More than $1.5 Million in Funding for New Solver Class Announced at Solve Challenge Finals to Scale Social Impact Work Globally
NEW YORK, Sept. 23, 2019 /PRNewswire/ -- MIT Solve, an initiative of the Massachusetts Institute for Technology, announces the 32 new Solver teams from 16 countries that were selected yesterday at Solve Challenge Finals, the premier live pitch event kicking off UN General Assembly week. The incoming Solver class was selected by Solve's expert judges and was selected from a pool of nearly 1,400 applicants from over 100 countries.
- Meet the eight Circular Economy Solver teams
- Meet the eight Community-Driven Innovation Solver teams
- Meet the eight Early Childhood Development Solver teams
- Meet the eight Healthy Cities Solver teams
"We are thrilled to welcome our new class of 32 Solver teams—innovators bringing groundbreaking tech-based solutions to tackle four of the most pressing global challenges," said Solve's Executive Director, Alex Amouyel. "Over the next nine months, the Solve staff will work closely with each Solver to build partnerships across the Solve community and help source the funding, mentorship, and support they need to scale their solutions."
Prize Funding: More than $1.5 million in prize funding was announced for the new 2019 Solver Class, including:
- $200,000 for the AI Innovations Prize, made possible by The Patrick J. McGovern Foundation and Schmidt Futures
- $50,000 for the GM Prize on Community-Driven Innovation, made possible by General Motors
- $50,000 for the GM Prize on Circular Economy, made possible by General Motors
- $75,000 for the Innovation for Women Prize, made possible by the Vodafone Americas Foundation
- $25,000 for the Morgridge Family Foundation Community-Driven Innovation Prize, made possible by the Morgridge Family Foundation
- $200,000 for the Dubai Cares Early Childhood Development Prize, made possible by Dubai Cares
- $50,000 for the Innospark Ventures Prize, made possible by Innospark Ventures
- $100,000 for the Everytown for Gun Safety Prize, made possible by Everytown for Gun Safety Support Fund
- $75,000 for the Innovating Together for Healthy Cities Prize, made possible by Abu Dhabi Crown Prince's global health initiative
- $60,000 for the UN Women She Innovates Prize for Gender-Responsive Innovation, founded by UN Women Global Innovation Coalition for Change and made possible by Johnson & Johnson and EY
- $50,000 for the Innovation for Refugee Inclusion Prize, made possible by the Andan Foundation
- $10,000 for the Community Award: the finalist from each Challenge with the most votes on Solve's open platform received Community Awards of $2,500 each
- $320,000: Additionally, Solve announced a total of $320,000 in Solver grants, $10,000 for each new Solver selected
For-profit and hybrid-model Solver teams will also be eligible to apply to Solve Innovation Future, a first-of-its-kind innovative philanthropic venture fund that invests in Solver teams.
About MIT Solve:
MIT Solve is an initiative of the Massachusetts Institute of Technology that advances lasting solutions from tech entrepreneurs to address the world's most pressing problems. Solve issues four Global Challenges each year to find the most promising Solver teams who will drive transformational change. Solve then deploys its global community of private, public, and nonprofit leaders to form the partnerships these Solver teams need to scale their impact. This year, Solve selected 32 Solver teams out of nearly 1,400 applications from over 100 countries tackling four Global Challenges: (1) Circular Economy, (2) Community-Driven Innovation, (3) Early Childhood Development, and (4) Healthy Cities. Join the community at solve.mit.edu.
CONTACT: Andrea Snyder, Communications and Marketing Director, MIT Solve, email@example.com
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