CivTech 8 challenge: assess and identify projects and opportunities for investment in Scotland’s marine natural capital
How can technology help us better assess and identify projects and opportunities that will improve and increase investment in Scotland’s marine natural capital? Challenge Sponsor: Marine Scotland.
In common with other coastal nations across the globe, a huge part of Scotland’s Natural Capital, and our opportunities to develop nature based solutions to help meet net-zero goals and support wider biodiversity, is located within the marine environment. However decision makers both in Scotland and further afield, lack the information required to identify the optimum locations for projects to invest in. We will invest in the development of new technologies that will support decision makers in the identification of optimum locations for marine Natural Capital projects as well help estimate and monitor their impacts.
This Challenge is one of the first being launched as part of the Innovate for Nature strategy, and falls under Mission 2 — More Than Carbon.
A live Q&A session will be held with the Challenge Sponsor team on Monday 14th November 2022 at 15:00. Click here to register for the session.
CivTech will also be holding a virtual briefing session to talk to a Challenge Manager about the CivTech Process and how to apply to solve a CivTech Challenge, at 5.30-6.30pm on Thursday 17th November. Click here to register for a place.
Why does this Challenge need to be solved?
The ability to assess (and therefore promote) opportunities for effective marine nature capital improvements to guide policy, and attract private investment, is currently limited due to challenges with:
information on where the best opportunities are for protection, enhancement and restoration, linked in part to the coverage and quality of environmental data
evidencing the links between natural assets and the benefits that they ultimately provide, and embedding this evidence in governance and investment decisions.
We invite solutions that address any or all of these aspects of the challenge.
Anyone can apply, from anywhere. You could be an existing company with a team and a product that is ready to be repurposed to answer the challenge. Or a group of graduates with a great demo. Or a digital team that’s looking for a great idea to get involved with. Or even the reverse — an individual with no digital background but with real insight into the challenge and a cracking idea but can put together a great support team.
Rewards for CivTech challenges
Up to 3 teams are selected for the 2-3 week Exploration Stage of each challenge, and will receive £5000 per team (plus VAT if applicable). Winning teams will be invited onto the 12-15 week Accelerator Stage. Each team completing the Accelerator will receive £30,000 (exc. VAT), with no hidden charges, and no equity or IP stakes being taken.
If you are successful at the Demo Day following this stage, further contracts can be negotiated up to a total value of £210,000 or £610,000 (plus VAT if applicable) per team (depending on whether your Challenge was advertised on Public Contracts Scotland with a value of up to £250,000 or up to £650,000.) Highlands and Islands Enterprise, Scottish Enterprise, the Scottish Investment Bank and other support channels will also get involved to help drive the businesses forward. Click here for full details of the process.