UAE President HH Sheikh Mohamed bin Zayed on Friday marked the announcement of a partnership between the Mohamed bin Zayed Water Initiative and XPRIZE, amid an investment of $150 million to launch the XPRIZE Water Scarcity Competition.
The five-year competition – carrying a total prize purse of $119 million – seeks to encourage innovators across the globe to focus on transforming the reliability, sustainability and affordability of water desalination technologies.
Harnessing power of innovation, investment, cooperation
The initiative is aimed at elevating the importance of water scarcity on the international agenda and accelerating the deployment at scale of transformative technological solutions to tackle the deepening threats it poses to people, communities and businesses.
In order to address the challenge, the Mohamed bin Zayed Water Initiative seeks to harness the power of targeted investment, expanded international cooperation and accelerated innovation in the technological landscape, as per the official Emirates News Agency.
Global water scarcity has turned into a rapidly worsening crisis for the global population. Studies indicate that as many as four billion people experience the problem for at least one month in a year, representing the concerning state of the scarcity.
The triggers of increasing water scarcity are varied and involve population growth and demographic change, environmental pollution and climate change, and infrastructure and governance challenges, reported the media agency.
Multilateral actions key to solve global water scarcity
Governments, researchers, entrepreneurs, philanthropists, international organisations, individuals and the private sector all have a significant role to play in overcoming the far-reaching consequences of the global crisis.
Effective action is the key to the worsening scarcity – projected to have a series of devastating consequences, such as loss of life and humanitarian crises, geopolitical instability, mass migration, food insecurity and even armed conflict.
Click here for further information on the Mohamed bin Zayed Water Initiative.
Click here for more details on the XPRIZE Water Scarcity Competition.