MIT solvean MIT initiative with a mission to drive innovation to solve global challenges, announced today the Global challenges 2023 and the Indigenous Communities Scholarship.
Solve invites anyone from anywhere in the world to submit a solution to this year’s challenges before 12 p.m. on September 17 and 18 in New York City. These selected teams will share more than $1 million in available funding, participate in a nine-month support program, and join the Solve community of cross-sector social impact leaders to scale their solutions.
Solve’s global challenges for 2023 are:
For the second year, Solve will select a cohort of entrepreneurs from the Solver Class of 2023 to join the Black and Brown Innovators in the USA Program. The program offers culturally sensitive support and partnership opportunities, and selected teams will participate in Solve’s annual US Action Summit.
In addition to the Global Challenges, Solve is also opening applications for the Indigenous Communities Scholarship 2023. The scholarship, which seeks native innovators in the United States and its territories, has now expanded eligibility to Canada.
“Each year we are inspired by the ingenuity of people and their determination to solve the most pressing problems of our time,” says Hala Hanna, interim executive director of MIT Solve. “We are excited to highlight the most promising and grateful for our supporters who will help scale their impact.”
Interested applicants can learn more and apply online at solve.mit.edu/challenges.
To date, the funds available to selected Solver teams and fellows include:
- MIT Solve Funding: $400,000 with a $10,000 grant for each Solver team and partner selected
- the gm award (with support from General Motors): Up to $150,000 in up to six solutions from the Civic Action Learning Challenge, the Low Carbon Housing and Climate Adaptation Challenge, and the Indigenous Communities Grant 2023
- The AI for Humanity Award (supported by the Patrick J. McGovern Foundation): up to $150,000 for solutions that leverage data science, artificial intelligence, and/or machine learning to benefit humanity, selected from any of the Global Challenges of 2023
- The GSR Foundation Prize (funded by the GSR Foundation): up to $200,000 for innovative technology solutions from any of the 2023 Global Challenges, with a focus on solutions using blockchain to improve financial inclusion
- Living Forests Award (supported by the Good Energies Foundation): up to $100,000 in up to four solutions that help restore ecosystems or increase the use of sustainable forest products, selected from the Low Carbon Housing and Climate Adaptation Challenge
Those interested in sponsoring an award should contact [email protected].
Besides, Solve the future of innovation will offer investment capital to select Solver teams as part of the class of 2023. To date, Solve Innovation Future has deployed more than $1.3 million to more than 13 for-profit Solver team companies that are driving impact toward the UN Sustainable Development Goals, and has catalyzed nearly seven times its investment in additional venture capital toward Solver teams.
The Solve community will gather on the MIT campus for its flagship event Solve at MIT from May 4 to 6 to celebrate the Solver Class of 2022. You can request an invitation here. Press interested in attending the event should contact [email protected].
Solve is a marketplace for innovation with social impact. Through open innovation challenges, Solve finds amazing tech-based social entrepreneurs around the world. Solve then brings together the MIT innovation ecosystem and a community of members to fund and support these entrepreneurs to drive lasting transformative impact. Solve has catalyzed more than $60 million in commitments for Solver teams and entrepreneurs to date.
