MIT Solve Global Economic Prosperity Challenge 2024 (Up to $150,000 grant)

Peace and stability are fundamental prerequisites for economic prosperity and a flourishing society, both of which are jeopardized by escalating conflicts and economic shocks. The repercussions of instability and conflict can significantly undermine economic prospects, undo years of development progress, and exacerbate vulnerabilities. It is important to recognize that poverty and the absence of quality employment opportunities contribute to the occurrence of conflicts. The current global landscape is marked by 114 million individuals forcibly displaced as a result of war, violence, and climate-related disasters, as well as two billion workers engaged in informal and precarious jobs worldwide. Furthermore, the advent of artificial intelligence and other technological disruptions further compound the challenges at hand, making the stakes even higher.

Nevertheless, technology and innovation possess the potential to serve as powerful instruments in promoting peace and prosperity. While social media has contributed to the dissemination of misinformation and polarization, it can also be harnessed to enhance social cohesion, civic engagement, and reduce the likelihood of violent conflicts when thoughtfully designed. Similarly, although technology can lead to increased precarity, it can also facilitate the development of more inclusive financial systems, create new employment opportunities, and enhance resilience. The ethical design and implementation of technology play a pivotal role in constructing and sustaining peaceful communities and inclusive economies.

MIT Solve Global Economic Prosperity Challenge Eligibility

MIT Solve Global Economic Prosperity Challenge 2024 is actively seeking exceptional solutions that leverage technology to foster peace and prosperity. In 2024, our focus revolves around solutions that:

1. Promote and sustain peace by fostering community dialogue, civic participation, reconciliation, and justice efforts. This includes strengthening cyber security measures and monitoring or preventing violence, misinformation, and polarization.
2. Foster financial and digital inclusion by supporting access to credit, digital identity tools, and insurance, while ensuring the security and privacy of personal data.
3. Generate new economic opportunities and provide a buffer against economic shocks for workers. This encompasses the creation of quality jobs, workforce development initiatives, and the promotion of inclusive and attainable asset ownership.

MIT Solve Global Economic Prosperity Challenge Prize

MIT Solve – Solver Award
All Solver teams selected for Solve’s Global Challenges and the Indigenous Communities Fellowship will receive a $10,000 grant provided by Solve.

The GSR Foundation Prize
GSR Foundation will grant a prize to solutions that utilize technology in a creative manner to address urgent issues in their communities, with the potential to expand globally. Preference will be given to solutions that eliminate obstacles to financial inclusion and prioritize learning. The prize is funded by the GSR Foundation, an independent charity established by GSR, a prominent cryptocurrency trading firm. The Foundation aims to advance education, promote equal opportunities, and contribute to a sustainable world, with a focus on blockchain and innovative technology-driven solutions. Up to $150,000 will be awarded to multiple Solver teams from any of Solve’s 2024 Global Challenges.

Morgridge Family Foundation AI Innovation Prize
Solutions that employ AI to boldly ignite change through innovation, disruption, and transformation are eligible for the Morgridge Family Foundation AI Innovation Prize. The Morgridge Family Foundation invests in leaders and organizations that are reimagining solutions to some of the most significant challenges of today. Up to $50,000 will be granted to a maximum of two Solver teams from Solve’s 2024 Global Challenges or from Solve’s portfolio of Solver teams.

The AI for Humanity Prize
The AI for Humanity Prize is open to solutions that harness data science, artificial intelligence, and/or machine learning to benefit humanity. The prize is made possible by The Patrick J. McGovern Foundation, a philanthropic organization dedicated to advancing AI and data solutions to create a prosperous, fair, and sustainable future for all. Up to $150,000 will be awarded to multiple Solver teams from any of the 2024 Global Challenges.

MIT Solve Global Economic Prosperity Challenge Application

• For details and to submit an application visit the official website
• Deadline is April 18, 2024