MIT Names Rahat

21st September 2023, Kathmandu

MIT Names Rahat Beema as a member of its 2023 Solver team, unveiling a group of 31 tech-based innovators who are addressing global challenges and collectively receiving over $1.5 million in prize funding.

Rahat Beema was selected from a competitive pool of over 1,500 applicants spanning 120 countries and more than 100 unique Indigenous communities.

MIT Names Rahat Beema

During a gathering in New York City coinciding with UN General Assembly Week, these innovative solutions were introduced to tackle the 2023 Global Challenges.

Each solution is receiving a minimum of $10,000 in unrestricted funding and embarking on a nine-month support program to amplify their work and impact.

In this year’s Solver Class, notable statistics emerge, with 68% of teams being led by women. The representation is truly global, with innovators hailing from 14 countries and encompassing seven American and Canadian Indigenous nations. Remarkably, 55% of these solutions are driven by for-profit organizations.

Rahat Beema’s CEO and co-founder, Rumee Singh, expressed their honor of being part of the Solver team, specifically in the financial inclusion challenge. As one of pioneering Solvers from Nepal, they eagerly anticipate joining this global network of innovators, funders, and supporters, all united in the mission to create more financially resilient communities.

The Solve Challenge Finals awarded over $1 million in prize funding to the 2023 Solver teams, including select teams from previous classes. Rahat Beema proudly accepted the prestigious GSR Foundation Prize and the Community Award.

About Rahat Beema: A Beacon of Humanitarian Assistance

Rahat is an open-source blockchain-based humanitarian assistance tool that’s now expanded into Rahat Beema, focusing on financial inclusion for low-income households, particularly smallholder farmers, in their quest for resilience against climate-related shocks? The platform’s mission is to offer vital support during times of adversity, establishing a more inclusive, rapid, and transparent insurance and financial access system for communities in need.

To explore further details about the winning teams and their innovative solutions to address the 2023 Global Challenges across economic prosperity, learning for civic action, climate resilience (ecosystems and housing), health in fragile contexts, and Indigenous communities visit the official MIT Solve website.


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