MIT Solve 2025 Global Economic Prosperity Challenge – Apr 17

Posted by Massachusetts Institute of Technology on March 25, 2025

MIT Solve invites applications for 2025 Global Economic Prosperity Challenge

Massachusetts Institute of Technology invites applications for MIT Solve 2025 Global Economic Prosperity Challenge.

According to MIT Solve, while the rapid development of technologies such as AI offers new capabilities and creates new opportunities, significant global disparities persist: 2.6 billion people remain offline, 1.4 billion are unbanked and two billion work in informal economies. These challenges are particularly acute for vulnerable communities and women when digital access and verifiable identification are prerequisites for modern financial services. Financial providers often lack incentives to expand services to underserved markets, while factors such as limited technological literacy, institutional mistrust, and local cultural practices can impede the adoption of digital tools. Addressing economic opportunity gaps requires a coordinated approach to overcome barriers to digital access, financial services, and labor market participation. Technology and innovation can be powerful levers to close these gaps through targeted solutions; whether by offering targeted financial tools to unbanked populations, enabling communication across language barriers through real-time translation, and creating adaptable interfaces that accommodate diverse user needs and abilities in employment contexts.

MIT Solve seeks exceptional solutions that leverage technology to increase economic prosperity for all with a 2025 focus on solutions that enable universal access to financial services, including innovative fintech tools for banking, insurance, credit, instant payments, and asset ownership; increase digital participation and security, including reliable connectivity and protected online spaces that safeguard civic participation, privacy, and digital identity; and expand workforce development, such as through skill-based training, employment matching, and career mobility programs, or worker safety and benefits, with an emphasis on underinvested populations.

Applicants selected to become a Solver team and join the nine-month support program receive a $10,000 grant as well as access to a pool of +$1.5M in prize funding at selection and additional funding opportunities throughout the program and after.

For complete program guidelines and application instructions, see the MIT Solve website.

Deadline: April 17, 2025 at 12 noon ET