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News & opinion

6 FEB 2020

Global competition to positively disrupt infrastructure

To accelerate innovation in the global infrastructure industry, at RICS, we’re throwing our weight behind an initiative that is meant to give a creative boost to an industry that could use a little push.

The InfraChallenge is an innovation competition initiated by the Global Infrastructure Hub (GI Hub). It seeks the next digital solution to help solve one of the many big infrastructure issues globally. For those of us at RICS, here are the top 5 compelling reasons to enter the challenge.

1. We need fresh ideas

Traditionally, the infrastructure industry has been slow to capitalize on digital innovations.

With global megatrends like urbanization and population growth, climate change and digitization, the time is ripe for infrastructure issues to be disrupted by digital ideas.

Consider these numbers:

InfraChallenge is about unlocking digital ideas, solving big infrastructure issues, and bringing disruption to the industry to better prepare us for the future and meet the ever-growing needs of the world.

Watch the InfraChallenge video

2. A nice reward

For your role in solving some of the biggest challenges of our time, the InfraChallenge winner will receive:

  • $AUD 50,000 funding package to implement the digital solution
  • Needs assessment by MIT Solve to further develop the solution
  • Participation in one of MIT Solve’s flagship challenge events
  • Exposure to the G20’s Infrastructure Working Group and Multilateral Development Banks
  • Ongoing support from the GI Hub and MIT Solve
  • Exclusive access to infrastructure resources and networks
  • Global media coverage as the InfraChallenge winner.

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The InfraChallenge competition is a great opportunity for new digital solutions for global infrastructure issues to emerge

3. Opportunities to grow

All first-round finalists will have access to leaders in the industry via an eight-week tailored mentoring program delivered by GI Hub’s global partners to develop your solution.

The ten finalists will receive an additional six weeks of mentoring, including support from MIT Solve and gain exposure on a global stage competing in a live event where they will showcase their entry to an audience of tech, infrastructure, government and other private sectors.

All final round finalists will gain exposure on a live event in Europe where they will showcase their entry to an audience of public and private infrastructure specialists.

4. Be part of the solution

It's clear that digital ideas that can be applied to solve economic or social infrastructure issues are undoubtedly going to change lives for the better.

One of the experts at MIT Solve, GI Hub’s InfraChallenge partner, wrote recently: “We expect that by 2050 nearly 70% of people will live in cities, impacting our food supply, transportation and sanitation systems, how and where we work, learn, and can cities absorb this influx of people without developing new and more efficient ways of building, transporting, and consuming resources? Without significant disruption across urban infrastructure, the cities of the future will struggle to keep up, much less make progress toward things like mitigating climate change or providing quality education to every student.”

5. Expand your horizons

InfraChallenge is an opportunity to develop yourself professionally and personally, grow your networks, build your teamwork capabilities and create a tangible result with lasting impact.

So, what are you waiting for? Entries close on 24 February 2020.

Apply now