The Massachusetts Institute of Technology has opened up applications to its MIT Solve Global Challenges 2019. The program is offering up to $1.25 million in prize funding to innovative startups addressing prominent issues around the world.
An annual event, the MIT Solve Global Challenges 2019 seeks to find solutions to globally pressing issues by supporting and funding innovations from across the world. The challenge identifies the most promising tech startups driving transformational change across the world. Then it builds a community of leaders and changemakers to form solid partnerships which these Solver teams need to scale their impact.
In the last two years, MIT has been able to disburse over $7.5 million in funding to Solver teams. This is in addition to non-cash support such as mentorship, technical expertise, media and conference exposure, and business and entrepreneurship training.
Last year saw two Nigerian startups: Healthtech Lifebank and Agritech Coldhubs were among the 33 winners across the four major categories.
Now, the current call for applications is seeking applicants addressing four major challenges. The first challenge is “Circular Economy”, which targets ways to help people create and consume goods that are renewable, repairable, reusable, and recyclable.
The second is “Community-Driven Innovation” challenge, which focuses on how citizens and communities create and improve social inclusion.
The third is the “Early Childhood Development” challenge which looks at enabling children under five develop the critical learning and cognitive skills they need to reach their full potential. And the fourth challenge is “Healthy Cities” which targets urban residents and help them design and live in environments that promote physical and mental health.
All solutions selected in Solve’s four current Global Challenges will receive a N3.6 million ($10,000) grant funded by Solve. In addition, they will become eligible for further funding of up to $1.25 million as well as a network to form partnerships.
Startups of all stages (from startups in the idea stage to those who have already scaled) are all eligible to apply for the challenge. And they will be selected during the finals in September, 2019.
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