MIT Solve Announces 2023 Global Challenges and Indigenous Communities Fellowship – AI News Update

MIT Solvean MIT initiative whose mission is 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 by 12 p.m. EST on May 9. The 40 innovators – including eight new fellows from Indigenous communities – will form the Solver 2023 class and pitch their solutions at the Solve Challenge Finals on September 17-18 in New York City. These selected teams will share over $1 million in available funding, participate in a nine-month support program, and join the Solve community of cross-industry social impact leaders to scale their solutions.

The 2023 Solve Global Challenges are:

For its second year, Solve will select a cohort of entrepreneurs from the Solver 2023 class to join the Black and Brown Innovators in the American Program. The program offers culturally appropriate support and partnership opportunities, and selected teams will participate in Solve’s annual US Equity Summit.

In addition to the Global Challenges, Solve is also opening applications for the Indigenous Communities Scholarship 2023. The Fellowship, which seeks Indigenous innovators in the United States and its territories, has now expanded eligibility in Canada.

“Each year, we are inspired by people’s ingenuity and determination to solve the most pressing problems of our time,” said Hala Hanna, acting executive director of MIT Solve. “We are delighted to shine the spotlight on the most promising and grateful to our supporters who will help increase their impact.”

Interested candidates can find out more and apply online at solve.mit.edu/challenges.

To date, funding available for Solver teams and selected fellows includes:

• MIT Solve Funding – $400,000 with a $10,000 grant to each Solver team and selected fellow
• The GM Prize (backed by General Motors) — up to $150,000 across up to six solutions from the Civic Action Learning Challenge, Climate Change Adaptation Challenge, and Low-Carbon Housing and Indigenous Communities Scholarship 2023
• The AI ​​for Humanity Prize (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 one of the 2023 Global Challenges
• The GSR Foundation Prize (supported by the GSR Foundation) – up to $200,000 for innovative technology solutions from one of the 2023 Global Challenges, with a focus on solutions that use blockchain to improve the financial inclusion
• Living Forests Prize (supported by Good Energies Foundation) – up to $100,000 for up to four solutions that help restore ecosystems or increase the use of sustainable forest products, selected under the Climate Adaptation & Low-Carbon Housing Challenge

Those interested in sponsoring an award should contact [email protected].

Moreover, Solve the future of innovation will provide investment capital to selected Solver Teams in the Class of 2023. To date, Solve Innovation Future has deployed over $1.3 million in over 13 for-profit Solver Team ventures that have an impact on the United Nations Sustainable Development Goals, and catalysed nearly seven times its investment in additional private equity towards 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 Class of Solver 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-enabled social entrepreneurs all over the world. Solve then brings together MIT’s innovation ecosystem and a community of members to fund and support these entrepreneurs to have lasting transformational impact. To date, Solve has catalyzed over $60 million in commitments for Solver teams and contractors.