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Solutions for MIT Solve’s four open global challenges are due next Sunday (1 July). The challenges offer selected “solvers” more than $650 000 in potential funding.
Innovators who make it into this year’s Solver class will each receive $10 000 in funding from MIT Solve
Innovators from around the world can submit solutions to the challenges regardless of their stage of development. Finalists for each challenge will be selected by experts and industry leaders to attend a live pitch event where the best solutions will be selected into this year’s Solver class.
Those innovators selected into the Solver class will receive $10 000 in funding from Solve. Additional fellowships and grant prizes ranging from between $25 000 and $100 000 are also available from Solve’s partners who include Rise, General Motors, and Consensys.
Solvers will also receive 12 months of personalised support, as well as access to Solve’s network of corporations, foundations, nonprofits, government and academia.
Solvers can also expect benefits that include mentorship, access to investors, and support valued at $15 000.
Submitted entries will be judged on:
- Alignment: Whether the solution addresses the set challenge using technology
- Potential of impact: Does the planned implementation of the solution have the potential to impact lives
- Scalability: Can the solution can be grown and scaled to affect the lives of more people
- Feasibility: Whether it is feasible to implement the solution, as well as if the team has a plan for the solution to sustain itself financially
- Innovative approach: Does the solution uses new tech, a new application of technology, business model, or a new process