Latest news with #MITSolve
Forbes
29-05-2025
- Business
- Forbes
What Nonprofit Leaders Can Do In Light Of The Bill Gates Announcement
NEW YORK, NEW YORK - SEPTEMBER 26: Bill Gates speaks onstage for a special conversation during ... More "What's Next? The Future With Bill Gates"at The Paris Theater on September 26, 2024 in New York City. (Photo byfor Netflix) Bill and Melinda Gates built a foundation that has given over $100 billion to nonprofit and nongovernmental organizations around the world for the past 25 years. It is one of the nation's largest and most successful foundations, and many nonprofit leaders have come to depend on it for vital resources and thought leadership. To the dismay of some, and the thrill of others, Bill Gates recently announced his decision to sunset the foundation in 20 years and distribute $200 billion of its assets – and his personal fortune – to achieve three goals: In order to accomplish the goal of distributing so much money in such a short period of time, the Gates Foundation will be forced to substantially increase its annual giving (about $9 billion a year), which is good news for those organizations who are toiling in these vineyards and desire faster change, but obviously concerning for those who see these global challenges as long-lasting and resistant to quick wins. What does this mean for nonprofit organizations and what should their leaders do now? MIT Solve is an initiative of MIT that supports innovators that use tech-based solutions to solve big problems. Its executive director, Hala Hanna, notes that the Gates Foundation has been an important partner for MIT Solve for many years, and 'we both share the belief that innovators are critical to solving global challenges and require targeted support to achieve scale.' Together the Gates Foundation and MIT Solve have collaborated on custom philanthropic programs such as the AI-Enabled Assessments Challenge and have secured additional funding for its innovators. 'While the Foundation's planned wind-down represents a significant shift in the philanthropic landscape, its impact on Solve will be more evolutionary than disruptive,' stated Hanna in an email message to this writer. 'Every year, we work with over 80 supporters and investors to help them achieve their social impact goals. The Foundation's partnership has certainly validated and strengthened how we design innovation challenges, select winners, and deliver entrepreneur support programs. The ultimate vision – which both our organizations share – is that in 20 years this type of risk capital becomes both more available as other funders follow suit and less necessary as capable governments, scaled innovations, and functional markets flourish.' Indeed, fundraising experts such as Ann Fellman, the chief marketing officer at Bloomerang, think that nonprofits need both short-term and long-term fundraising strategies and the flexibility to change those strategies over time. According to Fellman, the Gates Foundation announcement represents an opportunity for nonprofits. Because the Foundation will be more aggressively distributing its funds over the next 20 years, Fellman believes that nonprofit leaders need to ask themselves: do you have a mission and a vision and a connection – not just with the Gates Foundation but also other family foundations who might follow Gates's lead and wind down their operations? Fellman suggests leaning into family foundations to understand how they are governed, how they are distributing their funds and over what period of time. She sees the Gates announcement as signaling a change in how philanthropic institutions see themselves and she believes that this shift might be accelerating faster than what we've been used to in the past. 'There is going to be a $70 trillion transfer of wealth happening over the next two decades, and nonprofit organizations need a strategy to navigate that shift,' stated Fellman in an interview with this writer. 'Nonprofits shouldn't make the mistake of pulling back, deciding for the donor that the time isn't right – now is the time to make the ask. Now is the time to lean in.' Communication between the fundraiser and donor is key according to Fellman. Research that Bloomerang has conducted shows that 65 percent of donors value frequent impact updates on what is happening to their donations but only 36 percent of nonprofits are providing these kinds of regular reports. Fellman believes that as wealth is transferred to younger generations who are used to more real-time, shorter bursts of information, these kinds of updates will become more critical to the fundraising landscape. Transparency is also important. If nonprofits are experiencing a gap in revenues for whatever reason -- changes in government or institutional funding, increased expenses, a crisis of one kind or another – it's critical to identify the gap, make the ask, and communicate the results according to Fellman. Bill Gates has been a legendary corporate leader and philanthropist, and his thought leadership and resources have been an outsized part of the philanthropic landscape for the past 25 years. The next 20 years will see an enormous generational transfer of wealth in this country and nonprofit leaders need to be prepared and willing to shift as the fundraising environment changes with it.
