The Milken Institute and the Motsepe Foundation today announced the Milken-Motsepe Innovation Prize program, a multi-year project that will focus global innovators and entrepreneurs on creating technical solutions that will accelerate progress toward achieving the United Nations’ Sustainable Development Goals (SDGs), with a focus on Africa.
Multiple technology award competitions in the fields of agriculture, electricity, education, and health will be part of this initiative.
“Technology from the Fourth Industrial Revolution (4IR) has the potential to solve complex socioeconomic and human problems. These innovations, in the hands of entrepreneurs, have the potential to turn Africa into a global economic powerhouse and transform the world,” said Dr. Patrice Motsepe, the Motsepe Foundation’s Founder and Chairman. “Precious and I are ecstatic to be working with Mike Milken and the Milken Institute to launch this prize, which will inspire African and global entrepreneurs to innovate and use 4IR technology to solve some of Africa’s and the world’s most pressing issues, as well as to improve people’s living conditions and standards of living.”
Mike Milken, Chairman of the Milken Institute, said, “My good friends Patrice and Precious Motsepe have long been valued partners of the Milken Institute, particularly in addressing global health issues.” “The leadership of the Motsepe Foundation has been highly influential in Africa and inspiring to people all over the world. I’m thrilled that we’ll work together once more to promote long-term technical progress and improve farmers’ human resources so they can play a bigger role in maintaining a more competitive regional economy.”
“This prize competition will tap into global entrepreneurial and technological potential, including among women and the growing youth population across the African continent and worldwide,” said Dr. Precious Moloi-Motsepe, Co-founder and CEO of the Motsepe Foundation. We are optimistic that the competition will draw a diverse community of participants from around the world who are looking for a wide network of tools to help them put their creative ideas into action.”
To establish the competition guidelines and evaluation metrics, the Milken-Motsepe Prize in AgriTech was created through comprehensive and inclusive consultations with more than 50 experts from a variety of disciplines, representing academia, industry, and government. Field research will take place in Africa, and the technologies should have global application potential.
Dr. Emily Musil Church, senior director of the Milken Institute’s Center for Global Market Growth, said, “Prize competitions foster creativity, diversify the talent pool, and empower new voices from young entrepreneurs to experienced engineers.”
“We are excited to launch this approach to advancing the SDGs, which will use technology to address global problems and develop true change systems.”
From seed to sale, the Milken-Motsepe Prize in AgriTech is a $2 million (USD) global competition for innovative solutions that improve economic value for farmers.
Up to 25 teams will be chosen by an impartial panel of expert judges to receive $10,000 each to produce small-scale prototypes over the next six months.
Teams must register and apply designs and business models by December 8, 2021.
To apply or for more information visit the website.
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