Deadline: 23 February 2024
Applications are now open for the World Bank Youth Innovation Challenge 2024 . The World Bank Youth Innovation Challenge: Water Solutions for a New Climate Reality is designed to accelerate innovation and unlock the potential of the next generation of young water entrepreneurs from around the world.
The World Bank and partners invite all interested and eligible young water entrepreneurs to apply with innovative solutions that tackle one or more of the four global water challenges:
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- Plenty of water
- Little water
- Contaminated water
- Poorly managed water
Benefits
Participants in the World Bank's Youth Innovation Challenge will:
- Develop critical entrepreneurial skills in the development of business plans, prototyping, customer segmentation, sales, financing, marketing, fundraising and sustainability with the support of World Bank corporate partners such as Microsoft, Xylem and other learning partners such as YBI, YMCA and other water technology companies.
- Be invited to join the Microsoft Founders Hub, which offers the opportunity to get free access to technological tools, resources and training to create solutions.
- Improve the business plan and present scalable solutions for water technology CEOs, VCs and other impact investors
- Get feedback from the market of water and sanitation utilities, irrigation operators and other end users around the world.
- Network with a global community of successful entrepreneurs, water experts, investors and other innovators.
- Access a 6-month Accelerator Programme which offers one-to-one mentoring from successful water technology CEOs (winners only).
Eligibility
- Between the ages of 18 and 34 at the time of registration (i.e. on 8 December 2023) and citizens of low- and middle-income countries, as defined by the World Bank. The challenge is open to students, entrepreneurs, technologists and other committed citizens.
- Individuals can form teams and submit entries on behalf of the team. Each team can list between 1 and 5 members who will be available to take part in the events associated with the challenge. If the team belongs to an existing enterprise with more members, select from 1 to 5 to participate fully in this initiative. All team members must fulfil the age criteria.
- The team must work towards or have a minimum viable product that is intended to serve or serves customers in at least one low- or middle-income country, as specified in the list of countries above.
- The team must address one or more of the following four paths and challenges:
- Too much water: The challenge of excess water includes issues such as flooding, rising sea levels, coastal erosion and ocean acidification.
- Very little water: The challenge of little water refers to water scarcity, lack of access to water and sanitation services, drought and the associated food and agricultural challenges.
- Contaminated water: The challenge of water that is too polluted involves issues such as drinking water contaminated with microplastics, everlasting chemicals or other toxins, and the public health challenges they pose.
- Poorly managed water: The challenge of poorly managed water includes poor service provision, poorly managed water equipment and infrastructure or operational inefficiencies in water and sanitation services.
- Each team may participate only once. Teams that register more than once will not be considered.
- The 1 to 5 young innovators listed in the team must be willing and able to take part in virtual bootcamps, workshops, mentoring and networking sessions led by industry experts. These sessions will be held online, so participants must have access to a stable internet connection.
- All sessions will be held in English, so participants must be able to participate and present their ideas in English.
Judging Criteria
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Candidates will be judged by a panel of water experts, based on the following criteria:
- Relevance to the water challenges described in the four strands: Is there a proven market need for the product or service with a target customer base able and willing to pay, within the water sector?
- Innovation: Is the proposal innovative? Innovation can be completely new or an improved or adjusted way in which a process, product or service solves a complex problem or challenge. Innovation opens up opportunities, increases benefits, minimises challenges and creates value in the community and society in which the team operates.
- Feasibility: The solution has the potential for long-term social, environmental and financial sustainability. Is the team clear about its ability to deliver the intended results, given the resources and expertise available?
- Impact: The solution's ability to create a significant and tangible impact on individuals, communities and systems. Evidence that demonstrates the ability to measure and achieve results, as well as a roadmap that outlines a path to creating impact on a significant scale. Is the impact short- or long-term?
- Measuring progress: What are the key success metrics? Has the impact of programme progress been monitored or measured by third parties or internally?
Application