Khaleej Times
03-04-2025
- Business
- Khaleej Times
Crescent Enterprises collaborates with MIT solve to advance AI for social innovation in the Arab region
Crescent Enterprises is collaborating with MIT Solve, an initiative of the Massachusetts Institute of Technology, to accelerate AI-driven solutions for global and regional social challenges. Through this collaboration, Crescent Enterprises will support MIT Solve's efforts in identifying and scaling AI-powered innovations that address critical global issues, with a particular focus on expanding access to these opportunities in the Arab region. MIT Solve's Global Challenges aim to harness technology and entrepreneurship to create scalable solutions in key areas such as climate resilience, healthcare, economic inclusion, and education. By supporting MIT Solve, Crescent Enterprises is reinforcing its commitment to fostering innovation and driving impactful, technology-enabled change in high-growth markets. 'AI has the potential to revolutionize industries, redefine economies, and shape a more inclusive future,' said Tushar Singhvi, Deputy CEO & Head of Investments at Crescent Enterprises. 'Through our partnership with MIT Solve, we are fostering a platform for AI-powered innovation that aligns with global priorities while addressing region-specific challenges. This initiative reflects our ongoing commitment to enabling entrepreneurship and technology for sustainable development'. For the first time, MIT Solve will host a MIT Challenge Clinic in Arabic, in collaboration with Crescent Enterprises. This initiative will equip regional entrepreneurs with access to a global network and tailored guidance, enabling them to harness AI-driven innovation more effectively. 'MIT Solve is dedicated to empowering innovators and entrepreneurs who are tackling the world's most pressing challenges through technology,' said Hala Hanna, Executive Director of MIT Solve. 'Our collaboration with Crescent Enterprises enhances our ability to connect with AI-driven problem-solvers across the MENA region and globally, equipping them with the tools, resources, and networks necessary to scale their impact and drive AI-powered innovation forward. MIT Solve's 2025 Global Challenges will deploy over $1.5 million in funding to scale transformative, tech-enabled solutions addressing critical global challenges. As part of this initiative, Crescent Enterprises' AI for Social Innovation Prize will support up to four winning teams, two from the MENA region and two from global applicants. Each recipient will receive $25,000 in equity-free funding and access to MIT Solve's nine-month Solver Support Program, designed to accelerate impact through tailored mentorship, strategic advisory, and direct engagement with MIT's global innovation ecosystem. Applications are open to entrepreneurs, researchers, and organizations with solutions that align with Solve's Global Challenges, with a particular focus on AI-driven social innovation. Submissions will undergo a rigorous evaluation process led by MIT faculty and industry leaders, assessing technological ingenuity, feasibility, scalability, and long-term impact. Finalists will be invited to the Solve Challenge Finals in New York City, where winning teams will receive financial support, executive mentorship, and access to an influential network to further scale their solutions and drive measurable change. By leveraging Crescent Enterprises' regional expertise and MIT Solve's global innovation ecosystem, this partnership aims to bridge the gap between frontier technology and real-world solutions. Through strategic collaborations, Crescent Enterprises remains committed to advancing AI-driven innovation that fosters sustainable economic growth and empowers entrepreneurs in high-growth markets.
Associated Press
06-02-2025
- Business
- Associated Press
E Ink Partners with MIT Solve to Launch Innovation Prize for Global Challenges
BILLERICA, Mass., Feb. 06, 2025 (GLOBE NEWSWIRE) -- E Ink ( the originator, pioneer, and global commercial leader in ePaper technology, announced today its collaboration with MIT Solve, an initiative of the Massachusetts Institute for Technology with a mission to drive innovation to solve world challenges. The E Ink Innovation Prize will award up to $300,000 over the next three years to teams helping solve the world's most pressing issues. 'This partnership with MIT Solve underscores our commitment to leveraging ePaper technology to address some of the world's most pressing challenges,' said Johnson Lee, CEO, E Ink. 'We believe that by supporting innovation, we can make a significant impact on global issues and drive sustainable change.' The inaugural E Ink Solve Global Challenge opened for applications on February 3, 2025, with prize recipients selected in August, and official project kick off in September. The E Ink Innovation Prize is open to solutions that utilize ePaper materials, technology, or displays to address problems of global importance in any of Solve's areas of impact, including topics such as architecture, education, or intercultural understanding. 'Working with E Ink, a company that originally spun out of the MIT Media Lab in 1997, is a full circle moment,' said Hala Hanna, Executive Director of MIT Solve. 'This level of support is what drives scale and transformational impact. We look forward to working alongside E Ink to advance pivotal tech-based solutions that create a better future for all.' MIT Solve finds and supports tech-based solutions to global challenges through open innovation challenges and partnerships, and in part with its collaboration with E Ink, aims to achieve a more sustainable and equitable future for all. The Innovation prize will be awarded to up to four Solver teams, with additional support from E Ink through project implementation. To learn more or to apply, please visit E Ink continues to receive recognition across its climate strategy, privacy protection, and business ethics, with its ongoing inclusion in the Dow Jones Sustainability World Index (DJSI World) and the Dow Jones Sustainability Emerging Markets Index (DJSI Emerging Markets). The company has revised its 2025 renewable energy goal to RE65, aiming for RE100 across all operations. Additionally, E Ink's displays have been recognized for their environmental contributions, with 99.9% of product sales revenue qualifying as green revenue and is noted for its energy efficiency and eye health benefits, being the first display technology to receive certification from the International Dark-Sky Association. About E Ink E Ink Holdings Inc. ( based on technology from MIT's Media Lab, provides an ideal display medium for applications spanning eReaders and eNotes, retail, home, hospital, transportation, logistics, and more, enabling customers to put displays in locations previously impossible. E Ink's electrophoretic display products make it the worldwide leader for ePaper. Its low power displays enable customers to reach their sustainability goals, and E Ink has pledged using 100% renewable energy in 2030 and reaching net zero carbon emissions by 2040. E Ink has been recognized for their efforts by receiving, validation from Science-Based Targets (SBTi) and is listed in both the DJSI World and DJSI Emerging Indexes. Listed in Taiwan's Taipei Exchange (TPEx) and the Luxembourg market, E Ink Holdings is now the world's largest supplier of ePaper displays. For more information please visit E Ink. We Make Surfaces Smart and Green. Contact V2 Communications on behalf of E Ink About MIT Solve: Solve is an initiative of the Massachusetts Institute of Technology (MIT) with a mission to drive innovation to solve world challenges. Solve is a marketplace for social impact innovation. Through open innovation challenges, Solve finds incredible tech-based social innovators from all around the world. Solve then brings together MIT's ecosystem and a community of supporters to fund and scale these innovators to help them drive lasting, transformational impact. Join Solve on this journey at Contact Bridget Weiler
