Competition Launched to Tackle Income Inequality

The World Economic Forum, in partnership with Canada’s International Development Research Centre (IDRC) and the World Bank, is launching a competition to crowdsource sustainable and scalable solutions to the inclusive growth challenge.

The initiative, which aims to identify policies, business practices and partnerships that enhance productivity and growth while delivering social impact, will feature the best examples on a dedicated digital platform to be launched in 2017. The authors of the winning submissions will be invited to take part in a global symposium where they will meet leaders from government, business, civil society and academia to discuss how to accelerate their proposals to solve social challenges. A series of regional events during 2017 will offer additional opportunities to develop, launch and scale new ideas and partnerships.

The exercise seeks to address the inclusive growth challenge, where income inequality is rising within nations. Beyond a huge knowledge and coordination gap between key actors, there is an estimated $2.5 trillion hole in funding to achieve the United Nations’ Sustainable Development Goals: an untapped opportunity for the private sector to contribute solutions to social and development challenges. Ultimately, the competition aims to help identify, promote, replicate and scale up policies, business practices and partnerships that foster inclusive growth and development. It will focus on opportunities for innovation, experimentation and collaboration between stakeholders that support a prosperous, inclusive and sustainable future.

The competition is open to any individual or entity (public, private or civil society organization). Shortlisted submissions will be reviewed by a panel of judges, which will select the winning submissions. Submissions are due by 19 December 2016, and the winning ideas will be announced by mid-March 2017.

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