The Milken Institute and the Motsepe Foundation have launched the Milken-Motsepe Innovation Prize program that will include multiple technology prize competitions in the areas of agriculture, energy, education, and health.
The multi-year initiative aims to focus on global innovators and entrepreneurs on developing technological solutions that accelerate progress towards implementing the UN’s sustainable development goals (SDGs).
Teams have until December 8, 2021 to register and submit designs and business models after which an independent panel of expert judges will select upto 25 teams to each receive $10,000 ro develop small-scale prototypes over the ensuing six months.
A $1 million grand prize will be awarded, with additional prize money distributed among second and third place winners.
“My good friends Patrice and Precious Motsepe have long been valued partners of the Milken Institute, especially in addressing global health issues,” said Milken Institute Chairman Mike Milken. “The Motsepe Foundation’s leadership has been highly effective in Africa and inspiring to people around the world. I’m delighted that we will again join forces to encourage long-term technological innovation and enhance the human capital of farmers so they can play a greater role in sustaining a more-dynamic regional economy.”
Dr. Precious Moloi-Motsepe, Co-founder and CEO of the Motsepe Foundation, added: “This prize competition will tap into global entrepreneurial and technological potential, including amongwomen and the growing youth population across the African continent and worldwide. We’re confident that the competition will attract a diverse group of participants across the world who want to engage with a broad network of resources to action their innovative ideas.”
“The Milken-Motsepe Prize in AgriTech was developed through rigorous and inclusive consultations with more than 50 experts from a variety of disciplines, representing academia, industry and government, to define the competition guidelines and evaluation metrics. Field testing will take place in Africa and solutions should have the potential to be applied globally.“
Prize competitions encourage innovation, diversify the talent pool, and inspire new voices from budding entrepreneurs to seasoned engineers,” said Dr. Emily Musil Church, senior director in the Milken Institute’s Center for Global Market Development. “We are pleased to introduce this approach to advancing the SDGs that will harness the power of technology to solve global challenges and create true systems of change.”
Interested applicants can register here