CRESTHUB
CRESTHUB MAGAZINE
  • NEWS

    The Federal Government Will No Longer Tolerate the Importation of SIM Cards — Pantami

    The Nigeria Startup Bill Passes Third Reading at the House of Representatives

    The Nigeria Startup Bill Passes Third Reading at the House of Representatives

    ECWA Partners with Bitnob to Raise Charity

    ECWA Partners with Bitnob to Raise Charity

    Sudo Africa appoints Farida Kabir as Group Head of Growth

    Sudo Africa appoints Farida Kabir as Group Head of Growth

    Six States in Discussion to Adopt the Nigerian Startup Bill

    Six States in Discussion to Adopt the Nigerian Startup Bill

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

  • FEATURED
    Understanding nHub’s Build Back Better Strategy

    Understanding nHub’s Build Back Better Strategy

    Diversity Equity Inclusivity: Bringing More Disabled Persons into the Tech Ecosystem

    Diversity Equity Inclusivity: Bringing More Disabled Persons into the Tech Ecosystem

    Harnessing the Potentials of Social Media to Grow SMEs in Nigeria

    What the 5G Spectrum Launch and Starlink’s Expansion mean for Nigeria’s Digital Economy

    What the 5G Spectrum Launch and Starlink’s Expansion mean for Nigeria’s Digital Economy

    Against all odds, African female-led tech startups are raising funds

    Exploring the Need for Data Science in Nigeria

  • BLOCKCHAIN
    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Is Africa Ready to Operate a Digital Monetary Policy?

    Is Africa Ready to Operate a Digital Monetary Policy?

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    PLA2SMART Set to Lead a New Frontier in Nigeria’s Tourism Economy

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    How Blockchain can Transform the Financial Ecosystem in Nigeria

    How Blockchain can Transform the Financial Ecosystem in Nigeria

  • FINANCE
    What could Flutterwave and Chipper Cash’s no-license in Kenya mean?

    What could Flutterwave and Chipper Cash’s no-license in Kenya mean?

    How Two Nigerian Fintech Executives Flouted Anti-money Laundering Policy in the U.S

    How Two Nigerian Fintech Executives Flouted Anti-money Laundering Policy in the U.S

    Eight Alternative Virtual Dollar Cards to Use in Nigeria

    Eight Alternative Virtual Dollar Cards to Use in Nigeria

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Abeg Rebrands to Pocket, set to Pioneer Social Commerce in Nigeria

    Zambian Card- Issuer Union54 Raises $12 Million in a Seed Extension to Develop Homegrown Payment Cards

    Zambian Card- Issuer Union54 Raises $12 Million in a Seed Extension to Develop Homegrown Payment Cards

  • START UPS

    The Nigeria Startup Bill Passes Third Reading at the Senate

    Moove Raised $135 Million in H1 2022 to Scale its Vehicle Financing Business Globally

    GetEquity wants to Replicate its Nigerian Success in Kenya.

    GetEquity wants to Replicate its Nigerian Success in Kenya

    Kenyan foodtech Startup, Kune Shuts Down Months after Raising $1 Million

    Kenyan foodtech Startup, Kune Shuts Down Months after Raising $1 Million

    How 10 African Startups Raised $218.4 Million in May 2022

    How 10 African Startups Raised $218.4 Million in May 2022

    Autochek Acquires KIFAL Auto to Drive its North Africa Expansion

    Autochek Acquires KIFAL Auto to Drive its North Africa Expansion

  • PODCAST
CRESTHUB
  • NEWS

    The Federal Government Will No Longer Tolerate the Importation of SIM Cards — Pantami

    The Nigeria Startup Bill Passes Third Reading at the House of Representatives

    The Nigeria Startup Bill Passes Third Reading at the House of Representatives

    ECWA Partners with Bitnob to Raise Charity

    ECWA Partners with Bitnob to Raise Charity

    Sudo Africa appoints Farida Kabir as Group Head of Growth

    Sudo Africa appoints Farida Kabir as Group Head of Growth

    Six States in Discussion to Adopt the Nigerian Startup Bill

    Six States in Discussion to Adopt the Nigerian Startup Bill

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

  • FEATURED
    Understanding nHub’s Build Back Better Strategy

    Understanding nHub’s Build Back Better Strategy

    Diversity Equity Inclusivity: Bringing More Disabled Persons into the Tech Ecosystem

    Diversity Equity Inclusivity: Bringing More Disabled Persons into the Tech Ecosystem

    Harnessing the Potentials of Social Media to Grow SMEs in Nigeria

    What the 5G Spectrum Launch and Starlink’s Expansion mean for Nigeria’s Digital Economy

    What the 5G Spectrum Launch and Starlink’s Expansion mean for Nigeria’s Digital Economy

    Against all odds, African female-led tech startups are raising funds

    Exploring the Need for Data Science in Nigeria

  • BLOCKCHAIN
    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Is Africa Ready to Operate a Digital Monetary Policy?

    Is Africa Ready to Operate a Digital Monetary Policy?

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    PLA2SMART Set to Lead a New Frontier in Nigeria’s Tourism Economy

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    How Blockchain can Transform the Financial Ecosystem in Nigeria

    How Blockchain can Transform the Financial Ecosystem in Nigeria

  • FINANCE
    What could Flutterwave and Chipper Cash’s no-license in Kenya mean?

    What could Flutterwave and Chipper Cash’s no-license in Kenya mean?

