Bloomberg offers $9 million Mayors Challenge (with related video)

New York Mayor, and billionaire, Michael Bloomberg is challenging other mayors to come up with ideas to make their cities better — and he’s backing it up with a boatload of his own money. The Mayors Challenge, an initiative of Bloomberg Philanthropies, is offering 1,300 mayors the chance to compete for $9 million in funding for programs to solve problems and enhance the quality of life in American cities, according to The Associated Press (AP).

The challenge, announced Wednesday, is open to mayors of municipalities with at least 30,000 residents. It offers a grand prize of $5 million and four prizes of $1 million.

The contest rules call for ideas that improve “city life by addressing a major social or economic issue, improving the customer service experience for citizens or businesses, increasing government efficiency, and/or enhancing accountability, transparency, and public engagement,” according to the foundation. The goal is to develop successful ideas that can be replicated in other cities.

“We all have similar problems,” Bloomberg told the AP. “Everybody’s got financial problems. Everybody’s got health problems. Everybody’s got problems in how they bring crime down and improve education. How they communicate with the taxpayer, the citizens. How they provide services and make sure they’re targeted and efficient.”

Bloomberg is estimated by Forbes magazine to be the 20^th richest man in the world with a net worth of $22 billion. The challenge is part of the Bloomberg foundation’s Mayors Project, a $24 million initiative that has already funded teams in Atlanta, Chicago, Louisville, Memphis and New Orleans to work on urban issues.

Contestants in the Mayors Challenge must submit proposals by Sept. 14. Winners will be announced in May. Information about the challenge is available on the foundation’s website, and a video announcing the challenge is below.