Robust financial markets play a crucial role in supporting private-sector-led growth, job creation, financial security, and the sustainable funding of national development priorities. Through two flagship training programs, we work with governments and the World Bank Group to train, inform, and empower the next generation of financial policymakers and public-sector fund managers who can effectively drive financial market reforms and foster shared prosperity for all.
Historically Black Colleges and Universities (HBCUs) continue to be overlooked as a resource for quality talent in the investment industry, despite a decades-long history of producing global leaders in financial services. Yet greater diversity, equity, and inclusion (DEI) in the asset management space remain at the forefront of many issues facing the industry. DEI continues to be a pertinent focus of asset owners and managers—particularly the challenge of sourcing top diverse talent.
To help connect resources to talent and as a continued commitment to developing diversity, equity, and inclusion across the business community, the Milken Institute launched the HBCU Fellows Program for sophomore undergraduate students in early 2023. The program offers an eight-week virtual curriculum, in partnership with premier finance education platform ViableEDU, for Fellows to learn more about finance alongside opportunities for professional development, including in-person networking opportunities and exclusive conversations with the Milken Institute's network of leaders in the financial industry.
PROVIDE tailored training to each cohort of students to develop the knowledge and professional skills needed for careers in asset management; and
CONNECT each cohort of students with the broader network of program alumni, established asset management professionals, and the Institute's experts to build the next generation of competitive and successful industry leaders.
In 2021, the Milken Institute, in partnership with the Motsepe Foundation, launched the Milken-Motsepe Innovation Prize Program. The program is a series of multiyear, multimillion-dollar innovation competitions and awards harnessing Fourth Industrial Revolution technologies to advance technological solutions toward the United Nations’ Sustainable Development Goals (SDGs) in Africa.
The inaugural prize, the Milken-Motsepe Prize in AgriTech, launched in April 2021 and challenged global innovators to demonstrate solutions for smallholder farmers in Africa to utilize tech to bring more food to the table. More than 3,500 entrepreneurs from 105 countries across six continents registered. Competition judges reviewed and selected 25 finalists and awarded $250,000. The finalists had a year to field test their ideas across 16 countries in Africa. The five winners were announced at the 2023 Milken Institute Global Conference, including the $1 million grand prize.
The Milken-Motsepe Prize in Green Energy, launched in November 2022 at the Milken Institute Middle East and Africa Summit and challenged global entrepreneurs to expand access to reliable, affordable, and sustainable electricity in Africa. In May 2023, the judges selected the 20 most transformative ideas from hundreds of registrants and awarded, in total, $400,000 for teams to test their innovations. These teams represented 12 countries across three continents. Their innovations include potential breakthroughs in wind, solar, hydro, and geothermal electricity generation, as well as energy storage and distribution. The judges then selected five teams to advance to the finalist round and awarded a total of $450,000 to teams for further testing. In February 2024, the finalist teams field-tested their innovations in South Africa (see more information below). In May 2024, the judges awarded the $1 million grand prize and a Runner-Up Prize of $250,000 at the 2024 Milken Institute Global Conference.
The Milken-Motsepe Prize in FinTech launched in May 2024 at the Milken Institute Global Conference to award innovative companies that best demonstrate the use of cutting-edge technologies to expand access to capital and financial services for small businesses in emerging and frontier markets. There is $2 million in prize funds available, with a $1 million grand prize for the winning company. Registration is free and open to anyone around the world.
