GoHub, the open innovation and corporate venturing hub of The global, launches The Global Water Challenge, a global initiative with up to three million euros of investment per startup to capture the best innovative solutions that will allow the creation of the largest global hub of water technologies.
As a first milestone, GoHub joins forces in Barcelona with IBM and adds the support of Barcelona Tech Y Action -Agency for the Competitiveness of the Company of the Generalitat de Catalunya-, a combination of four leading strategic partners that combine the entrepreneurial spirit with the vision to create an ecosystem of innovation and technology.
The Global Water Challenge Its mission is to find startups with technologies capable of creating and scaling solutions that problems are anticipated and solved of the scarcest and most vital resource: water.
The challenge had its prologue in New York with the launch of The Ultimate Water Challenge at the beginning of the month and will gradually add spaces and ecosystems from around the world to its roadmap.
In a climate emergency scenario and the search for environmental sustainability, The Global Water Challenge starts from the premise that the use of innovation is essential to address the biggest global challenges, such as water scarcity and quality.
Technologies such as artificial intelligence, 5G, the Internet of Things, augmented and virtual reality, cybersecurity, digital twins or robotics contribute to a more efficient use of water resources.
For this reason, the challenge appeals to startups with disruptive deep tech solutions that they solve big problems in areas like agriculture and food production; offer Smart Water solutions with data science for more efficient management; take care of the oceans by eliminating microplastics and spills; efficient and predict infrastructural anomalies; promote renewable energy installations; prevent natural disasters and phenomena such as desertification and fight against drought and the decline of reserves.
The initiative is aimed at the entrepreneurial ecosystem regardless of its geographical location. The call is open until September 30 for startups with proposals applicable to smart water management, industry 4.0 and smart cities with a sustainable approach.
Among the requirements demanded of startups are, among others, that they be focused on B2B and have invoicing; have a team with leadership and solid technological experience; have a product market fit in their country of origin, a validated business model and a consolidated technology in at least one vertical; have previously worked with a large corporation and are in the process of raising capital during 2021 or 2022.
The startups will be selected by a expert committee made up of members of GoHub, IBM, Tech Barcelona and Acció.
Each selected company will receive a investment of up to three million euros via GoHub Ventures. In addition, you will have the opportunity to develop a paid use case in Global Omnium, one of the five most important water companies in the world, and will become part of a portfolio of solutions that will strengthen your commercial action thanks to the relationship with different companies. .
It will also have access to the network of experts and mentors from GoHub and IBM. IBM will also provide support for the use of the technology; business support sessions at the IBM Garage in Madrid and 120,000 euros in free annual credits for the development of solutions.
For its part, enter the challenge entitles Tech Barcelona Membership for two years -first year free and second with fast track fee-, which includes access to activities, connections and content, as well as tickets for 4YFN and other events.
About, Patricia Pastor, CEO of GoHub, stressed that they are creating “the largest global hub for water technologies and for this we seek the best startups with innovative solutions capable of predicting and alleviating the problems of tomorrow.”
For its part, Monica Cernuda, IBM Public Cloud Market Leader for SPGI, has pointed out that cloud technology is “an enabler for companies large and small to develop their ideas without worrying about the technology that makes them possible.” “That is our motivation to participate in this challenge,” he added.
Miquel Martí, CEO Tech Barcelona, has highlighted that water management will be “one of the key factors that will define the territories in the future.” «Barcelona as a Mediterranean enclave and technological ecosystem has all the elements to become a world reference center. The investment applied in this sector is a priority and strategic ”, he specified.
By last, Jordi Aguasca, Director of Technological Transformation and Disruption of Action, has argued that collaboration between corporations and startups “has been shown to generate a great economic impact and highly disruptive innovations.” “For this reason, from Acció we have been working on it for 4 years, in which we have fostered more than 300 meetings between both agents of the ecosystem,” he concluded.