DCM Shriram Foundation, The/Nudge Institute launch Rs 2.6-cr prize challenge to solve agri-water related issues

DCM Shriram Foundation and The/Nudge Institute’s Centre for Social Innovation, with the Office of the Principal Scientific Advisor (GoI) on Tuesday unveiled Rs 2.6-crore prize challenge to bring in new innovation at the intersection of agriculture and efficient use of water.

The challenge seeks to encourage leading AgTech & Social Impact Entrepreneurs to develop population scale solutions & innovations within India’s agri-water ecosystem.

For the upcoming DCM Shriram AgWater Challenge, The/Nudge Prize encompasses a prize purse of Rs 2.6 crore. This includes a prize of Rs 2 crore for the winner. Additionally, a total of Rs 60 lakh will be distributed among three other finalists who cross the milestone thresholds (Rs 30/20/10 lakh respectively).

The challenge is also enabling an AgWater and SHF expert ecosystem, consisting of leading market players, government departments, research Institutions & senior mentors/visionaries across India & beyond.

Aman Pannu, President, DCM Shriram Foundation said: “Any effort aimed at conserving water on a large scale must closely align with the needs of agriculture. Such a program would have to navigate through a complex web of factors, including weather conditions, selection of crops and varieties, yield potential, water requirements of crops, available irrigation resources, water-saving technologies, agronomic practices, agricultural extension services, accessibility of agricultural inputs, electricity availability, and numerous other variables.”

Kanishka Chatterjee, Director, The/Nudge Prize said: “While lucrative solutions addressing agri-water problems have gained momentum in recent years, there has been far less vitality in affordable and accessible models for the small and marginal farmers. Their high dependence on groundwater and increased vulnerability to water stress/climatic changes, land productivity, price and market risks call for audacious problem solving. An inducement challenge like the DCM Shriram AgWater Challenge, pushes AgTech to develop, demonstrate & deploy rapid innovation for this critical problem.”

The challenge will identify a cohort of 15-20 solutions from a vast pool of applicants, who are working on improving the agricultural water utilisation of smallholder farmers through technological interventions – specifically for water intensive crops like rice, wheat, sugarcane & cotton, for the first time.