2021 TPrize Challenge
How can under-resourced populations across Latin America and the Caribbean develop the necessary skills to access good jobs, better opportunities, and overall well-being?
FAQ
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What are the eligibility requirements for applying to the TPrize Challenge?
How are we CrowdSolving the TPrize Challenge?
What type of solutions will be accepted to the TPrize Challenge?
How will my solution be evaluated?
What is the TPrize Challenge Timeline?
What can I win if my solution is selected?
What are the eligibility requirements for applying to the TPrize Challenge?
The TPrize Challenge is open to:
Any applicants already working in or plan to expand their solution to the Latin America and Caribbean region.
Individual applicants who are at least 18 years old, or teams in which one member is at least 18 years old.
Submissions in English, Spanish, or Portuguese
Solutions which are at least at a prototype stage. TPrize Challenge does not accept idea or concept stage solutions.
Applicants can be individual students, entrepreneurs, teams, or established start-ups. If you have a relevant solution, we hope you’ll apply!
How are we CrowdSolving the TPrize Challenge?
SOURCING SOLUTIONS Anyone who meets the criteria above can participate in the TPrize Challenge and submit a solution. Whether you have a prototype or scaling your enterprise, we’re looking for innovators and entrepreneurs with the best solutions.
SELECTING SOLUTIONS Once the submission deadlines pass, judging begins. After an initial screening by TPrize and Solve staff, TPrize Challenge judges select the most promising solutions as Finalists. These Finalists will be invited to pitch their solutions live at a TPrize Challenge Virtual Pitch Event, where judges will select the winners.
What type of solutions will be accepted to the TPrize Challenge?
The TPrize Challenge considers solutions at various stages of development.
Prototype: A venture building and testing its product, service, or business model. Typically described as "Pre-Seed" if For-Profit.
Pilot: An enterprise deploying a tested product, service, or business model in at least one community. Hybrids and For-Profits would typically be in a "Seed" round and starting to generate revenue (whether or not they are cash flow positive).
Growth: An enterprise with an established product, service, or business model rolled out, which is poised for further growth in multiple communities or countries. Organizations at this stage should have a clear path towards financial sustainability whether they are nonprofit or for-profit. For-Profits at this stage would be "Seed" or "Series A.”
Scale: A sustainable enterprise working in several communities or countries and that is looking to scale significantly, focusing on increased efficiency. For-Profits in this stage would be "Series A" or "Series B."
The most important thing is that your solution addresses the focus of the TPrize Challenge.
How will my solution be evaluated?
The judging committee for the TPrize Challenge will be comprised of experts and leaders from across industries. After an initial screening by TPrize and Solve staff, the judges will score the screened solutions based on the following criteria:
Alignment: The solution addresses the challenge that has been set forth.
Potential for Impact: The planned solution implementation has the potential to impact lives and drive economic growth in Latin America and the Caribbean.
Scalability: The solution can be scaled to affect the lives of more people.
Feasibility: Solution implementation is feasible, and the team has a plan for financial sustainability.
Innovative Approach: This is a new solution, a new application of a solution, a new business model, or a new process for solving the challenge, and the team clearly identifies its competitive advantages (e.g. intellectual property)
Inclusive Human-Centered Design: The solution is designed with and for underserved communities, and the solution team demonstrates proximity to the community and embodies and addresses diversity, equity, and inclusion through their solution.
Selected finalists will pitch before the TPrize Challenge judges and audience during a virtual pitch event in November. Selected finalists may pitch in English, Spanish, or Portuguese. The judges will determine which solutions are the most promising and those selected will receive prize funding and support from TPrize.
What is the TPrize Challenge Timeline?
June 10, 2021 - TPrize Challenge opens
September 3, 2021 - Deadline for applicants to submit a solution
October 2021 - Finalists announced
November 2021 - Virtual Closed-Door Pitch Event for Finalists
TBC December 13, 2021 - Public Pitch Event + Winner Announcement at the International Conference on Educational Innovation (CIIE)
What can I win if my solution is selected?
Finalists will be invited to a pitch event to present their solutions in English, Spanish, or Portuguese in front of distinguished judges. A US$100,000 prize pool is available for the finalists and winners of the TPrize Challenge.
Each Finalist team will receive US$5,000. Each winning team will receive US$15,000.
Being selected as a winner is about much more than just prize funding. In addition to funding, TPrize will be providing customized follow up support for winners, including mentorship, networking connections with experts and key industry leaders, and other activities to help incubate, scale, or accelerate solutions across Latin America and the Caribbean.
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