Applications for the MIT Solve Challenge of Circular Economy are open until July 1. People from anywhere in the world can apply as a person, team or organisation.
What is Solve and why should you apply?
Solve is an MIT (Massachussetts Institute of Technology) program. It looks for innovative, technology-based and human-centered solutions to our global challenges. Through open innovation, Solve seeks a diversified portfolio of solutions in different parts of the world. Every year some challenges are open. In 2019, in addition to the ‘circular economy’, Solve has launched other three challenges: ‘community innovation’, ‘child development’ and ‘healthy cities’.
For Solve program, the definition of “technology-based solutions” is quite broad. In addition to technologies such as artificial intelligence, blockchain and virtual reality, winning teams from the past challenges thrived with, for example, a vegetable fiber that absorbs oil spills, biodegradable absorbents and cell phone applications.
Solutions are accepted in their various stages of development. Such as prototyping (product testing phase), pilot (the product, service or business model has already been tested in at least one community), growth, scale or potential partnership. It is important to be aware that solutions in the ‘idea’ stage are unlikely to be selected.
How does the selection work?
Solve judges are invited experts and leaders from all industrial sectors. Léa Gejer, founder at Flock, is part of the jury in MIT Solve Challenge of Circular Economy and of the leadership group for the circular economy. The solutions will be selected based on some criteria. They are: alignment with Solve’s global challenges, impact potential, scalability, financial feasibility and innovative approach. “Being innovative” means including a new technology, a new technology application, a new business model or a new process to solve the challenge. Your idea must be innovative to the whole world. This means that if your idea is new in Brazil, for example, but it’s already common in other countries, it doesn’t work for this challenge.
Selected finalists will attend a live audience at Solve Challenge Finals. If you are selected for the challenge finals, trips to New York and accommodations will be refunded. The solutions selected will form a new Solver class and will build partnerships with the Solve community.
What do I win if my solution is selected in MIT Solve Challenge of Circular Economy?
There is more than $ 1.5 million in award funding available for the Solver 2019 class. If you are selected as Solver, you will receive a $ 10,000 Solve grant. Besides, you will have access to significant additional funding.
Plus, winning the challenge, you’ll be part of the MIT-supporting network. And will receive 12 months of personalised support with community members from multiple sectors of Solve. Through these connections, you will build partnerships to accelerate your work, validate your impact and business model, and scale your solution.
Apply your solution at MIT-Solve Challenge here.