Nonprofit, nonpartisan think tank the Milken Institute and the Motsepe Foundation have launched the Milken-Motsepe Innovation Prize programme.

The multiyear initiative focuses on global innovators and entrepreneurs developing technological solutions that accelerate progress towards implementing the United Nations Sustainable Development Goals (SDGs), with a spotlight on the African continent.

The programme will include multiple technology prize competitions in the areas of agriculture, energy, education and health.

“Fourth Industrial Revolution (4IR) technologies have the power to solve complicated socioeconomic and human problems. In the hands of entrepreneurs, these technologies can turn Africa into a global economic powerhouse and transform the world,” says Motsepe Foundation founder and chairperson Dr Patrice Motsepe.

Registration is now open for the first of these free-to-enter prizes.

The Milken-Motsepe Prize in AgriTech is a $2-million global competition for innovative solutions to increase economic value to farmers, from seed to sale.

The Milken-Motsepe Prize in AgriTech was developed through rigorous and inclusive consultations with more than 50 experts from a variety of disciplines, representing academia, industry and government, to define the competition guidelines and evaluation metrics.

Field testing will take place in Africa and solutions should have the potential to be applied globally.

Teams have until December 8 to register and submit designs and business models.

An independent panel of expert judges will select up to 25 teams to each receive $10 000 to develop small-scale prototypes over the ensuing six months. In the final round, teams will demonstrate their entries in field tests, which will be evaluated on a number of criteria.

The judges will award a $1-million grand prize, with additional prize money distributed among second and third place winners, a prize for the most creative use of 4IR technologies and a people’s choice prize.

Registration is free and, in addition to the prize money, teams will benefit from access to networking, training and other resources, the organisations note.

Those wishing to register for the prize should visit www.milkenmotsepeprize.org.