The challenge call for participation is now open till 28 April 2023 SINGAPORE, April 12, 2023 /PRNewswire/ -- Microsoft, together with Singapore's Infocomm Media Development Authority (IMDA) and SGTech, have announced the launch of the Singapore GreenTech Challenge 2023. This nationwide challenge aims to accelerate the development and use of innovative sustainability solutions in Singapore, as the nation makes progress on its green plan and works towards getting to net zero by 2050. The Singapore GreenTech Challenge 2023 aims to accelerate the creation of sustainability focused solutions in three key areas, in line with United Nations Sustainability Development Goals (UN SDG): Setting and tracking sustainability targets Solutions that can integrate and standardise several types of sustainability data (e.g., environmental, social and governance data), allowing businesses to set and track progress against sustainability targets. Identifying and transitioning to renewable energy sources Solutions that will help businesses identify renewable energy sources (e.g., solar, wind, hydro or low-carbon hydrogen) for potential use as they reduce carbon emissions. Create, buy, and sell tradeable carbon assets Solutions which allow businesses to create tradeable carbon assets through digitally enabled sequestration measurement and interact with the carbon market. All early to mid-stage eco-tech start-ups and corporate venture teams with a software-based solution that addresses environmental or social challenges are welcome to apply for one of three challenges. Interested participants can apply to participate at the link provided here: https://www.openinnovation.sg/challenges. Winners will stand a chance to win up to USD$350,000 in benefits per challenge and will be able to tap into the Microsoft and IMDA partner networks and expertise as they grow and scale their sustainability solutions powered by the Microsoft Cloud. Winners will be onboarded to the Microsoft Independent Software Vendor (ISV) Success Program and be recognised as a Microsoft ISV partner. This year's Singapore Greentech Challenge is powered by IMDA's Open Innovation Platform(OIP). Through a workshop conducted with IMDA's network of experienced industry consultants, Microsoft was able to diagnose business challenges faced by industries, define their challenge statements and now, crowd-source innovative solutions from IMDA's network of more than 12,000 tech solvers; from start-ups, technology providers and research institutes. "Singapore's long-term economic growth is dependent on innovation, and it is a journey that no company can make on its own. By deepening public-private partnerships across our ecosystem, Microsoft can power businesses from start-ups to the enterprise, as they create new digital innovation for sustainability across the Microsoft Cloud," said Ms. Lee Hui Li, Singapore Managing Director, Microsoft. "We look forward to identifying new sustainable solutions and putting them into action at scale, as we build a resilient, sustainable and digitally inclusive Singapore." "Powered by IMDA's Open Innovation Platform (OIP), the Singapore GreenTech Challenge highlights the importance of, and our commitment towards digital sustainability. Technology plays a pivotal role in Singapore's Green Plan and this challenge will help us identify innovative green tech solutions through strategic partnerships of enterprises and start-ups. As we move towards a globally sustainable future, we believe that Singapore can play a key role as the innovative hub for digital sustainability solutions," said Mr. Justin Ang, Assistant Chief Executive of Singapore's Infocomm Media Development (IMDA). "As we inch closer to the Singapore Green Plan 2030 deadlines, we see growing interest and demand for sustainability-related guidance from all sectors of society. SGTech firmly believes in digital and tech solutions being the pathway forward in Singapore's sustainability journey. We are pleased to collaborate with Microsoft and IMDA to support the Singapore GreenTech Challenge and look forward to learning and working with the winning innovative solutions from this challenge," said Ms. Yean Cheong, Executive Director, SGTech. Through the Singapore GreenTech Challenge, Microsoft aims to encourage collaboration and co-innovation between emerging eco-tech solution providers and corporates who share a common goal of driving innovation for sustainability in Singapore. The challenge is designed to create practical, scalable, and implementable business solutions that can address the most pressing sustainability issues today. Sustainability is a collective responsibility, and Microsoft is committed to partnering with others to drive positive change for the planet while pursuing its goals to be carbon negative, water positive and zero waste by 2030. By working together with IMDA and SGTech, Microsoft aims to enable the reduction of environmental impact by companies, create new value, and build a resilient, digitally inclusive, and sustainable Singapore. About Microsoft Microsoft (Nasdaq "MSFT" @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more. About IMDA The Infocomm Media Development Authority (IMDA) leads Singapore's digital transformation by developing a vibrant digital economy and an inclusive digital society. As Architects of Singapore's Digital Future, we foster growth in Infocomm Technology and Media sectors in concert with progressive regulations, harnessing frontier technologies, and developing local talent and digital infrastructure ecosystems to establish Singapore as a digital metropolis. About SGTech SGTech is the leading trade association for Singapore's tech industry. Representing over 1,000 member companies ranging from top multinational corporations, large local enterprises, vibrant small and medium-sized enterprises, and innovative startups, it is the largest community in Singapore where companies converge to advocate for change and drive what enables tech innovation and accelerate tech adoption to spur greater sustainability in the sector. SGTech's mission is to catalyse a thriving ecosystem that powers Singapore as a global tech powerhouse.