Four winners named in $1m Mohammed bin Rashid Initiative for Global Prosperity

Dubai: The four winners of the $1 million Mohammed bin Rashid Initiative for Global Prosperity have been named, which entitles them to monetary prizes, mentoring support and access to global organisations. They and eight runners-up will share the $1 million proceeds.

The winners – who form ‘Cohort 2’ of the Global Maker Challenge – are Simbi Foundation, ColdHubs, POKET, and Plastics for Change. They were selected following evaluation led by the Massachusetts Institute of Technology’s SOLVE initiative (MIT SOLVE) and a jury of 47 globally renowned subject matter and innovation experts.

The Initiative also identified the four “most disruptive” solutions, that will be connected to global organisations to receive guidance and mentorship through a programme in partnership with the University of Cambridge.

ID2020, Stixfresh, Agricycle Global, and AlgiKnit were identified to be the most disruptive solutions. These start-ups will benefit from the Global Prosperity Award mentorship programme and will receive guidance and support from global organisations to help them overcome their non-financial challenges.

Cohort 2 was launched at the United Nations Industrial Development Organisation’s (UNIDO) 8th Ministerial Conference of the Least Developed Countries that was held in Abu Dhabi in November last. More than 3,400 entries from 148 countries were received. 

In a statement, Badr Al-Olama, Head of the Organising Committee for the Global Manufacturing and Industrialisation Summit (GMIS) said: “Just like us, our humanitarian start-ups too believe that access to innovation paves the way to building prosperity. Today, we celebrate the social entrepreneurs that leverage innovation for work that transcends borders.”