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
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