Calling on Aquapreneurs to Join the World Bank Youth Innovation Challenge For Aquapreneurs 2024: Water Solutions for a New Climate Reality.
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 youth aquapreneurs from around the world.
Benefits of the World Bank Youth Innovation Challenge 2024.
Participants entering the World Bank Youth Innovation Challenge will:
- Build critical entrepreneurial skills in business plan development, prototyping, customer segmentation, sales, financing, marketing, fundraising, and sustainability with support from our Corporate partners like Microsoft, Xylem and other learning partners like YBI, YMCA and other water tech companies.
- Be invited to join the Microsoft Founders Hub offering the opportunity to gain free access to technology tools, resources and coaching to build solutions.
- Improve business plan and pitch scalable solutions to water tech CEOs, VCs, and other impact investors
- Receive market feedback from water and sanitation utilities, irrigation operators, and other end users worldwide.
- Network with a global community of successful entrepreneurs, water experts, investors and other innovators
- Access a 6-month Accelerator Program that provides one-on-one mentoring by successful Water tech CEOs (winners only)
Who can apply for the World Bank Youth Innovation Challenge?
The World Bank and partners invite all interested and eligible youth aquapreneurs (age 18-35) to apply by February 23, 2024, with innovative solutions tackling one or more of four global water challenges:
The Challenge launched at CoP28 on December 8th, 2024, and will run through October 2024. It is a joint initiative of the World Bank’s Solutions for Youth Employment (S4YE) and Water Global Practice’s Utility of the Future Program which is joined by innovative partners including:
- CEO Champions from Water-Tech Companies: 3R Water, Acquacycl, Pani Energy, CANN Forecast, Desolenator, Kai Pono Solutions, Kilimo, Nitrogen Sensing Solutions, Oneka, Permalution, Xylem
- Outreach and Learning Partners: Mazarine Ventures, Microsoft Philanthropies, Ripple2Wave, Sustainable Oceans Alliance, Youth Business International, World YMCA
Timeline and Phases
Requirements for the World Bank Youth Innovation Challenge 2024.
- Between 18-34 years of age at the time of registration (i.e., as of December 8, 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 engaged citizens.
- Individuals may form teams and submit entries on behalf of the team. Each team can list between 1-5 members who will be available to participate in the events associated with the challenge. If the team is from an existing venture with more members, please select 1-5 to participate fully in this initiative. All team members need to fit the age criteria.
- The team should either be working toward a minimum viable product or have a minimum viable product which is intended to serve or serve 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 tracks and challenges:
- Too much water: The challenge of too much water includes issues such as flooding, sea level rise, coastal erosion, and ocean acidification.
- Too little water: The challenge of too little water refers to water scarcity, lack of access to water and sanitation services, drought and associated food and agriculture challenges.
- Contaminated Water: The challenge of too polluted water entails issues such as contaminated drinking water with microplastics, forever chemicals or other toxins, and the public health challenges these pose.
- Mismanaged Water: The challenge of mismanaged water includes poor service delivery, mismanaged water equipment and infrastructure, or operational inefficiencies in water and sanitation utilities.
- Each team may enter only once. Teams that enter more than once will not be considered.
- The 1-5 young innovators listed in the team should be willing and able to participate in virtual boot camps, workshops, mentoring and networking sessions, led by industry experts. These sessions will be held online thus, participants must have access to a stable internet connection.
- All sessions will be held in English thus, participants must be able to participate in and pitch their ideas in English.
Not eligible to apply for the World Bank Youth Innovation Challenge:
- The following are not eligible to join the Challenge: staff, contractors and vendors of the World Bank Group (The World Bank Group consists of the International Bank for Reconstruction and Development, the International Development Association, the Multilateral Investment Guarantee Agency, the International Finance Corporation, the International Center for the Settlement of Investment Disputes.), the members of the Evaluation and Finalist Judging Panel; or any company or individual involved with the design, production, execution or distribution of the Challenge and their immediate family members (spouse, parents and step-parents, siblings and step-siblings, children and step-children, aunt, uncle, niece and nephew).
- Ineligible participants to receive Bank funds under the Bank’s Anti-Corruption Guidelines, procurement rules, and other rules such as on anti-money laundering and anti-terrorism are ineligible to receive cash or any prize under this Challenge.
Interview date, Process and Venue for World Bank Youth Innovation Challenge
Applicants willing to apply for the World Bank Youth Innovation Challenge will be adjudicated by a panel of water specialists, based on the following criteria:
- Relevance to water challenges outlined in the four tracks: 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 a completely new improved or adjusted way in which a process, product, or service solves a complex problem or challenge. Innovation unlocks opportunities, increases benefits, minimizes challenges and creates value in the community and society in which the team is operating.
- Feasibility: The solution has the potential for long-term social, environmental, and financial sustainability. Is the team clear on its ability to deliver intended results given available resources and experience?
- Impact: The ability of the solution to create a meaningful and tangible impact on individuals, communities, and systems. Evidence that demonstrates the ability to measure and achieve results, in addition to a roadmap that outlines a pathway to creating impact at a meaningful scale. Is the impact in the short or long term?
- Measurement of progress: What are the key metrics of success? Has programmatic progress impact been monitored or measured by a third party or internally?
February 23, 2024
How to Apply for World Bank Youth Innovation Challenge For Aquapreneurs 2024.
Interested and qualified to apply for the World Bank Youth Innovation Challenge? Go to World Bank on www.eventbrite.com to apply
For more details, visit the WBG career website