June 24, 2019 — Today, Bloomberg New Economy launched an open call for entrepreneurs, business leaders, academics, and practitioners around the world to share their innovative solutions for a world in transition — a world in which the balance of economic power is continuing to shift from the West to fast-growing economies in Asia, Africa and emerging countries around the globe. With the rise of new markets, new industries, new technologies, and new models of employment and civic participation, businesses and societies face a daunting new set of challenges. Yet around the world, innovative approaches to some of these challenges are already beginning to emerge and are being tested in big ways and small. Bloomberg’s New Economy Solutions initiative is founded on the belief that promising, lasting solutions to our biggest societal problems are already out there; we just have to pay attention to them, grow them, share them, and turn them into the new normal.
Which emerging technologies can and should be leveraged to mitigate climate change, or to increase transparency in supply chains? What innovative processes should be applied to rapid urbanization, or to support workers threatened with job displacement as a result of AI? Bloomberg New Economy is seeking solutions to these and other urgent global problems.
“We launched the Bloomberg New Economy Solutions platform in 2018 to identify and address critical challenges facing the global economy, by fostering collaboration between public and private sector leaders,” said Justin B. Smith, CEO of Bloomberg Media. “In 2019, we are expanding on that idea by finding solutions that are already working, and providing them with the momentum, the support, and the attention that they deserve. The New Economy community includes some of the most influential leaders in the world; they’ll apply their expertise, their perspective, their mentorship, and their business acumen to help scale and implement these solutions, to build an inclusive economy.”
Up to seven solutions will be chosen from the open call, aligned to each of Bloomberg New Economy’s core topic areas — trade, technology, climate, finance and capital markets, inclusion, urbanization and global governance. One representative from each selected solution will be invited to join nearly 500 of the world’s most influential business executives, technology innovators, government officials, experts, and academics from over 60 countries and regions at the Bloomberg New Economy Forum in Beijing on November 20-22.
Following a dedicated workshop on-site at the forum, the selected solutions will receive on-going support from the Bloomberg New Economy Solutions team, to help define and achieve specific goals over the course of the next year. This support can take many forms, from convening global business leaders and experts from across the New Economy community, to work on scaling the solution, sharpening ways of framing the problem to better attract investment, launching pilot programs, or discovering strategic partnerships that allow the solution to scale to new markets and new applications. Each selected solution will again be featured as part of the program at the Bloomberg New Economy Forum in 2020, to report on their progress.
Bloomberg New Economy Solutions was launched at the inaugural Bloomberg New Economy Forum, which was established in 2018 by Michael R. Bloomberg, founder of Bloomberg L.P. and Bloomberg Philanthropies, and Three-Term Mayor of New York City. The Bloomberg New Economy Forum is a unique global convening platform where businesses and governments businesses gather annually to engage in an open exchange of ideas on how to ease the global transition that is underway. At the heart of this discussion is the emerging consensus that the private sector must champion growth that includes inclusive social as well as financial goals.
Solutions are defined by Bloomberg New Economy as any existing product, service, program, policy, or initiative that enables the private sector to deliberately create and sustain societal good within one or more of the editorial pillars. New Economy Solutions was launched in November of 2018, during the inaugural forum in Singapore, and is actively accelerating and expanding the efforts of key collaborators within its community, from Ian Bremmer of Eurasia Group to Mona Mourshed of Generation.
Existing solutions that would benefit from the expertise and attention of the forum’s active delegates should be submitted at Bloomberg.com/solutions.
- WHO SHOULD SUBMIT: We welcome submissions from anyone with an existing solution that enables the private sector to create and sustain societal good. This includes employees throughout corporations, from social impact-oriented teams to CSR to R&D departments; entrepreneurs; academics; think tanks; government agencies; international organizations and NGOs; nonprofits
- WHY TO SUBMIT: Seven solutions will be selected this fall. We will invite a representative from each solution to the Bloomberg New Economy Forum in Beijing on November 20-22, and host a workshop on their behalf. The participants at those workshops will be our delegates, including the world’s most influential business executives, technology innovators, government officials, experts, and academics from over 60 countries.
- HOW SOLUTIONS ARE SELECTED: We will select the solutions on a variety of criteria developed by Bloomberg and McKinsey, our knowledge partners for the Bloomberg New Economy Forum.
For additional details about the Bloomberg New Economy Forum visit neweconomyforum.com. To join the conversation and stay up-to-date on the forum, follow us on Twitter, Facebook, and LinkedIn, WeChat, and Weibo using #NewEconForum.
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