In its annual meeting yesterday, MIT Solve, an initiative of Massachusetts Institute of Technology, announced that it is seeking to raise $30 million for its new philanthropic venture fund that focuses on early-stage entrepreneurs solving global challenges. Noubar Afeyan, founder and CEO of Flagship Pioneering and MIT Corporation member, is committing up to $3 million to the fund.
“Solve’s mission is to tackle global challenges by helping early-stage innovators from all around the world connect with each other, tap the strength of MIT’s innovation ecosystem and, crucially, gain the resources to transform their ideas into impactful solutions. The Solve Innovation Fund is an inspiring step to providing Solver teams with the capital to deliver their solutions at scale,” said MIT President L. Rafael Reif.
Solve’s current open Challenges are open until July 1 and include:
(1) Circular Economy,
(2) Community-Driven Innovation,
(3) Early Childhood Development,
(4) Healthy Cities.
Read more about their opportunity here: http://www.finsmes.com/2019/05/mit-solve-launches-solve-innovation-fund.html