(L-R): Igor Rybakov, Logan Elizabeth Cohen, Nat Ware, Ekaterina Rybakov
Education startups Kudzoo and Forte will go head-to-head with 24 other semifinalists at the Rybakov Prize after winning a pitch competition at the Forbes Under 30 Europe Summit.
Igor Rybakov announced Kudzoo and Forte as joint winners from a field of five founders vying for a spot in the finals of the first annual Rybakov Prize and its $1 million prize fund for entrepreneurs with innovative solutions that can transform education.
Kudzoo founder and former Under 30 listee Logan Elizabeth Cohen pitched her app that rewards students for good grades and school attendance with “Kudzoo Cash.” Forte founder Nat Ware presented his plan for investors to earn a share of students’ future earnings in return for investing in their education and training.
“The recognition of these social entrepreneurs, especially in education, is the real answer to the complexities of the world,” said Rybakov, speaking at the Forbes summit in Berlin.
Igor and Ekaterina Rybakov launched the Rybakov Foundation in 2015.
Cohen and Ware will be flown out to Moscow in February for the final round of the award. “I’m so excited for this opportunity to help so many more students,” said Cohen.
Igor Rybakov and Ekaterina Rybakov launched their philanthropic foundation in 2015. Forbes estimates Rybakov’s stake in the Technonicol, a Russian roofing business he founded, and his other business ventures are worth at least $1.4 billion.
Rybakov pitch competition semifinalists battled it out for their chance to win the $1.2 million ... [+]
The focus of the foundation was education and creating entrepreneurial role models for Russian schoolchildren, according to the Russian billionaire. “We decided to give a legacy for everyone in the world . . . that’s why we tried to find what is the best idea in the world, and find what we can add to the world for its prosperity. And education really was the best solution. That’s why we decided to stay philanthropists in education,” said Rybakov.
The Rybakovs added that they were inspired by the Under 30 community and the “purpose-driven” nature of the summit, with young entrepreneurs working on innovative solutions for business and social issues.
