Challenge-Based Entrepreneurship: Fostering Innovation and Sustainable Solutions

Challenge-based entrepreneurship has gained significant attention as a promising approach to tackle complex societal problems, foster innovation, and drive sustainable solutions. This research paper explores the concept of challenge-based entrepreneurship, its key characteristics, and its potential to address societal challenges. It investigates the role of open innovation, collaboration, and interdisciplinary approaches in the context of challenge-based entrepreneurship. The paper also discusses the benefits and challenges associated with this entrepreneurial model. By examining real-world examples and cases study carried out at Tecnológico de Monterrey in Hackathons, Bootcamps, Government programs and Research projects. Finally highlights the importance of challenge-based entrepreneurship in driving transformative change and creating positive societal impact.