of the World Economic Forum, announced opening the applications for the Zero Water Waste Challenge – part of the Aquapreneur Innovation Initiative. The challenge calls for innovative water usage approaches to improve freshwater conservation from supply to demand, moving towards zero water waste. At the end of the challenge, 10 winners will receive a total financial award of 1.75M CHF.

This is the second challenge out of five Challenges of the HCL and UpLink’s Aquapreneur Innovation Initiative. Launched last year at Davos in May 2022, to create a first-of-its-kind innovation ecosystem for the global freshwater sector. The last date to apply for the second-year challenge is October 2nd, 2023. Full details and eligibility criteria can be found at this link. Under this initiative HCL committed $15 million until 2027 to support the water-focused entrepreneurs.

Roshni Nadar Malhotra, Chairperson, HCLTech said, 

“As the climate change continue to intensify and fresh-water resources become scarcer, the corporates have a unique opportunity to make a substantial difference in the world we live in. At HCL, we are committed to help resolve this global crisis. In partnership with UpLink, we are all set to announce the second edition of our Aquapreneur Innovation Initiative moving towards zero water waste. While our commitment to this vital cause is unwavering, we invite fellow organizations to join us in this shared mission, contributing essential funding and catalyzing widespread exposure.”

Gim Huay Neo, Managing Director of the Centre for Nature and Climate at the World Economic Forum said, 

“The Aquapreneur Innovation Initiative is building a vibrant innovation ecosystem for water which is crucial for the conservation and restoration of all-natural ecosystems. By connecting innovators, experts, investors and partners, this initiative is fast-tracking high-impact solutions to enhance water security. Already, we’re seeing significant impact with the ten winners of the first Innovation Challenge and we’re excited to surface and support a new cohort of aquapreneurs.”

This year's challenge will center around the following themes:

Preserving Freshwater Supply:

Focus on safeguarding and expanding freshwater resources. Solutions may encompass recharging groundwater, harnessing storm- and rainwater, atmospheric water capture, leak prevention, enhancing ecosystem resilience, and freshwater monitoring and management.

Water Reuse and Material Recycling:

Elevate water efficiency through water reuse and recycling. Solutions could encompass products enabling the repurposing of shower, washing machine, and sink water for non-potable purposes. Additionally, innovations for industrial water reuse and advanced purification technologies fall within this category.

Enhancing Water Efficiency in Agriculture:

Address water consumption in agriculture through intelligent irrigation approaches. Potential solutions include precision irrigation, remote sensing, regenerative agricultural practices emphasizing water retention, and technology applications optimizing water application to crops.

The evaluation and selection criteria for the second year include:

I. Organizational Aspects:

Demonstrating a financially sustainable business model and revenue strategy.

Being beyond the ideation phase and showing potential for scalability and long-term financial viability.

• A skilled and diverse management team committed to executing the project.
• A clear framework for monitoring, evaluating, and verifying the solution's impact.
• A legal entity associated with the project or technology.
• An operating model indicating financial viability and sustainable revenue streams or a clear plan for achieving them.

II. Key Characteristics:

Introducing innovation in service, pricing, partnerships, and business models.

• Offering solutions that are scalable in local contexts and replicable globally.
• Demonstrating holistic and sustainable benefits for both society and the environment.
• Identifying and addressing external risks associated with achieving desired outcomes.

The top 10 water-focused entrepreneurs will be chosen as Top Innovators and invited to join the UpLink Innovation Network. This exclusive program, tailored for executives and leaders, offers access to events, projects, and communities led by the World Economic Forum and its partners. Top Innovators benefit from strategic connections with network organizations, fostering collaborations. The program provides targeted support, encompassing technical, business, and operational guidance. Moreover, a financial incentive is available – up to 10 selected Top Innovators can each receive 175,000 CHF from a total fund of 1.75 million CHF.