issues an open call for US$10 million Inclusive Growth and Recovery Challenge

14:15 | 03/06/2020 Companies

(VEN) - Today, issued an open call for breakthrough ideas that harness the power of data science to help people and communities rebound and remain resilient in the wake of Covid-19 and its economic impact. Launched in partnership with Mastercard Center for Inclusive Growth and The Rockefeller Foundation, the US$10 million Inclusive Growth and Recovery Challenge seeks to foster and promote innovative, scalable solutions from people and organizations all over the world.

The Covid-19 crisis has underscored both the vulnerability of individuals and communities to economic shocks and the important role data science can play in solving some of the world’s most pressing challenges. As private, civic and social sector organizations tackle the health and economic implications of the pandemic, data science can inform the development of tools and insights that can be used in addressing the needs of all segments of society, especially those most vulnerable.

The Challenge will award up to ten winners with data science talent, software, training, funding and other support valued from US$10,000 up to US$10 million. Submissions are welcome from individuals and teams with extensive data science experience, as well those with an idea for how to use data science to address societal issues and advance shared prosperity.

“Coming out of the Covid-19 crisis, we need to double down on ensuring that economic growth is inclusive and that the economically vulnerable have a path to greater financial security and resilience,” said Michael Froman, vice chairman of Mastercard. “With this Challenge, we aim to tap into expertise and ingenuity from around the world to identify ways in which data science can contribute to tools and platforms that have positive social impact”.

Challenge will reward scalable and breakthrough projects that use data science to support inclusive growth and recovery

The Challenge welcomes all proposals using data science to advance inclusive growth and recovery with a preference for projects that promote financial security and economic mobility for workers, help micro and small businesses access capital, and support economic development. Submissions must have a charitable impact and proposals addressing inclusive growth challenges are eligible, either as an individual or as a team from every part of the world.

“From the Covid-19 pandemic to climate change, data science and technology are more important than ever to tackling the world’s biggest challenges,” said Dr. Rajiv J. Shah, President of The Rockefeller Foundation. “We’re committed to building a future where there are tens of thousands of data scientists solving these problems - because that’s what is needed to truly serve the world’s most vulnerable.”

“The Inclusive Growth and Recovery Challenge creates the opportunity to learn from, lift-up and build community around promising applications of data science for social impact,” said Ginger Zielinskie, Interim Executive Director, “We are excited to hear from diverse organizations across the globe.”

The Challenge will have two phases: In phase one, beginning on May 19, applicants should submit an initial application, which will be reviewed by expert judges in collaboration with’s technical partner, DataKind. In phase two, selected finalists will receive support to develop a more detailed proposal and engage in a virtual interview. The deadline for initial proposals to the Challenge will be July 17, 2020.