Welcome!

News Feed Item

MIT's Inclusive Innovation Challenge awards over $1 million to organizations harnessing technology to create greater economic opportunity for workers

CAMBRIDGE, Mass., Oct. 13, 2017 /PRNewswire-USNewswire/ -- The MIT Initiative on the Digital Economy has awarded over $1 million in prize money in its second annual MIT Inclusive Innovation Challenge (IIC) in recognition and celebration of for-profit and non-profit organizations using technology to improve economic opportunity for base- and middle-level income earners.

The IIC is the flagship initiative of the IDE. We award over one million dollars in prizes to Inclusive Innovators, international organizations that are using technology to solve a grand challenge of our time -- to create shared prosperity by reinventing the future of work. Learn more at http://MITinclusiveinnovation.com

Held yesterday evening in Boston during HUBweek, IIC's Gala Celebration featured such luminaries as Eric Schmidt, Executive Chairman of Alphabet Inc, and Mignon Clyburn, Federal Communications Commission (FCC) Commissioner, among others.

Approximately 1,000 organizations from around the world competed in the Challenge. Nearly 160 expert core judges reviewed the applications. The top 16 scoring competitors – all of which are inventing a more inclusive, productive and sustainable future for the global workforce -– advanced to a Champion Committee, which selected four grand prize winners.

In all, the IIC awarded $150,000 to each of the four grand prize winners, and $35,000 each to 12 runners-up competing in four categories: Financial Inclusion; Income Growth & Job Creation; Skills & Matching; and Technology Access.

The grand prize winners are:

LaunchCode (Skills & Matching Category)
LaunchCode expands the tech workforce across the U.S. by providing free coding education to jobseekers lacking traditional credentials by using a low-cost, scalable model that quickly replicates in-person coding classes, followed by matching them to paid apprenticeships with hundreds of companies via a digital platform that helps them transition into full-time employment.

AdmitHub (Technology Access Category)
Of the approximately 2.5 million U.S. students who enroll at colleges each year, 48% fail to earn a degree within six years. Students who drop out disproportionately come from underserved communities. The societal impact is staggering, costing the U.S. an estimated $4.5 billion in lost earnings and taxes annually. AdmitHub has designed an innovative solution – an AI virtual assistant. With it, students receive 24/7 personalized support, and more data is available for universities to provide greater individual support.

EFL (Financial Inclusion Category)
Three billion people worldwide lack the credit history lenders require to make a loan. This creates a missed opportunity for lenders along with widespread financial exclusion. EFL brings ten years of experience applying psychometrics and behavioral science to loan repayment, providing insight into how personality drives credit risk, across cultures and segments, allowing users to effectively score potential borrowers anywhere at any time. With more than $1.5 billion lent in loans across 15 countries, EFL is empowering lenders to grow with less risk.

Logistimo (Income & Jobs Category)
Constrained by availability, reliability and affordability of transport, villages in rural frontier communities lack access to essential goods, rendering them underserved and disconnected from mainstream value chains. Logistimo's digital auction-based platform – using demand aggregation, load/route/schedule optimization, and fulfilment tracking – better connects demand to local capacity. Logistimo's vehicle-agnostic approach supports milk runs and line-hauls, seamlessly integrating trucks, bikes, boats and UAVs alike. During 18 months, the platform has performed 14,000 deliveries for 1,000 customers, and more than 80 jobs have been created alongside a 300% income increase for many transporters.

The 12 runners-up are:

African Renewable Energy Distributor Ltd (Technology Access) has developed a one-stop shop mobile solar kiosk to promote African entrepreneurship.

AID:Tech (Financial Inclusion) uses Blockchain technology to revolutionize how governments, corporates and NGOs deliver digital entitlements across the world.

Digital Citizen Fund (Technology Access) helps girls and women in developing countries gain access to technology, virtually connect with others across the world, and obtain necessary skills for success.

dot Learn (Technology Access) creates technology for data-light video learning in emerging markets.

Hogaru (Income Growth & Job Creation) empowers women in Latin America's cleaning industry by leveraging technology to select, train and manage teams while connecting them to over 7,000 customers.

iHub (Skills & Matching) provides upcoming developers in Kenya with an opportunity to work in teams alongside more experienced engineers on real-world projects.

Leap Skills Academy (Skills & Mentoring) mentors, trains and provides employment opportunities to students from low-income households in India through technology and classroom training.

New Day (Skills & Matching) is a smartphone-centric, low- to mid-income employment platform for developing markets worldwide, enabling scalable and rewarding job matching, skills building and employer transparency.

Nomanini (Financial Inclusion) is a South African-based enterprise enabling merchants to facilitate a wide-range of basic transactions including mobile top-ups, utility payments, remittances, deposits, withdrawals, account opening and mobile money/card acceptance.

SkillSmart (Income Growth & Job Creation) levels the playing field and transforms the talent development process by driving from employer demand and connecting employers and job seekers at the skill level.

Tala (Financial Inclusion) is a mobile technology and data science company that is building financial identities for underserved people in emerging markets through alternative data and instant credit.

