JPMC's $500M AdvancingCities Initiative seeks to drive inclusive growth in communities around the world
Competition closes November 30, 20
The AdvancingCities Challenge will make investments of up to $3 million in cities to support creative, collaborative and sustainable solutions that address cross-cutting challenges to help more people benefit from a growing economy.
Many of the world’s cities are experiencing population growth and regeneration, however, the benefits of global prosperity are not reaching everyone. Inequality is on the rise, threatening to stymie economic growth and fostering political unrest. These issues are undoubtedly complex and reversing these trends will require collaborative leadership from the private, public, and nonprofit sectors.
To this end, JPMorgan Chase & Co. (JPMC) is launching AdvancingCities, a $500 million, five-year initiative to advance lasting solutions that will lead to more people connected to jobs with a career pathway and living with financial security, more small business owners growing and hiring, and economically vibrant neighborhoods.
Every city has a set of systems that connect people to economic opportunity, but not everyone has the same access to those systems, not all of those systems are integrated and working together, and other systems are struggling to keep up with rapid changes in our economy. Over the last five years, JPMC has made substantial investments in four systems that drive opportunity at the local and regional level— workforce training, small business ecosystems, financial health, and neighborhood development. We have focused on strengthening these systems for maximum impact by 1) targeting solutions to promote equity for underserved communities, businesses, and individuals; 2) identifying innovation and replicating the most promising solutions; and 3) strengthening nonprofit organizations so they are able to rise to the challenges facing their communities.
AdvancingCities will build upon this work by channeling our most valuable resources—data, talent and expertise of our employees, global platform—in key cities with demonstrated ability to collaborate across sectors, address tough issues head on, and implement complex solutions.
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