The World Bank has launched a youth innovation challenge/accelerator program for youths focused on water solutions for a changing climate.
These youths, otherwise known as Aquapreneurs are therefore encouraged to participate in this program, to expedite innovation and tap into the potential of the upcoming generation of youth in the field.
The Challenge was launched at CoP28 on December 8th, 2024, and will run through October 2024.
Partners
Nairametrics learns that the program 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 are 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
Benefits
Those joining the World Bank Youth Innovation Challenge will have the opportunity to:
- Develop crucial entrepreneurial skills covering aspects like business plan development, prototyping, customer segmentation, sales, financing, marketing, fundraising, and sustainability. This is supported by corporate partners such as Microsoft and Xylem, as well as learning partners like YBI, YMCA, and other water tech companies.
- Receive an invitation to join the Microsoft Founders Hub, offering free access to technology tools, resources, and coaching for solution development.
- Enhance business plans and pitch scalable solutions to water tech CEOs, venture capitalists, and other impact investors.
- Gain market feedback from water and sanitation utilities, irrigation operators, and other global end users.
- Network within a global community comprising successful entrepreneurs, water experts, investors, and fellow innovators.
- Access a 6-month Accelerator Program featuring one-on-one mentoring by accomplished Water tech CEOs (exclusive to winners).
Eligibility criteria
The World Bank and partners are therefore inviting all interested and eligible youth Aquapreneurs (age 18-35) to apply by February 23, 2024.
These youths must have innovative solutions tackling one or more of four global water challenges:
To be eligible to participate, you must be:
- Applicants must be between 18-34 years old at the time of registration (as of December 8, 2023)
- Citizens of low- and middle-income countries as defined by the World Bank.
- Students, entrepreneurs, technologists, and other engaged citizens.
- Individuals who can form teams with 1-5 members, all of whom must fit the age criteria. Teams from existing ventures should select 1-5 members for full participation in the initiative.
- Teams should either be working on a minimum viable product or already have one, intending to serve or currently serving customers in at least one low- or middle-income country as specified by the provided list.
Teams must address challenges in one or more of the following tracks:
- Too much water:Addressing issues like flooding, sea level rise, coastal erosion, and ocean acidification.
- Too little water:Tackling challenges related to water scarcity, lack of access to water and sanitation services, drought, and associated food and agriculture issues.
- Contaminated Water:Dealing with problems such as contaminated drinking water with microplastics, chemicals, or other toxins, along with the public health challenges they pose.
- Mismanaged Water:Addressing issues like poor service delivery, mismanaged water equipment and infrastructure, or operational inefficiencies in water and sanitation utilities.
Program details
- Each team is allowed only one entry; multiple entries from the same team will not be considered.
- The 1-5 young innovators in the team should be ready to participate in virtual boot camps, workshops, mentoring, and networking sessions led by industry experts.
- Participants must have access to a stable internet connection for these online sessions.
- All sessions will be conducted in English, so participants must be able to engage in and present their ideas in English.
Who is NOT Eligible to Participate?
- 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
- 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.
Timeline
Aquapreneurs are to register and upload submissions by Feb 23rd, 2024.
March 8- April 19, 2024
- Pitch preparation and selection
- Refine pitch and business case
- (CEO pitches for 40 finalists teams)
May 1st to October 25th
- CEO mentoring for 20 winning teams in 6-month accelerator investor pitches at Demo day
Application
Click here to register for the Challenge.
