Oceans of Opportunity: XPRIZE Offers $2M

By Paul Bunje, Senior Director of the Wendy Schmidt Ocean Health XPRIZE
Tuesday, January 07, 2014

The oceans provide a wealth of opportunities that are currently unrealized. From trade and resources to new information services, the number of industries that could capitalize on our oceans is still far too small.

But our oceans also face tremendous challenges. Pollution, over-exploitation and climate change are just a few of the problems conspiring to decimate both ecosystems and industries that rely on our seas.

To tackle the grand challenges facing our oceans, we need to unite the opportunities that exist with the solutions that are needed. This means incentivizing the growth of industries that can utilize our oceans – sustainably. Without the dual approach of long-term sustainability and market-based profit, our ability to both heal our oceans and exponentially grow the profit potential remains stunted.

This is why XPRIZE has launched the Wendy Schmidt Ocean Health XPRIZE. This $2 million dollar competition challenges global innovators to develop accurate and affordable ocean pH sensors to measure ocean acidification. Through the galvanizing force of this XPRIZE, teams will not only develop breakthrough technical solutions to measure ocean chemistry – a critical step in addressing the environmental challenge of ocean acidification–but will provide a solid foundation for new enterprise that will catalyze the growth of new industries.

And from ocean services–an industry based on the data to come from new sensors–to marine technology, there are potentially billions of dollars of opportunity on the table for new enterprises. And a multitude of ocean health solutions are waiting to be discovered.

Join us on this journey. Form a team and compete for the Wendy Schmidt Ocean Health XPRIZE.

Help guide us on future prizes that will create radical ocean breakthroughs for the benefit of humanity. Visit http://oceanhealth.xprize.org/for more information.
 

Maritime Reporter August 2014 Digital Edition
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