The Massachusetts Institute of Technology’s Inclusive Innovation Challenge is an initiative of the MIT Initiative in the Digital Economy. It supports the entrepreneur’s economic growth and development by rewarding their solution-driven innovative technology. Hundred entrepreneurs from Asia, Africa, Europe, Latin America, USA and Canada will be awarded at the end of the program. A total of $1.6 million prizes will be awarded to entrepreneurs in four categories, including $250, 000 each, to the four leading organizations.
For the first time, MIT will partner with Liquid Telecom to bring the challenge to Africa. Liquid Telecom will help recruit and screen participants from Africa through its Innovation Partnerships Initiative, aimed at supporting digital technology innovation across Africa.
See also: British High Commission to Nigeria, EFInA to Power Financial Inclusion using Fintech
For five years now, 3000 organizations have registered to participate in the Inclusive Innovation Challenge from over 100 countries. Over forty entrepreneurs have benefited and last year, 100 winners were awarded a total of $3.5 million for their ground-breaking solutions in agriculture, healthcare and more. The winning organizations were selected by the IIC Champion Committee from 20 Regional Winners across the continents.
The challenge cuts across financial inclusion, job creation, skills development, opportunity matching and income growth. Registration is ongoing and the deadline the 9th of May. On the 23rd of July, regional finalists will be announced and the selected winners will be awarded the Global Grand Prize on the 21st of November.
Eligibility Criteria
Entrepreneurial organizations from anywhere in the world are welcome to apply. The organization should:
- Use technology to improve economic prosperity for working people
- Go beyond the idea phase to enhance shared prosperity
- Impact more people and increase effectiveness over time
To proceed with the application, please click here.
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