The MacArthur Foundation, known for bestowing “genius” grants, introduced a new competition today that would award $100 million to an organization with the best proposal to solve a global problem.
The New York Times reports the competition, called ‘100&Change,’ is open to organizations in any field, anywhere in the world, as long as the proposal identifies a problem affecting people, a place, or the entire planet and comes up with a way to fix it.
The competition is open to nonprofit and for-profit organizations, but not to individuals or government entities.
The foundation says it is “placing a few big bets” that significant progress could be made on social challenges like incarceration, climate change and nuclear risk. It did not place limits on what kind of problems should be addressed to be eligible for the award, which will be given every three years.
The application process, the foundation says, is designed to provide feedback and visibility, so the proposals that do not win the award might still attract backing or other forms of support.
Registration must be completed online by Sept. 2, and applications detailing the problem, its solution and its budget, along with a video pitch, will be accepted through Oct. 3.
Semifinalists will be announced in December, and finalists, who will be chosen in the summer of 2017, will present their solutions during a live event in the fall of 2017. Then the board will decide which organization will receive the $100 million grant.
