Wege Prize, organized by Kendall College of Art and Design&rsquo;s Wege Center for Sustainable Design with support from the Wege Foundation, is an annual competition that ignites game-changing solutions for the future by inspiring college/university students around the world to collaborate across institutional, disciplinary, and cultural boundaries to redesign the way economies work.&nbsp;Wege Prize teams must leverage their transdisciplinary makeup to collaboratively design and propose a solution to a wicked problem of their choosing that can, in turn, help solve the wicked problem of transitioning from a linear economic model to a circular economic model. Possible solutions include, but are not limited to:<ul><li>Products&nbsp;</li><li>Services&nbsp;</li><li>Businesses or non-profit organizations</li></ul><h2>Prize</h2>Winning teams will split the following awards evenly between their five members:<ol><li>First Place: $15,000 (USD)</li><li>Second Place:&nbsp;$10,000 (USD)</li><li>Third Place: $5,000 (USD)</li></ol><h2>Eligibility</h2><h4>Individual Participation Requirements</h4>To be eligible to participate on a Wege Prize 2019 team, you must:<ul data-rte-list="default"><li>Attend a college, university, or equivalent institution of higher education anywhere in the world</li><li>Be a student enrolled in a full-time (or equivalent) undergraduate or graduate program for the duration of the competition*</li></ul>*Both undergraduate and graduate level students are eligible to compete. Teams can be composed of both undergraduate and graduate students if they so choose.&nbsp;<h4> Team Participation Requirements</h4>To be eligible to participate in Wege Prize 2019, teams must:<ul data-rte-list="default"><li>Have exactly five members</li><li>Represent at least&nbsp;three (3) different academic disciplines*</li><li>Represent at least&nbsp;two&nbsp;(2) different institutions of higher education, such as colleges, universities, or separate colleges/schools within a larger university. (For instance, a team member from Example University&#39;s School of Engineering and a team member from Example University&#39;s School of Earth Sciences would be considered as representing two different institutions.)*</li></ul>*These are the minimum&nbsp;requirements. Teams with the greatest disciplinary and institutional diversity will likely have a higher probability of success.<h2>Judging</h2>Wege Prize judges are looking for solutions that address the shortcomings of a linear economic model on a systemic level. The most successful solutions will:&nbsp;<ol><li>Think in systems by demonstrating an understanding of how parts influence one another within a whole, as well as the relationship of the whole to the parts.&nbsp;</li><li>Consider the economics and viability of the solution within natural, social, and financial systems.</li><li>Preserve and enhance natural capital by controlling finite resource stocks and balancing renewable resource flows.</li><li>Optimize resource yields by circulating products, components, and materials at their highest utility at all times in both technical and biological cycles.&nbsp;</li><li>Foster system effectiveness by designing out waste and negative externalities such as pollution, toxicity, and climate change.</li></ol>

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Wege Prize 2019 About Economic Solutions & Projects for Undergraduate and Graduate Students with 30,000 USD Total Cash Prizes