GreenTech Challenge 2023: Singapore

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KnowESG_Singapore GreenTech
Image courtesy of https://www.microsoft.com/en-in/

The Singapore GreenTech Challenge 2023 has been launched by Microsoft in partnership with Infocomm Media Development Authority (IMDA) and SGTech.

The objective of this nationwide competition is to expedite the creation and application of inventive sustainable solutions in Singapore as the country endeavours to achieve its green goals and reach net-zero emissions by 2050.

The Singapore GreenTech Challenge 2023 focuses on three key areas aligned with the United Nations Sustainability Development Goals (UN SDG):

Establishing and monitoring sustainability objectives

Solutions that can consolidate and standardise various sustainability data types (such as environmental, social, and governance data) to enable businesses to establish and monitor progress towards sustainability goals.

Transitioning to renewable energy sources

Solutions that help businesses recognise potential renewable energy sources (such as solar, wind, hydro, or low-carbon hydrogen) to be utilised while reducing carbon emissions.

Generating and trading carbon assets

Solutions that enable businesses to produce tradeable carbon assets through digitally facilitated sequestration measurement and participate in the carbon market.

The competition invites all eco-tech start-ups and corporate venture teams, in the early to mid-stage, with software-based solutions that tackle environmental or social problems, to apply for any of the three challenges. Those interested can apply to join the competition through the following link: https://www.openinnovation.sg/challenges.

The victorious participants have the opportunity to win up to USD$350,000 in benefits for each challenge and leverage Microsoft and IMDA's partner networks and expertise as they expand and scale their sustainability solutions with the support of the Microsoft Cloud. They will also be inducted into the Microsoft Independent Software Vendor (ISV) Success Programme and recognised as a Microsoft ISV partner.

IMDA's Open Innovation Platform (OIP) powers this year's Singapore Greentech Challenge. Microsoft identified the business challenges encountered by the industry, defined the challenge statements through a workshop with IMDA's experienced industry consultants, and is now crowd-sourcing innovative solutions from IMDA's network of over 12,000 tech solvers, including start-ups, technology providers, and research institutes.

Ms. Lee Hui Li, Singapore Managing Director at Microsoft, said that Singapore's long-term economic growth depends on innovation and that no company can accomplish it alone. Microsoft can assist businesses of all sizes, from startups to enterprises, in creating new digital innovations for sustainability across the Microsoft Cloud by strengthening public-private partnerships across the ecosystem. Ms. Lee Hui Li looks forward to identifying new sustainable solutions and putting them into action at scale as they build a resilient, sustainable, and digitally inclusive Singapore.

Mr. Justin Ang, Assistant Chief Executive of Singapore’s Infocomm Media Development (IMDA), stated that the Singapore GreenTech Challenge emphasises the importance of and their dedication to digital sustainability, powered by IMDA's Open Innovation Platform (OIP). Technology plays a vital role in Singapore's Green Plan, and this challenge will help identify innovative green tech solutions through strategic partnerships between enterprises and startups. Singapore can serve as an innovative centre for digital sustainability solutions as we move toward a globally sustainable future.

Ms. Yean Cheong, Executive Director of SGTech, believes that as we approach the deadlines for the Singapore Green Plan 2030, there is increasing interest in and demand for sustainability-related advice from all sectors of society. She expressed confidence in digital and tech solutions as the way forward for Singapore's sustainability journey. SGTech is delighted to collaborate with Microsoft and IMDA in supporting the Singapore GreenTech Challenge and looks forward to learning from and working with the winning innovative solutions from this challenge.

Through the Singapore GreenTech Challenge, Microsoft seeks to foster collaboration between eco-tech startups and corporations with a shared vision of sustainability. This challenge aims to develop practical, scalable, and implementable solutions to address pressing sustainability issues.

Microsoft is committed to partnering with others to drive positive change for the planet while working towards its own sustainability goals. By partnering with IMDA and SGTech, Microsoft aims to help companies reduce their environmental impact, create new value, and build a resilient, digitally inclusive, and sustainable Singapore.

To view and compare company ESG Ratings and Sustainability Reports across sectors, follow our Company ESG Profiles page.

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Source: Microsoft

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