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Over $650,000 in Prize Funding Available for the New Global Challenges

Today we kicked off Solve at MIT with brilliant speakers, thought-provoking discussion, and some very exciting announcements.

Our purpose at Solve is to advance promising solutions to the world’s most pressing problems. Once we discover our global innovators and select them as Solver teams, we deploy a community of private, public, and nonprofit leaders to build the partnerships they need to scale impact.

To date, these transformational partnerships have included funding, mentorship, technical expertise, media and conference exposure, and business and entrepreneurship training.

Today, we’re thrilled to announce over $650,000 in prize funding as well as other resources for future Solver teams selected in Solve’s four new Global Challenges: (1) Work of the Future, (2) Frontlines of Health, (3) Coastal Communities, and (4) Teachers & Educators. Challenges are open until July 1, and anyone can apply.

What’s in the New $650,000 Prize Pool?

At the opening plenary, we announced that each Solver selected at the Solve Challenge Finals in September will receive a $10,000 grant from Solve. We’re delighted to be able to provide our own funding to these amazing entrepreneurs.

In addition, Ken Kelzer, General Motors’ Vice President of Global Vehicle Components and Subsystems, announced the $100,000 General Motors Prize for Advanced Technologies. General Motors will split this prize between up to four Solver teams whose solutions deploy advanced technologies to address Solve’s Work of the Future and Teachers & Educators Challenges.

Further, the Patrick J. McGovern Foundation will provide up to $200,000 of grant funding as part of the Artificial Intelligence for the Betterment of Humanity Prize. Eligible solutions will use artificial intelligence and machine learning to improve the human condition. Up to four recipients will be selected from any Solve 2018 Challenge to receive an initial grant of $25,000. One of these recipients will then be eligible for an additional grant of $100,000 to be announced at Solve at MIT in May 2019.

$1.5 Million Split Between Eight Youth, Skills & the Workforce of the Future Solver Teams

During last year’s Solve at MIT, the Australian Department of Foreign Affairs and Trade (DFAT) and Atlassian Foundation International announced a collective pledge of $2 million in prize funding for Solver teams. In September 2017, they awarded 10 Solver teams $50,000 grants to advance their solutions. Today, Mark Reading of Atlassian and Nicola Watkinson representing the Australian government revealed the Solver recipients of the remaining $1.5 million pool of prize funding.

Second-round funding recipients include:

We can’t wait to see the impact this funding will have on Solver teams as they scale their solutions, improving the lives of millions of people around the world.

Are you an innovator or entrepreneur? If these prizes pique your interest, learn more about Solve’s Global Challenges. We encourage everyone, everywhere to apply by the July 1 deadline.

If you’d like to support our Solver teams, you can now donate to our new gift account. 100 percent of your donation will go to activities for the Solver teams. The activities may include but are not limited to, grants and travel for Solver teams, events, workshops, and training.  

Tune in to the rest of Solve at MIT. Livestream our inspirational plenary sessions here.

Ken Kelzer, General Motors’ Vice President of Global Vehicle Components and Subsystems, announces the General Motors Prize for Advanced Technologies at the Opening Plenary on "The Heart of the Machine" during Solve at MIT, May 16, 2018. (Photo by Adam Schultz / MIT Solve)

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