HCL Group and UpLink Open Applications for its Third Global Aquapreneur Innovation Challenge
Important Dates to Note | |
21 May to 31st August 2024 | Open for submissions |
1st September to 1st November 2024 | Review and selection process |
January 2025 | Announcement of the Top Innovators |
The Innovation Challenge aims to empower changemakers who are pioneering groundbreaking technologies, strategies, and approaches to conserve, manage, and protect water resources. HCL has pledged US$15 million over five years till 2027 to bolster entrepreneurs focusing on water-related endeavors. The challenge will focus on the intersection of the quality and environmental impacts of water, with the key aspects including:
- Preventing contamination of water at source- Source control aims to prevent or minimize the introduction of pollutants and contaminants at their source. Solutions may be aimed at contaminants from industry, agriculture, stormwater etc., and could include real-time monitoring and sensor networks, advanced filtration, and nature-based solutions
- Monitoring and treating onsite industrial wastewater- Water is a core component in many industrial processes from manufacturing, cleaning and sanitation, mining, and cooling. Technological solutions offer a way to monitor water quality and reduce water contamination, minimize environmental impacts and move towards zero liquid discharge for industries.
- Optimising urban infrastructure public water and wastewater treatment systems- Water and wastewater treatment infrastructure upgrades are expensive and the costs are climbing. This area will target a broad range of technological solutions that can unlock value by improving efficiency, reducing costs, and ensuring compliance.
- Offering water quality solutions for households- The convergence of environmental awareness, cost considerations, regulatory pressures, and health concerns is driving the increasing popularity of personal water quality solutions among individuals and households. Technological solutions may include portable water testing, point-of-use water purification, and apps for crowd-sourcing water quality data.
John Dutton, Head of UpLink, World Economic Forum, added, “At UpLink, we believe innovation and collaboration are key to overcoming the complex water challenges facing our planet. UpLink and HCL Group will tap into the world’s brightest entrepreneurial minds working in this sector to help minimize the problem of freshwater loss by connecting them to essential resources, experts, and funding. The Tackling Water Pollution Challenge will ensure that the most scalable solutions are deployed to ensure that this vital resource is sustainably available to all.”
Evaluation and selection criteria for 3rd year includes:
- Business viability
- Demonstrates a financially sustainable business model with a clear revenue approach.
- Presents a funding history and potential for investment.
- Identifies and manages external risks effectively.
- Shows alignment with market demand locally or globally.
- Has a legal entity and operational plan for financial sustainability.
- Commitment to Deliver Impact
- Shows sustainable impact benefiting multiple sectors including society and the environment.
- Aligns with long-term water agenda goals.
- Utilizes a robust framework for impact measurement and verification.
- Transparently tracks metrics and adheres to relevant standards.
- Solution Novelty and Replicability
- Offers unique aspects in product/service, pricing, partnerships, or business model.
- Provides evidence of concept feasibility and replicability across different contexts.