    How Two Nigerian Fintech Executives Flouted Anti-money Laundering Policy in the U.S

    How Two Nigerian Fintech Executives Flouted Anti-money Laundering Policy in the U.S

    Eight Alternative Virtual Dollar Cards to Use in Nigeria

    Eight Alternative Virtual Dollar Cards to Use in Nigeria

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Abeg Rebrands to Pocket, set to Pioneer Social Commerce in Nigeria

    Zambian Card- Issuer Union54 Raises $12 Million in a Seed Extension to Develop Homegrown Payment Cards

    Zambian Card- Issuer Union54 Raises $12 Million in a Seed Extension to Develop Homegrown Payment Cards

  • START UPS

    The Nigeria Startup Bill Passes Third Reading at the Senate

    Moove Raised $135 Million in H1 2022 to Scale its Vehicle Financing Business Globally

    GetEquity wants to Replicate its Nigerian Success in Kenya.

    GetEquity wants to Replicate its Nigerian Success in Kenya

    Kenyan foodtech Startup, Kune Shuts Down Months after Raising $1 Million

    Kenyan foodtech Startup, Kune Shuts Down Months after Raising $1 Million

    How 10 African Startups Raised $218.4 Million in May 2022

    How 10 African Startups Raised $218.4 Million in May 2022

    Autochek Acquires KIFAL Auto to Drive its North Africa Expansion

    Autochek Acquires KIFAL Auto to Drive its North Africa Expansion

  • PODCAST
No Result
View All Result
CRESTHUB
No Result
View All Result
Home INNOVATION

INNOVATION CHALLENGE:MIT AWARDS $1 MILLION

by Cresthub Staff
November 1, 2017
in INNOVATION
Reading Time: 3 mins read
0
INNOVATION CHALLENGE
Share on FacebookShare on Twitter

This article first appeared on mitsloan.mit.edu

The MIT Initiative on the Digital Economy awarded more than $1 million in prize money Oct. 12 in its second annual MIT Inclusive Innovation Challenge.
The event, part of HUBweek 2017, celebrated for-profit and non-profit organizations that use technology to improve economic opportunity for workers
on the lower rungs of the economic ladder.

The IIC awarded $150,000 to each of the four grand prize winners, and $35,000 each to 12 runners-up competing in four categories:
financial inclusion; income growth and job creation; skills and matching; and technology access.

The goal of the competition, said MIT Sloan Professor Erik Bryniolfsson, director of the MIT Initiative on the Digital Economy, is“not only prosperity, but shared prosperity.”

Approximately 1,000 organizations from around the world competed, and 160 judges reviewed the applications.

The grand prize winners were:

LAUNCH CODE

LaunchCode expands the American tech workforce by providing free coding education to job seekers who lack traditional credentials.
It uses a low-cost, scalable model that replicates in-person coding classes, followed by matching them to paid apprenticeships with
hundreds of companies. More than four out of five apprentices become full-time hires.

 

AdmitHub (Technology Access)

Even though 2.5 million U.S. students enroll at colleges each year, 48 percent fail to earn a degree within six years.
Dropouts disproportionately come from underserved communities, which costs the U.S. an estimated $4.5 billion in lost earnings and taxes each year,
according to AdmitHub.
The company designed an artificial intelligence-driven virtual assistant for these students to receive round-the-clock personalized support.

 

EFL(FI)

Three billion people worldwide lack the credit history that lenders require for loans.
EFL uses psychometric and behavioral science-based credit scoring to approve potential borrowers who might be unable to get credit otherwise.
The company applies its work to loan repayment, providing insight into how personality drives credit risk across cultures,
allowing users to score potential borrowers anywhere at any time. EFL has lent $1.5 billion in loans across 15 countries,
aiming to empower lenders to grow with less risk.

 

LOGISTIMO (Income and Jobs)

Villages in many rural communities lack access to essential goods, disconnecting them from mainstream value chains.
Logistimo’s digital auction-based platform — using demand aggregation, load/route/schedule optimization, and fulfillment tracking — better connects
demand to local capacity. The company’s approach supports milk runs and line-hauls, integrating trucks, bikes, boats, and drones.
In less than two years the company has managed 24,000 deliveries for 1,000 customers, and created more than 80 jobs.

Related

Previous Post

How Cosmas Maduka turned $1 in into multimillion dollar.

Next Post

SOLE PROPRIETORSHIP: WHY MOST ENTREPRENEURS NOW CHOOSE TO GO SOLO.

Next Post
SOLE PROPRIETORSHIP

SOLE PROPRIETORSHIP: WHY MOST ENTREPRENEURS NOW CHOOSE TO GO SOLO.

BEST ACCOUNTING APPS

BEST ACCOUNTING APPS FOR SMALL BUSINESS

Please login to join discussion
No Result
View All Result

CRESTHUB MAGAZINE

Popular Posts

  • How Microsoft is building Strong Foundations for a Digital Economy in Nigeria
  • Understanding nHub’s Build Back Better Strategy
  • The Hub: How Persons Can Be Trained In Tech
  • These African Musicians are Investing in the Tech Ecosystem
  • Controversies Arise over NCIC’s Strike to Ban Facebook in Kenya

Cresthub

Learn, Start and Grow your Business with Innovative Business Solutions at Cresthub.

Company

  • About Us
  • Contact Us
  • Advertise With Us
  • Privacy Policy

Products

  • Cresthub Magazine
  • Cresthub Podcast
  • Cresthub Insight

Socials

Facebook Twitter Youtube
  • About Us
  • Contact Us
  • Advertise With Us
  • Privacy Policy

© 2022 Cresthub Media

No Result
View All Result
  • NEWS
  • FEATURED
  • BLOCKCHAIN
  • FINANCE
  • START UPS
  • PODCAST

© 2022 Cresthub Media

Cresthub newsletter
THE WEEKLY ROUND UP

Join our newsletter to get first hand insight in tech and start up happenings in Nigeria and Africa at large.

Enter your email address