The competition has been developed in collaboration with CVC Capital Partners, which aims to support innovation and start-ups looking to create a social impact in Italy.
Now in its fifth year, the competition aims to give students and entrepreneurs in Italy the chance to introduce innovative project ideas.
Those that enter the competition have a chance to win a €40,000 ($47,000) equity-free grant, as well as expert advice to help achieve their goals.
Sisal has also announced this year it will offer an “acceleration path” to help female-led start-ups.
For this year’s competition, candidates have been asked to put forward business ideas in two main categories.
One will look for ideas for a sustainable future that aims to solve societal problems, with a positive long-term impact on the community, while the other focuses on technology that aims to simplify people’s lives.
Winners in each category will gain access to advisory support offered by GoBeyond partners, such as the GEDI Group, Google and Impact Hub Benefit Company.
Francesco Durante, CEO of Sisal, said: "Every year I look forward to the opening of applications for GoBeyond, as I firmly believe that support for young people and their ideas is fundamental for the economic and social progress of a country.
“I believe companies like Sisal should be actively and continually committed to the progress of society. To build a more responsible future, we need to do more to encourage those who are developing innovative ideas to help society.”