Applications are now open for a business competition aimed at discovering social entrepreneurs who challenge gender inequality with vision and innovations.

CSI Challenge 4 (The fourth Cloud Social Investment Program) consists of “Social Business Competition” and “Crowdfunding” to discover and invest in social entrepreneurs who jointly with ARUN, challenge gender inequality with vision and innovations.

The issues of “gender inequality” that are still deeply rooted in our society have become a greater challenge than ever in the wake of COVID-19 pandemic.  Numbers of data indicate larger impacts on female populations, such as job losses, income decline, malnutrition and increase in out of school girls and domestic violence.

In light of this situation, CSI Challenge 4 invites Social entrepreneurs who are addressing the issue of  “gender inequality”.

The winner will receive an investment of up to US$50,000, support and advice from ARUN Seed. The financing comes from a combination of crowdfunding and sponsorship funds.

*Investment amount is subject to change due to the result of crowdfunding, exchange rate and/or investment due diligence.Deloitte Tohmatsu Group separately provides awards** and the winner(s) receive total grant up to US$25,000.

**Deloitte Tohmatsu Group promotes a global Initiatives called WorldClass*, which aims to have a positive impact on a cumulative total of 100 million people worldwide by 2030 through contributions to Education, Skills and Opportunity. Deloitte Tohmatsu Group (Deloitte Japan) supports CSI Challenge 4 as the main sponsor. 

<About CSI Challenge 4>

CSI Challenge4 is the fourth in a series of initiatives implemented since 2016 to promote social impact investments. In this challenge, through a combination of the Social Enterprise Competition and Crowdfunding, ARUN focuses on identifying and supporting social entrepreneurs who aim to solve social problems through their own innovative businesses. The competition also aims to create a platform to connect entrepreneurs with Japanese firms and supporters.

The final round will be held in January 27, 2023 with the participation of a panel of judges led by Prof. Seiichiro Yonekura, a director of ARUN Seed and a professor emeritus at Hitotsubashi University. The winning entrepreneurs will receive a variety of incubation support, including advice on business models as well as investments necessary for business growth.

CSI Challenge 4 is supported by Deloitte Tohmatsu Group as the main sponsor, and also by Sasakawa Peace Foundation, MS&AD Unison Smile Club, Japan International Cooperation Agency, and individual supporters participating in the crowdfunding. 

Discovering and supporting social entrepreneurs who are addressing the issue of  “gender inequality”.

Eligible applicants

  • In order to qualify for CSI Challenge 4, the enterprise must be:
  • A company that provides innovative business solutions to address social issues with the aim of achieving social justice.
  • Have at least three years’ track record in the field
  • Be operating and for a profit-making business
  • Incorporated with legal status
  • Be providing innovative solutions on gender diversity

Types of organizations that are NOT eligible to apply:

・Non-profit organization, scholarships, or research projects
・Organization based on political or religious purposes

How to Apply
Application Deadline: November 30, 2022, 23:59 JST
Here’s how to submit your application for CSI Challenge 4: 

1)Fill out the online application.
2)Submit your presentation document by E-mail to
 (Please see below Application Website for the details)

<Application Website>

<About ARUN Seed>

ARUN Seed is an approved specified non-profit corporation established for the purpose of promoting, developing and researching social investment. ARUN Seed conducts research on social investment in developing countries, disseminates information, and promotes social investment through networks with other organizations that promote impact investing and social business, and disseminates information from Japan to the world.


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