Milken–Motsepe Prize Program
Overview
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.
Milken-Motsepe Prize in AI and Manufacturing
Why AI and Manufacturing?
This prize is designed to transform manufacturing value chains in emerging markets through AI and advanced data analytics, boosting efficiency, reducing waste, and driving innovation and operational excellence. This innovation award offers a total of $2 million in prizes, including a $1 million Grand Prize, which will be announced and celebrated in May 2026.
Milken-Motsepe Prize in FinTech
Why FinTech?
The Milken-Motsepe Prize in FinTech is designed to expand access to capital and financial services for small businesses in emerging and frontier markets. This innovation award offers $2 million in total prizes, this includes a $1 million Grand Prize announced and celebrated at the Milken Institute’s 2025 Global Conference in Los Angeles, California.
Milken-Motsepe Prize in Green Energy
Why Green Energy?
The Milken-Motsepe Prize in Green Energy incentivized entrepreneurs who have ideas for solutions to advance progress toward UN Sustainable Development Goal (SDG) 7: Ensuring access to affordable, reliable, sustainable and modern energy for all. This prize is closed, and the winners were announced and awarded at the 2024 Milken Institute Global Conference.
Milken-Motsepe Prize in AgriTech
Why AgriTech?
The inaugural Milken-Motsepe Prize focused on accelerating progress towards Sustainable Development Goals (SDGs) 1 and 2: no poverty and zero hunger. The Milken-Motsepe Prize in AgriTech was a global competition for innovative solutions to increase economic value to farmers, from seed to sale. This prize is closed, and the winners were announced and awarded at the 2023 Milken Institute Global Conference.
Milken–Motsepe Prize Program
Related Content
Advancing Africa’s Digital Economy: A Prize in FinTech to Advance Financial Inclusion
Approximately 350 million adults in sub-Saharan Africa lack access to essential financial services, trapping them in a cycle of economic instability that hinders their ability to open bank accounts, save for emergencies, and achieve...Read Report
Milken-Motsepe Prize in Green Energy Finalist: Milken-Motsepe Prize Finalist: GEG Group of Companies
“We went into this because it looks scalable and viable. There's lots of great technologies that are expensive. But we are attracted to this because the costs per kilowatt hour are quite competitive. We would not have developed a technology...Read ArticleMilken-Motsepe Prize in Green Energy Finalist: Milken-Motsepe Prize Runner-Up: OMNIVAT
“OMNIVAT was basically born out of ideas and previous work that all of these co-founders had worked on with the hopes that one day, someone somewhere will see Africans’ potential to our own problem-solving and the very real impact that we...Read ArticleMilken-Motsepe Prize in Green Energy Finalist: Milken-Motsepe Prize Grand Prize Winner: Aftrak
“Suddenly, we had a viable system, and we complete the economic circle to make our microgrid sustainable in the long term. [Before the prize], this did not exist. With the prize, we have slingshotted this into reality. We ended up with...Read ArticleMilken-Motsepe Prize in Green Energy Finalist: Milken-Motsepe Prize Finalist: Smart Agri-Centres
“The long-term impact of Smart Agri-Centers is a massive increase in incomes for farmers in rural communities. They are now able to operate their businesses for much longer hours. They're able to access energy that they couldn't access...Read ArticleMilken-Motsepe Prize in Green Energy Finalist: Milken-Motsepe Prize Finalist: Newdigit Technologies
“We're the first start-up in Nigeria that is manufacturing green hydrogen and fuel cell technology. This innovation, Just Add Water, has been tested and deployed in real communities and is a game changer for many communities in Africa.” —...Read Article
Electricity Access in Africa: Why a Green Energy Innovation Competition?
This report explores the challenges and opportunities surrounding accessible energy in Africa, emphasizing sustainable solutions that drive progress and prosperity. Why It Matters In Africa, reliable electricity access is essential for...Read Report
Stories from the Field: Milken–Motsepe Prize in Green Energy Meet the Finalists: Omnivat
Tell us about your team. Our team is composed of five members with diverse backgrounds who represent various corners of sub-Saharan Africa (South Africa, DR Congo, and Tanzania). We all met at the University of Cape Town and have been...Read Article
Stories from the Field: Milken–Motsepe Prize in Green Energy Meet the Finalists: Newdigit Technologies
Tell us about your team. On a rainy night in Nigeria, tragedy struck when Joy Egbe’s pregnant aunt brought her fossil-fuel-powered generator inside her apartment to shield it from the rain. This unintentional decision inadvertently exposed...Read Article
Our Vision
- The purpose of the prize is to find anyone on this planet who has a good idea—who has an entrepreneurial way to solve a problem—and reward them.- Michael MilkenChairman Milken Institute
- The Milken-Motsepe Prize is a powerful tool for solving some of Africa’s problems, particularly when it comes to hunger and poverty.- Dr. Precious Moloi-MotsepeCo-Founder and CEO Motsepe Foundation
- Technology provides a unique opportunity to leapfrog—allowing Africa to join the fastest growing economies of the world.- Dr. Patrice MotsepeFounder and Chairman, Motsepe Foundation
For More Information
Visit the dedicated Milken-Motsepe Prize website for more information about the program.