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Right now, I’m proud to announce that the sixth-annual Cisco International Drawback Solver Problem is now accepting functions.
One among Cisco’s signature Company Social Accountability (CSR) packages, the Problem will award $1 million in money prizes to early-stage tech entrepreneurs who’re addressing a few of our hardest social and environmental issues.
We launched the Cisco International Drawback Solver Problem in 2016 to jumpstart progressive concepts that profit society, catalyze financial progress, and create jobs. Since then, we’ve awarded $2.25 million USD to 63 start-ups in 20 nations.
This yr, in response to the rising urgency to reverse local weather change, we’re introducing 5 new prizes:
- $100,000 USD Local weather Influence and Regeneration Prize
- $50,000 USD Local weather Influence and Regeneration Prize Runners-Up (x4)
These prizes will go to groups with options that may scale back or take away greenhouse fuel (GHG) from the atmosphere or regenerate depleted ecosystems.
The idea of “regenerative sustainability” is turning into more and more essential to stopping the development of local weather change. These options give attention to enhancing social and ecological programs, which can in flip assist to revive the planet. Composting is one acquainted instance of regeneration, as a result of the natural supplies utilized in compost pull carbon out of the environment, versus emitting methane in the event that they had been merely thrown away right into a landfill.
Enjoying a task in addressing local weather change is a precedence for Cisco, mirrored in our current dedication to achieve internet zero greenhouse fuel emissions by 2040. We’re enthusiastic about this chance to acknowledge 5 groups that share this dedication and are doing the essential work of decreasing emissions and regenerating ecosystems.
Along with the 5 Local weather Influence and Regeneration prizes, the next prizes will spherical out our $1M USD prize pool:
- $250,000 USD Grand Prize
- $75,000 USD Regional First Runners-Up (x3)
- $50,000 USD Second Runners-Up (x3)
- $50,000 USD Traditionally Black Faculties and Universities (HBCU) Begin-Up Prize
- $10,000 USD Individuals’s Selection Award
- $15,000 USD Cisco Workers’ Selection Award
We are going to settle for functions till 5 p.m. PT on Friday, February 11, 2022 and winners will likely be introduced in August 2022.
The significance of prize challenges
Money prizes present a major funding supply that start-ups can use instantly, the place they want it most. Additionally they give groups the chance to refine their enterprise plans and hone their messaging. The Cisco International Drawback Solver Problem, for instance, gives free pitch teaching webinars and different sources to candidates.
Prior to now 5 years, we’ve seen a lot of our winners develop, scale, and make a major impression. For instance, Oorja gained our Grand Prize in 2019 for its pay-as-you-go group solar-powered water pumps. Their resolution provides smallholder farmers (who produce a 3rd of the world’s meals) entry to year-round reasonably priced irrigation with out counting on costly and polluting diesel gasoline.
Oorja has been capable of increase its companies to incorporate milling and cooling over the previous two years and since profitable the prize, they’ve additionally been acknowledged with different noteworthy awards such because the Keeling Curve Prize, which honors initiatives with the potential to scale back GHG emissions or promote carbon uptake.
“We utilized for the Cisco International Drawback Solver Problem to achieve the extent of impression that we needed to have,” says Oorja co-founder Clementine Chambon. “We now have used the prize funding to get extra initiatives on the bottom, to validate our technological providing, and [to] be sure that it was actually essential to the farmers.”
Different previous profitable options are making progress on a variety of social and environmental points – from eradicating malaria to enhancing youngster literacy to offering web connectivity in rural communities and extra.
Have you learnt a couple of start-up with a function that would profit folks, communities or the planet? Encourage them to use to the Cisco International Drawback Solver Problem 2022!
Study extra and apply.
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