- What is the challenge pot?
The prize money is $4 million total. It will be in multiple prizes: Discovery Awards, Finalist Development Grants, and the Prize.
- What was available through the Discovery Awards?
The Discovery Awards, taking place during the entry period, took the form of 10 $50,000 seed grants to support teams to enter the Challenge.
- What is a Finalist Development Grant?
At the end of the entry period, five teams will be selected to become Finalists in the Challenge, and will receive a $500,000 Finalist Development Grant to develop their products.
- What is the Prize?
At the end of the Finalist Stage, one of the five Finalists will be chosen to receive $1,000,000 to help them take their product to market.
- What currency denomination will the challenge pot be distributed in?
- What support is available through the Challenge?
As well as the US$500,000 finalist development grant, finalists will receive all the relevant guidance on their journey, including but not limited to key dates, document templates, assessment process and criteria.
- What support will be offered by Toyota as part of the Challenge?
The Challenge is being run by the Toyota Mobility Foundation, an independent charitable foundation, endowed by Toyota. While they are a separate entity, TMF are able to draw on Toyota networks. On top of the financial support offered, finalists will have to access mentoring opportunities from leading experts, potentially including Toyota engineers. Actual support offered will be tailored to the finalists, depending on their needs.
- What opportunities for collaboration are available through the Challenge?
The Challenge hopes to recruit a diverse range of innovators, and therefore we encourage collaboration. For example, during the entry period, you will create a profile on our website where you can indicate that you want to collaborate with others.