Michael Bloomberg Kicks Off $1 Million Global Competition



The Genesis Prize Foundation announced today that the inaugural Genesis Prize Laureate, Mr. Michael R. Bloomberg, has chosen to invest the $1 Million award to create a global competition, named the Genesis Generation Challenge. The new competition will strive to find – and fund – the next big idea that would measurably better the world. The Genesis Generation Challenge is designed to encourage teams of change agents from across the world to submit ideas for projects, guided by Jewish values, that demonstrate innovation and creativity in addressing the world's pressing issues. Up to 10 winning teams each will be awarded at least $100,000 to implement their initiatives. The competition will officially begin on August 1, 2014 through an online submission process found at www.Genesis-Generation.org. Winners will be announced in the first quarter of 2015.

"To me, nothing is more central to Jewish values than wanting to make the world a better place," said Bloomberg. "Young people in every corner of the earth have great ideas of how to change the world but lack the resources they need to try. The Genesis Generation Challenge will help find and fund them."

Project concepts can focus on any subject, such as environmental sustainability, urban design, clean technology, sustainable cities, public health, health and wellness, global education, cross-cultural exchanges, and poverty alleviation. Submissions can be intended as nonprofit or for-profit ventures, and may represent new or early stage ideas. Teams will be matched with a mentor in their field to help ensure project success and will be convened to share ideas and learn from each other.

The announcement came in advance of Bloomberg's formal acceptance of the inaugural Genesis Prize, a $1 million award that will annually recognize an honoree who has attained excellence and international renown in his or her field, and whose actions and achievements embody the character of the Jewish people through commitment to Jewish values, the Jewish community and/or the State of Israel. Bloomberg will receive the prize at a ceremony today in Jerusalem.

Bloomberg was named the inaugural Genesis Prize laureate for his exceptional achievements in public service, philanthropy and entrepreneurship, and his commitment to bettering the world around him. The Prize is administered by a partnership of the Office of the Prime Minister of the State of Israel, Genesis Philanthropy Group, and The Jewish Agency for Israel.

Genesis Philanthropy Group has established an endowment in the amount of $100 million to launch the Genesis Prize Foundation, as well as fund the prize and related endeavors that promote young adult engagement.