MIT to Award Over $1 Million to Organizations Using Technology to Create Greater Economic Opportunity for Workers

CAMBRIDGE, Mass., March 22, 2017 /PRNewswire-USNewswire/ -- "Productivity is at record levels, innovation has never been faster, and yet at the same time, we have a falling median income and fewer jobs," warns Erik Brynjolfsson, Director of the MIT Initiative on the Digital Economy (IDE). "People are falling behind because technology is advancing so fast and our skills and organizations aren't keeping up." It is, he says, "the great paradox of our era." This trend will only intensify unless new solutions emerge.

The MIT IDE believes that technology-driven solutions will empower people to participate more fully in our rapidly evolving digital economy, increasing incomes and ensuring employment opportunities. To reward and facilitate these inventive solutions during this unprecedented time of change, the MIT IDE launched the Inclusive Innovation Challenge (IIC). After a successful first year with nearly 300 applicants from across the globe, year two of the IIC has launched. Registration is now open at MITinclusiveinnovation.com.

The IIC will award over $1 million to "the superheroes of Inclusive Innovation" − organizations that are using technology to reinvent the future of work and create a more equitable economy. For-profit and non-profit organizations of any size, age, type, and nationality are encouraged to apply.

This year's award categories are:

• Skills Development & Opportunity Matching
• Income Growth & Job Creation
• Technology Access
• Financial Inclusion

Over 100 Core Judges and an expert Champion Committee will select 16 Winners from the applying organizations.

• Four Grand Prize Winners will each receive $150,000
• Twelve Winners will each receive $35,000

Applicants must register by June 7, 2017 and submit applications by June 21, 2017 when the Challenge closes. Winners will be announced during Boston's HUBweek (hubweekboston.com) on October 12, 2017 at a high-visibility event.

The Challenge is being funded with support from The Rockefeller Foundation, The Joyce Foundation, Joseph Eastin, ISN®, and Google.org.

Get Involved! To participate as a judge, sponsor, or communications partner, or to nominate an organization, email iic@mit.edu. To register or sign up for updates, visit: MITinclusiveinnovation.com

For more on the MIT Initiative on the Digital Economy, visit: ide.mit.edu

SOURCE MIT Sloan School of Management