Frequently Asked Questions

Macquarie Group:

Macquarie is a global financial services group headquartered in Sydney, Australia and operating in asset management, retail and business banking, wealth management, as well as advisory, and risk and capital solutions across debt, equity, financial markets and commodities. Through unlocking capital and ideas, Macquarie Group creates investment opportunities while helping facilitate economic activity, address unmet community needs and advance long-term prosperity.

The Macquarie Group Foundation drives social impact work for Macquarie Group. The Foundation supports people, businesses, and communities to build a better future, and engagement with Macquarie employees is at the heart of everything the Foundation does.

Recognising that many people around the world face systemic barriers to employment, the majority of the Foundation’s funding focuses on breaking down these barriers and building effective pathways to employment.

Visit macquarie.com to learn more.

MIT Solve:

Solve is an initiative of MIT. Solving is core to what we do. We believe that to build a better future for all, we need new voices and ideas. We launch open calls for brilliant and bold tech-based solutions that solve big problems from anyone, anywhere in the world. To date, 280 million lives have been reached. Selected innovators get the backing of MIT and our community of supporters to scale their impact and drive lasting change.

• Solutions can be for-profit, non-profit, or hybrid models.

  • Government entities are not eligible to apply to this prize independently. Organizations from eligible sectors (including non-profits, social enterprises, academic institutions, and private sector organizations) may apply and may work in partnership with government entities. In such partnerships, the government entity may not be designated as the lead applicant organization, and the Team Lead must be affiliated with the eligible (non-government) organization.

• Solutions must be headquartered or deployed in Brazil, Australia, and/or the Pacific Islands.

• Solutions must have at least one FTE (full-time equivalent) team member.

• Solutions must be enabled by technology.

• Solutions must be at least at the pilot stage.

  • Solutions that are at the concept or prototype phases are not eligible for selection.

• Applications must be written in English.

Anyone who meets the criteria above can participate in the Prize and submit a solution.

For the purposes of this prize, the Pacific Islands are defined according to the Australian Department of Foreign Affairs and Trade (DFAT). Under this definition, the Prize includes the following countries and territories across Melanesia, Micronesia, and Polynesia:

American Samoa; Commonwealth of the Northern Mariana Islands; Cook Islands; Federated States of Micronesia; Fiji; French Polynesia; Guam; Kiribati; Nauru; New Caledonia; Niue; Palau; Papua New Guinea; Pitcairn Island; Republic of the Marshall Islands; Samoa; Solomon Islands; Tokelau; Tonga; Tuvalu; Vanuatu; and Wallis and Futuna.

The Prize defines technology broadly as the application of science and evidence-based knowledge to the practical aims of human life. We welcome solutions that are using apps, Short Message Service (SMS) technology, software, artificial intelligence (AI), robots, drones, blockchain, and virtual reality. We welcome solutions that leverage traditional, ancestral, and natural technologies and knowledge systems.

The Prize considers solutions that are at least at the pilot stage. The Prize will not consider solutions in the concept or prototype stages. See below for definitions of stages.

Ineligible stages:

• Concept: An idea being explored and researched for its feasibility to build a product, service, or business model, including prototypes under development. Until the solution has a functioning prototype, we would still consider it a Concept.

• Prototype: An initial working version of a solution that may be in the process of getting initial feedback or testing with users. If for-profit, a solution that has raised little or no investment capital. Until the solution transitions from testing to consistent availability, we would still consider it a Prototype. (Often 0 users/direct beneficiaries)

Eligible stages:

• Pilot: The solution has been launched in at least one community, but is still iterating on design or business model. If for-profit, is generally working to gain traction and may have completed a fundraising round with investment capital.

• Growth: An established solution available in one or more communities with a consistent design and approach, testing and validating product-market fit and ready for further growth in multiple communities or countries. If for-profit, has generally completed at least one formal investment round (Seed stage or later). If nonprofit, has an established set of donors and/or revenue streams.

• Scale: A standard solution operating in many communities or multiple countries, demonstrating product-market fit, and is prepared to scale significantly. If for-profit, has likely raised at least a Series A investment round.

Once the submission deadline passes, judging begins. The judging panel for this Prize will be composed of leaders and experts with experience in climate resilience, workforce training, infrastructure and energy, and social impact. After an initial screening by Solve staff and community reviewers, the judges will score the screened solutions based on the following criteria. All criteria will be given equal weight:

• Alignment: The solution uses technology to address the Prize question.

• Potential for impact: The planned solution implementation has the potential to impact the intended population.

• Feasibility: The team has a realistic, practical plan for implementing the solution, and it is feasible in the given context.

• Innovative approach: The solution includes a new technology, a new application of technology, a new business model, or a new process for addressing the prize question.

• Human-centered design: The solution is designed with and for underserved communities, and the solution team demonstrates that they have the experience, relationships, data, and knowledge to develop and deliver a successful solution.

• Scalability: The solution has a plan for financial viability and the potential to be scaled to affect the lives of more people.

• Partnership potential*: The applicant clearly explains how the solution would benefit from the broad range of resources that Solve and Macquarie Group are positioned to provide.

• Technical feasibility*: If the underlying technology is novel, the applicant has provided convincing evidence that it has been built and functions as they claim it does.

*This criterion will only be considered during finalist selection and beyond.

• December 1, 2025: Prize opens

• February 25, 2026, 12PM ET: Prize closes for submission

• March – April 2026: Review and selection

  • Early-mid April: Finalists announced

  • Late April: Finalist interviews

  • May 14, 2026: Winners announced

• Winner support: June – November 2026

*While we aim to follow the schedule above, the following dates are subject to change. All applicants will be notified if changes occur.

Some benefits of being selected for the Prize include:

• Access to a Prize pool of up to $US1,000,000, which will be awarded to up to 10 winning teams. Indicative award amounts could range from $US50,000 - $US250,000.

• Participation in a six-month tailored support program, including a tailored needs assessment call, workshops, executive coaching, access to additional resources, and mentorship matchmaking between the winners and Macquarie Group employees.

We discourage using ChatGPT or other generative AI chatbots to write your application for you. Your application will sound impersonal or generic to reviewers, and this can strongly disadvantage your application in our selection process. We want to hear your passion for and perspective on your solution!

However, ChatGPT and other generative AI chatbots may be able to assist you with initial drafts for some application questions. If you do use GenAI tools to assist in your writing, you must check the content and ensure that it accurately reflects the current status of your solution. Fabricated or misleading information in your application may lead to the removal of your solution.

If you have any additional questions, please review the Application Clinics page, where you can learn more about the Prize, the support program, commonly asked questions, and more.

You can also email your questions to help@solve.mit.edu. Please allow three-five business days for a response.