PROVIDENCE – Citizens Financial Group Inc. recently launched its $100,000 Workforce Innovation Prize in collaboration with MIT Solve to encourage entrepreneurs to find “bold solutions for big challenges,” the bank announced.
The $100,000 award, part of the MIT Solve 2025 Global Challenge, is designed to drive innovations that equip individuals for today’s job market and the evolving workplace of the future, the bank said.
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The prize will support up to four Solver teams across all 2025 Global Challenges, or MIT Solve’s portfolio of alumni teams, according to a news release. The initiative is part of Citizens’ recent $10 million commitment for 2024-2025 aimed at enhancing workforce development programs and solutions throughout its reach.
“Through our partnership with MIT Solve, we’re empowering bold thinkers and problem-solvers to develop solutions that tackle the biggest challenges in workforce development,” said Michelle Hecht, head of corporate affairs at Citizens. “The Citizens Workforce Innovation Prize will generate ideas that can drive impact in Boston and New York, with the potential to scale and transform communities across the country.”
MIT Solve Executive Director Hala Hanna said she was excited to support the next wave of breakthrough solutions that will shape how people work and thrive.
“We’re thrilled to welcome Citizens as a supporter in our mission to drive innovation for social good. The Citizens Workforce Innovation Prize represents a powerful investment in the future of work – one that will empower visionary entrepreneurs to create lasting economic opportunity,” Hanna said. “Together, we’re excited to support the next wave of breakthrough solutions that will shape how people work and thrive.”
MIT Solve, an initiative of the Massachusetts Institute of Technology, is focused on driving transformational change by identifying and supporting innovative, technology-driven solutions to global challenges. The 2025 Global Solve Challenge invites innovators worldwide to tackle pressing issues and create tangible, real-world impact.
Applications for the MIT Solve 2025 Global Challenges are open until April 17. Priority will be given to solutions that can address workforce development challenges in Boston and New York, N.Y., while having the potential to scale to other regions, according to MIT Solve.
(UPDATE recasts fifth paragraph.)
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
