoes, which operates under a “One for One” philosophy to donate one pair of shoes to a child in need for every pair of shoes purchased.

“He’s an inspiring business leader and we see how college students are attracted to his business and really support TOMS shoes,” DiMarco said. “It’s people like him with that persistent optimism and that vision for a business model that could create a good business and fix something that is broken in society.”

Although the current economic climate has hindered many new business ventures, DiMarco called it the “right time” for a competition of this magnitude.

“It’s a tough economy, and we’re hoping that this competition affords some people the opportunity to bring their ideas to light,” DiMarco said.

Beth Oporto, managing director in global marketing and branding at NYSE Euronext, said the competition allows college students to take their ideas to the next level and give them the necessary tools they need to get started.

Oporto and DiMarco both said the ultimate goal is not to produce a successful new business, but to foster student’s entrepreneurial spirits, inspire them to think creatively and improve society through business endeavors.

DiMarco encouraged UW students with unique business ideas to enter the competition.

“We know that there are a ton of really bright and socially active students at the University of Wisconsin and we really would like to see them represent the Midwest well in this competition and bring in some big ideas,” DiMarco said.

“Movers and Changers” entries are due by Oct. 16. Three finalists will be chosen to meet with business CEOs in New York City to discuss their business plans, and winners will receive $25,000 to start their business proposal and will ring the opening bell of the New York Stock Exchange.

In addition, mtvU will film the finalists’ discussions with business CEOs and will air the coverage as part of a miniseries called “Movers and Changers” on mtvU.