International Collaboration Expands the Reach of the Challenge Cup
Washington, D.C. – Today, 1776, together with Revolution and Global Entrepreneurship Network, announced a diverse collection of global- and local-focused partners for the 2016 Challenge Cup program. The partners, ranging from the World Bank Group to major corporations and local governments, join 1776 to span the globe searching for startups developing highly scalable companies that tackle our world’s greatest challenges.
Challenge Cup is an annual global tournament, this year being hosted by incubators and startup hubs in over 50 cities worldwide. Startups advance through three rounds of competition — Local, Regional and Global Finals. The Regional round events are taking place this year in Mexico City, San Francisco, Dubai, Nairobi, Tokyo, New York, Singapore, Tel Aviv and London. 1776 will fly the Regional winners from each of these cities and a host of wild card companies to the Challenge Cup Global Finals in June 2016 in Washington, D.C., where they will share their visions on a global stage. At the Global Finals, the startups will compete for over $1 million in cash and equity prizes, as well as spend time with key investors, customers, media and other connections that can help them succeed on a global scale.
“We are pleased to be joined by the tremendous support of our partners who are committed to working with us as 1776 propels the Challenge Cup to be a key part of a greater global innovation movement,” said Evan Burfield, Cofounder & Co-CEO of 1776.
Joining 1776 global partners, Revolution and Global Entrepreneurship Network, are a range of corporations, governments and non-governmental organizations, who each bring unique capabilities, resources and networks to aid the global tournament participants:
- Philips: As the Global Health Technology partner, Philips is a leading corporation driving insights and access to innovative technologies in digital health while advancing the startup economy around the world.
- DC Mayor’s Office – With 1776, Mayor Muriel Bowser’s Administration is focused on promoting the District of Columbia as a hub for global innovative companies developing solutions that address the challenges impacting local communities.
- World Bank Group – Through the Climate Technology Program and its global network of Climate Innovation Centers, the World Bank Group is partnering with 1776 to promote cleantech innovation and help create a strong entrepreneurship ecosystem in the region.
- Amazon Web Services (AWS) – As a collaborator, AWS will provide winners of the competitions with AWS credits that can be used on eligible cloud services to help the companies innovate using cloud technology.
- Inter-American Development Bank (IDB) – As Challenge Cup’s 1776 Regional partner for Latin America and the Caribbean, the IDB will sponsor the Mexico City competition, helping to select companies that will improve lives in the region by creating promising solutions to development challenges.
- Japan Innovation Network – 1776 is partnering with Japan Innovation Network to host the Regional competition in Tokyo and discover the most promising startups from East Asia.
- AARP – By supporting the Challenge Cup for competitions in San Francisco and New York, AARP is working with 1776 to discover the most promising startups providing caregiving solutions for the 50-plus population. One startup from these two U.S. Regional competitions will win $10,000 and be invited to compete at AARP’s Health Innovation@50+ LivePitch on April 27.
“The entrepreneur who holds the key to solving a major world challenge may very well live in a place we’ve not previously looked for high-growth startups,” said Donna Harris, Cofounder & Co-CEO. “If society is to benefit from their ideas, we must find them, get them into the spotlight, and help them scale, and each one of our partners is helping to make that happen.”
The Challenge Cup partners support the global program through mentoring the competing entrepreneurs, providing industry-expertise and participating in the prize-packages. For additional details on the Challenge Cup’s prize package, visit the program’s website here.
1776 is a global incubator and seed fund that uncovers promising highly-scalable startups focused on solving the world’s most fundamental challenges and helps engineer their success. 1776 focuses on startups in the most broken, entrenched industries and sectors that impact millions of lives every day – specifically education, energy, health and cities. From its headquarters in Washington, D.C., it is sparking a global movement of high-growth startups driving meaningful innovation through its Challenge Cup and Startup Federation, the premiere network of incubators throughout the world. For information, please visit www.1776.vc or follow us on Twitter @1776.