Call for Solutions – Ocean Innovation Challenge: Financing Innovation for SDG 14

By January 13, 2020 Events

What it is

The Ocean Innovation Challenge (OIC) is a unique new mechanism that has been designed to accelerate progress on SDG14 by the identifying, financing, advising and mentoring of truly innovative, entrepreneurial and creative approaches to ocean and coastal restoration and protection that sustains livelihoods and advances the ’blue economy’. The OIC seeks innovations that are transferable, replicable and scalable in order to achieve maximum catalytic impact. The first call for applications opens on 8 January 2020.

What it does

The Ocean Innovation Challenge is issuing a series of ‘Ocean Challenges’ or Requests for Proposals, each focused on a specific SDG14 target. Initial concepts may be submitted by public or private entities, including governments, private companies (including start-ups), NGO/CSO, United Nations entities, academic institutions, and intergovernmental organizations. The first ‘Challenge’ opens here on 8 January 2020.

Concepts passing initial review and meeting OIC criteria will be invited to submit full proposals for further internal and external (“peer”) review and consideration. Grants range from 50,000 USD to 250,000 USD and project time frames can range from one to two years. Project proposals must be implemented in and benefit stakeholders in developing countries but may be submitted by applicants in either developing or developed countries. All proposals should include a special focus on ensuring gender equity, livelihoods of the poor and poverty eradication.

Why it matters

The ocean faces unprecedented threats to the ecosystem goods and services it provide to humanity, from climate regulation to food security to energy resources. Despite some progress, many ocean challenges, from nutrient pollution to illegal, unregulated and unreported IUU fishing to ocean acidification, continue worsen.

SDG 14, which aims to conserve and sustainably use the oceans, seas and marine resources for sustainable development, sets forth a very ambitious agenda for oceans restoration and protection. For most sectors that use and impact on the ocean, from fisheries to aquaculture to industrial agriculture, the `business as usual` scenario will not deliver the kinds of transformational change needed to move towards truly sustainable ocean use.

A combination of technical innovation and cutting-edge policy, financial and economic incentives are needed to transform ocean-related sectors, both sea-based and land-based. At present, while there are a handful of relevant initiatives, these are limited in their sectoral scope. Solutions are required that cut across the unique innovation needs of each SDG14 target, whether it be reduction of plastics pollution, eliminating overfishing, or enhancing access for small scale fishers. The OIC seeks to identify and provide support to scale-up these solutions.

For application details click here.

For more opportunities visit Financing Mechanisms on South-South Galaxy.