There was a lot of discussion about how technology isn’t being used to solve large problems surrounding this year’s Supernova conference. As someone using technology to further social change, I couldn’t agree more.
Accordingly, I was delighted to read the announcement out of the FORTUNE: Brainstorm TECH Conference about the first-ever Legatum FORTUNE Technology Prize of $1,000,000 for technology that offers practical and sustainable innovations that accelerate prosperity:
The first-ever Legatum FORTUNE Technology Prize was announced today by FORTUNE managing editor Andy Serwer during the FORTUNE: Brainstorm TECH Conference. The Prize fund of $1,000,000 will be awarded annually to for-profit organizations, or individuals, whose application of technology solutions has demonstrably improved the quality of life amongst impoverished populations in developing countries.
“This new Prize will help us seek out, recognize, and honor individuals and organizations that demonstrate the impact of technology on intractable development issues, establishing these visionaries as role models for a world ready for new solutions,” said Serwer.
Legatum is a privately owned international investment organisation, whose primary focus is commercial investment and which also applies its investor’s expertise in tackling long-standing development challenges around the globe. The partnership between Legatum and FORTUNE highlights a shared belief in business as a powerful force in development and the need for greater engagement in emerging markets.
“History has taught us that technology is a key driver of increased economic prosperity and has the real potential to improve lives in developing countries,” said Mark Stoleson, President of Legatum. “The Legatum FORTUNE Technology Prize is designed to identify the very best technology companies that are bringing innovation to frontier markets around the globe. Our goal is to highlight new model for effective development, and stimulate an escalating cycle of innovation and new investment.”
Competitors for the Legatum FORTUNE Technology Prize will be nominated by a network of technology experts and evaluated by a panel of eminent judges from the worlds of technology, business and development. Under the leadership of Iqbal Z. Quadir, Director of the Legatum Center for Development and Entrepreneurship at MIT, the judges’ experience will encompass grassroots development programs, private equity investment, academia, and policy-making.
The program will culminate in the presentation of the first $1,000,000 Legatum FORTUNE Technology Prize at the FORTUNE 500 Forum in Washington, DC in December 2008. For more information, please visit: www.fortunebrainstorm.com/tech.
If you’re applying, let us know in the comment section!
