Congratulations to the Finalists of the Milken-Motsepe Prize in FinTech!
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The Milken-Motsepe Prize in Green Energy incentivized entrepreneurs who have ideas for solutions to advance progress toward UN Sustainable Development Goal (SDG) 7: Ensuring access to affordable, reliable, sustainable and modern energy for all.
The aim of the Milken-Motsepe Prize in Green Energy was to reward innovators who expand access to reliable, affordable, and sustainable electricity in Africa. Energy access is a key driver for long-term economic growth and shared prosperity. The prize offered $2 million in prizes and additional benefits, including a $1 million grand prize for the winning team and $1 million in additional prize money. Participating teams also received access to networking, training, and other resources.
Teams submit their designs and business models. An independent panel of expert judges will select 20 teams to advance in the competition to be semi-finalists. Each semi-finalist team will then receive $20,000 to test their ideas.
Teams perform a real-world demonstration of their innovation and collect data on its performance. A panel of judges will select 5 teams to receive $70,000 each in additional funding and advance in the competition to become finalists.
Teams will submit final submissions and judges will assess and choose a grand prize winner. The winning team will receive $1,000,000 and a runner-up will receive a $250,000 prize.
Winning teams will demonstrate the ability to deploy distributed green energy solutions at scale in Africa, with the goal of dramatically expanding access to reliable electricity. Teams should make use of new technologies or should adapt existing technologies in innovative ways to generate at least 60 kWh of off-grid electricity daily (24 hours) using green energy sources.
The winning team received a $1 million grand prize.
Senior Director, Universal Energy Facility (UEF), Sustainable Energy for All (SEforALL)
Many entrepreneurs lack the information and tools they need to bring their innovation to life. In addition to the chance to win cash prizes, the Milken-Motsepe Innovation Prize program provides a rich set of opportunities for entrepreneurs, both during the competition and beyond.
Simply complete the free prize registration process and you will join an online community of other entrepreneurs. The prize portal will give you access to:
Semi-finalist teams will participate in a tuition-free, experiential learning program offered by Global Innovation Catalyst (GIC) in collaboration with Stanford Online. The GIC Innovation Execution (iX) program features the entire course content from Stanford’s Idea-to-Market entrepreneurship program. Teams will receive:
Winning teams will join the Milken-Motsepe Innovation Prize Program winners circle following prize completion, with access to:
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