2019 CHALLENGE

MEANINGFUL

Foreveryoneyoungpersonwiththecommitment,capabili7es,and(importantly)privilegetohavepar7cipatedintheHultPrize,morethan50otherslackopportunityGlobally,youth(definedasages15-35)arethree7mesaslikelyasadultstobeUnemployed.

BARRIERS TO OBTAINING MEANINGFUL WORK

LackofSkills

LackofMobility/GeographicInequali7es/CostofRealEstateinCi7es

LackofConfidence

WHAT YOU CAN’T (EASILY) CHANGE BUT SHOULD UNDERSTAND

PoorPublicPolicy

Cronyism,Favori7sm,andCorrup7on

MacroDisrup7ons

TechnologicalDisrup7on

“beneficiaries”ofsuchprogramstemporarilyreceivepaychecks,butbecausetheydonotlearnmarketrelevantskills,theyarenotlong-termprospectsforeconomicself-sufficiency.

Acceleratorsandincubatorsareoverwhelminglylocatedinci7es,whereasmanyoftheworld’smostdisconnectedyouthliveinruralplaces.Foranother,theyareprimarilyfocusedonadigitalversionof“tech.”Ingeneral,acceleratorsandincubatorstodayreachandservethosewhoarealreadythemostlikelytofindmeaningful,stablework.

Newwaystoorganizesocietythatwillcreatelarge-scaleopportuni7esforyouthtoengageinmeaningfulwork.

Learning: Creating pathways to meaningful work through improved skills

Havebuiltlearningintotheirbusinessmodels,andmanyhavetakentheextrastepsneededtobringneglectedtalentintotheworkforce.Ex.-Experien7allearninghasbeenthephilosophybehindeveryEFprogram-Azizini7allyprovidedworkforwomeninunderdevelopedareasthattheycoulddoathometheirskillsimproved,theytrainedotherwomentomeetthegrowingdemandforBareeze’shighfashionco\onclothing.

Matching: Connecting buyers and sellers on multisided platforms

Companiesinthiscategoryare“mul7-sidedpla]orms”—eBaybeingamongthefirst—thatbringtogetheralargenumberofbuyersandsellersinamarketplaceofone-on-onetransac7ons.

Sourcing: Building a business on hidden talent and productive capabilities

Companiesinthiscategoryhaveusedtechnologytoovercomedistancebydigi7zingwork,increasingtheefficiencyofsupplychains,andiden7fyingtalentthroughcompe77ons.

Alibaba:apla]ormthatwouldallowcustomersintheUnitedStatestobuydirectlyfromChinesecompanies.

Creating

Companiesinthiscategorycreatemeaningfulworkbyinspiring,educa7ng,andsuppor7ngentrepreneurs.

McdonaldsThefirstwasfinding,inspiring,andtrainingfranchiseowners.Thesecondwascrea7ngabusinessmodelbasedlargelyonrentalincomefromfranchisedloca7ons,whichmadehisfranchisingopera7onnotjustsustainablebuthighlyprofitable.Kickstarter,highlysuccessfulcompanyhasnurturedentrepreneurialcapabili7esandsupportedthedevelopmentofentrepreneursonalargescalebyprovidingfinancing.

Ascending Market countries Youthpopula7onsaregrowingrapidly,bothintotalandasashareoftheoverallpopula7on.Inascendingmarketcountries,youthareabundantbuteconomicallyexcluded.Inthesecountries,aformaljobisaanall-toorareluxury.

Achronicprobleminascendingeconomiesisthatcollegegraduatesstruggletofindemploymentopportuni7esthatmatchtheirlevelofeduca7on

Aging Countries

Youthareincreasinglyscarceinagingcountries,buttheyfacethechallengeofeconomicmarginaliza7on,duetothelengtheningofre7rementandtheintensifieduseoftechnology.Inshort,the20th-century“job”isavanishingnecessity.

Theyliveinplaceswhereeconomicgrowthisgenerallyslowor(incasesofrecession)nega7ve.Furthermore,theyfacesignificantcompe77onintheworkforce—largelyfromseniorswhohavechosentostayintheworkforceandfromtheautoma7on/digi7za7onofwork.

Achronicprobleminascendingeconomiesisthatcollegegraduatesstruggletofindemploymentopportuni7esthatmatchtheirlevelofeduca7on.

Inmiddle-incomecountrieswithmuchlargerpropor7onsofcollegegraduates,morethanone-fichofyoungjobholderswereoverqualifiedfortheworktheyweredoing.

MORE IS NOT NECESSARILY BETTER