MIT Solve, an MIT initiative with a mission to drive innovation to solve world challenges, announced today the 2023 Global Challenges and the Indigenous Communities Fellowship.
Solve invites anyone from anywhere in the world to submit a solution to this year’s challenges by 12 p.m. EST on May 9. The 40 innovators — including eight new Indigenous Communities Fellows — will form the 2023 Solver Class, and pitch their solutions during Solve Challenge Finals on Sept. 17-18 in New York City. These selected teams will share over $1 million in available funding, take part in a nine-month support program, and join the Solve community made of cross-sector social impact leaders, to scale their solutions.
Solve’s 2023 Global Challenges are:
- Financial Inclusion;
- Health in Fragile Contexts;
- Learning for Civic Action; and
- Climate Adaptation and Low-Carbon Housing.
For its second year, Solve will select a cohort of entrepreneurs among the 2023 Solver Class to join the Black and Brown Innovators in the U.S. Program. The program offers culturally-responsive support and partnership opportunities, and selected teams will participate in Solve’s annual U.S. Equity Summit.
In addition to the Global Challenges, Solve is also opening applications for the 2023 Indigenous Communities Fellowship. The fellowship, which looks for Native innovators in the United States and its territories, has now expanded eligibility to Canada.
“Every year we are inspired by people’s ingenuity and their determination to solve the most pressing issues of our time,” says Hala Hanna, acting executive director of MIT Solve. “We are excited to shine a spotlight on the most promising ones 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 funding available for selected Solver teams and fellows includes:
- MIT Solve Funding — $400,000 with a $10,000 grant to each Solver team and fellow selected
- The GM Prize (supported by General Motors) — up to $150,000 across up to six solutions from the Learning for Civic Action Challenge, the Climate Adaptation & Low-Carbon Housing Challenge, and the 2023 Indigenous Communities Fellowship
- The AI for Humanity Prize (supported by The Patrick J. McGovern Foundation) — up to $150,000 to solutions that leverage data science, artificial intelligence, and/or machine learning to benefit humanity, selected from any of the 2023 Global Challenges
- The GSR Foundation Prize (supported by GSR Foundation) — up to $200,000 to innovative technology solutions from any of the 2023 Global Challenges, with a focus on solutions that use blockchain to improve financial inclusion
- Living Forests Prize (supported by Good Energies Foundation) — up to $100,000 across up to four solutions that help restore ecosystems or increase the use of sustainable forest products, selected from the Climate Adaptation & Low-Carbon Housing Challenge
Those interested in sponsoring a prize should contact sue.kim@solve.mit.edu.
Additionally, Solve Innovation Future will offer investment capital to Solver teams selected as a part of the 2023 class. To date, Solve Innovation Future has deployed over $1.3 million to more than 13 for-profit Solver team companies that are driving impact toward UN Sustainable Development Goals, and has catalyzed nearly seven times its investment in additional investment capital toward the Solver teams.
The Solve community will convene on MIT’s campus for its flagship event Solve at MIT May 4-6 to celebrate the 2022 Solver Class. You may request an invitation here. Press interested in attending the event should contact maya.bingaman@solve.mit.edu.
Solve is a marketplace for social impact innovation. Through open innovation challenges, Solve finds incredible tech-based social entrepreneurs all around the world. Solve then brings together MIT’s innovation ecosystem and a community of members to fund and support these entrepreneurs to drive lasting, transformational impact. Solve has catalyzed over $60 million in commitments for Solver teams and entrepreneurs to date.