Tuteria (Income Growth & Job Creation) uses an online platform where learners can easily find, evaluate, book, pay for and track lessons with a verified local teacher in any subject, skill or exam.

"The grand challenge of our era is to use digital technologies to create not only prosperity, but shared prosperity," says Erik Brynjolfsson, Director of the MIT Initiative on the Digital Economy and the Schussel Family Professor of Management Science at the MIT Sloan School of Management. "We created the Inclusive Innovation Challenge to recognize and reward the many amazing people and organizations that are working to accomplish this mission."

"With the IIC, we're celebrating the entrepreneurs and innovators who are demonstrating so many different ways to put powerful technology to use to improve people's economic prospects," adds Andrew McAfee, Co-Director of the MIT Initiative on the Digital Economy, Principal Research Scientist at MIT Sloan. "Our award winners and other entrants show us that broadly shared prosperity is possible, which makes a great antidote to pessimism and negativity."

The IIC was funded with support from Google.org; The Joyce Foundation; and Joseph Eastin and  ISN®.

For more information on IIC winners and its mission, please visit: www.MITinclusiveinnovation.com

The MIT Initiative on the Digital Economy (IDE) explores how people and businesses will work, interact, and prosper in an era of profound digital transformation. Working alone and with public and private sector partners, the IDE supports and conducts groundbreaking research in the areas of productivity and employment, big data, new digital business models, and social analytics. The IDE sponsors fellowships; hosts competitions, conferences, and roundtables; and supports other events that inspire new ideas. The IDE believes that challenges posed by the digital economy not only are solvable, but that technology will create new opportunities for people and businesses to thrive. 

MIT Sloan School of Management is where smart, independent leaders come together to solve problems, create new organizations, and improve the world.

For further information, contact:
IDE Media Contact: Shannon Farrelly, [email protected]
IDE Contact: David Verrill, [email protected]
IIC Contact: Devin Wardell Cook, [email protected]

 

View original content with multimedia:http://www.prnewswire.com/news-releases/mits-inclusive-innovation-challenge-awards-over-1-million-to-organizations-harnessing-technology-to-create-greater-economic-opportunity-for-workers-300536130.html

SOURCE MIT Sloan School of Management

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
SYS-CON Events announced today that Dasher Technologies will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Dasher Technologies, Inc. ® is a premier IT solution provider that delivers expert technical resources along with trusted account executives to architect and deliver complete IT solutions and services to help our clients execute their goals, plans and objectives. Since 1999, we'v...
As popularity of the smart home is growing and continues to go mainstream, technological factors play a greater role. The IoT protocol houses the interoperability battery consumption, security, and configuration of a smart home device, and it can be difficult for companies to choose the right kind for their product. For both DIY and professionally installed smart homes, developers need to consider each of these elements for their product to be successful in the market and current smart homes.
The session is centered around the tracing of systems on cloud using technologies like ebpf. The goal is to talk about what this technology is all about and what purpose it serves. In his session at 21st Cloud Expo, Shashank Jain, Development Architect at SAP, will touch upon concepts of observability in the cloud and also some of the challenges we have. Generally most cloud-based monitoring tools capture details at a very granular level. To troubleshoot problems this might not be good enough.
In the fast-paced advances and popularity in cloud technology, one of the most critical factors revolves around concerns for security of your critical data. How to assure both your company and your customers they can confidently trust and utilize your cloud environment is most often top on the list. There is a method to evaluating and providing security that exceeds conventional modes of protecting data both within the cloud as well externally on mobile and other devices. With the public failure...
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
Transforming cloud-based data into a reportable format can be a very expensive, time-intensive and complex operation. As a SaaS platform with more than 30 million global users, Cornerstone OnDemand’s challenge was to create a scalable solution that would improve the time it took customers to access their user data. Our Real-Time Data Warehouse (RTDW) process vastly reduced data time-to-availability from 24 hours to just 10 minutes. In his session at 21st Cloud Expo, Mark Goldin, Chief Technolo...
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
SYS-CON Events announced today that Massive Networks, that helps your business operate seamlessly with fast, reliable, and secure internet and network solutions, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. As a premier telecommunications provider, Massive Networks is headquartered out of Louisville, Colorado. With years of experience under their belt, their team of...
SYS-CON Events announced today that TidalScale, a leading provider of systems and services, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale has been involved in shaping the computing landscape. They've designed, developed and deployed some of the most important and successful systems and services in the history of the computing industry - internet, Ethernet, operating s...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
We all know that end users experience the Internet primarily with mobile devices. From an app development perspective, we know that successfully responding to the needs of mobile customers depends on rapid DevOps – failing fast, in short, until the right solution evolves in your customers' relationship to your business. Whether you’re decomposing an SOA monolith, or developing a new application cloud natively, it’s not a question of using microservices – not doing so will be a path to eventual b...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, will discuss how from store operations...
Though cloud is the future of enterprise computing, a smooth transition of legacy applications and systems is critical for seamless business operations. IT professionals are eager to start leveraging the cost, scale and other benefits of cloud, but with massive investments already in place in existing infrastructure and a number of compliance and resource hurdles, it can be challenging to move to a cloud-based infrastructure.
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, will go over the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, applicatio...