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Solve at MIT 2022: working together to profitably solve Global Challenges
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The beginning of this month marked a flagship event for one of our key partners, Solve at MIT 2022. FPC and MIT Solve have worked together for the last three years - and we have an even closer partnership in the pipeline as we plan to invest for profit capital with Solve. So watch this space!
We are pleased to be part of MIT Solve's global marketplace for social impact innovation with a mission to drive innovation to solve world challenges across Health, Sustainability, Learning and Economic Prosperity. To date, MIT Solve has brokered commitments of over $40m in funding and resource commitments from leading partners supporting the ecosystem. We are pleased to work together to ensure the rest of the world has access to one of the leading centres of innovation.
At the beginning of May, Solve at MIT once again brought together global innovators to build partnerships and tackle global challenges in real-time alongside the Solve community–Solver teams, MIT faculty, and social impact leaders from Solve Member organisations. This includes General Motors, The Nature Conservatory, HP, The Bill & Melinda Gates Foundation. Solve at MIT 2022 convened over 300 social impact leaders including 62 Solver teams as well as thousands of virtual supporters.
The event featured plenaries where leaders from various sectors discussed the state of global issues and how technology can contribute to making us more resilient. Throughout the three days, Solver teams, Members, and supporters joined over a dozen working sessions to discuss the progress and obstacles they were experiencing, and brainstorm how to scale their impact.
We are so impressed with the work of MIT Solve - and wanted to use this Future Thinking to highlight and share this with you.
Please read on below to find out more - as always, don't hesitate to get in touch if more information would be helpful.
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Watch the Opening Plenary from Solve at MIT 2022
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Solve at MIT 2022: Takeaways
We are delighted to share with you the following key takeaways from Solve at MIT 2022, as shared in their blog Solve at MIT 2022: Demystifying World Issues One Connection at a Time
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There’s human capital at stake for every technological advancement
Technology has limitless capacity to solve some of the world's biggest challenges, but developing and deploying it comes with its own concerns. Some of the most dangerous consequences of technological development are human and land degradation.
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Impact investment does not equate to charity
Impact investing has grown tremendously in the last decade, but there is still a misrepresentation of what it should look like.
In the plenary, Angela Jackson, chief ecosystem investment officer at Kapor Enterprises asserted, “We invest with an impact lens but we also want returns.… I’d like to see investors think beyond [investing] because it’s the moral thing to do or the charitable thing to do, but really doing it in service of equity and in service of efficiency.”
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Start alone but don’t stay alone
There may be a time in your life when you feel compelled to solve a problem and there may be no one else available to take action with you. However, Thanasi Dilos, co-founder of Civics Unplugged and Solv[ED] judge, reminded Solve at MIT 2022 that community support leads to better outcomes. During the Closing Plenary: Young Leaders on the Horizon, Dilos shared, “Funding is great for young people, but what is really also important is community and agency.” Adding also, “No one is self-made—everyone is made in community.”
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Challenge Investing
Every year, MIT Solve hosts open innovation Challenges to source tech-based solutions to urgent global problems. The most promising social entrepreneurs from across the world are chosen to join MIT Solves' Solver class in the areas of Economic Prosperity, Sustainability, Learning, and Health. If you would like more information or if you’d like to invest in some of the most promising growth companies based on top research then please don't hesitate to get in touch.
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