The Sustainable Access Solution Fund will pilot innovative technologies for water-stressed and climate-impacted communities
— Saadia Madsbjerg, President of The Coca-Cola Foundation
SAN FRANCISCO, UNITED STATES, March 7, 2023 /EINPresswire.com/ — The Coca-Cola Foundation and Imagine H2O, a global nonprofit that accelerates and deploys new water innovations, have partnered to scale entrepreneurial solutions for the global water crisis. The Sustainable Access Solution Fund (“Solution Fund”) unlocks targeted grants and technical support to help communities pilot and adopt innovation, doubling Imagine H2O’s annual pilot funding budget this year.
As one third of the world’s inhabitants still lack access to safe drinking water, innovative technologies are emerging that can help boost water supply, mitigate pollution and strengthen climate resilience. However, widespread risk aversion and financial constraints prevent utilities, businesses and other end-users from testing and validating these solutions.
The Solution Fund creates opportunities for innovators and their customers to overcome these barriers, building on Imagine H2O’s ongoing pilot initiatives supported by philanthropic and public sector partners including OceanKind, 11th Hour Racing, Enterprise Singapore, World Bank and Asian Development Bank.
Since 2018, Imagine H2O has awarded $1.9 million for 69 pilots. This support has triggered up to seven times in matching or follow-on funding from other partners. Beyond financial support, the Solution Fund utilizes Imagine H2O’s global startup accelerator programs and in-country networks to mentor entrepreneurs as they design, execute, and monitor the impact of these projects. Awards will be recycled back to the Solution Fund when pilots succeed.
“This partnership marks another milestone in The Coca-Cola Foundation’s commitment to accelerate progress towards the UN SDGs – all 17 of which will be affected by how our water resources are used, treated and managed in the future,” said Saadia Madsbjerg, President of The Coca-Cola Foundation. “By partnering with Imagine H2O, we want to not only showcase what is possible for water innovation, we also want to tackle the underlying obstacles preventing the faster uptake and scaling of these promising solutions.”
The Solution Fund will source solutions that not only directly enable access to safe drinking water, but also help communities restore or sustain water resources threatened by climate change or environmental degradation. From biosensors for rapid contamination detection to rural water supply monitoring systems, a diverse range of technologies will be vetted from across Imagine H2O’s network of 175 startups.
“From Johannesburg to Jakarta, the appetite to leapfrog conventional water management approaches is growing,” said Imagine H2O’s President Scott Bryan. “With The Coca-Cola Foundation, we will help underserved communities around the world embrace new technologies by providing dedicated funding and insight to entrepreneurs, local water providers and government partners.”
Learn more about how you can support the Sustainable Access Solution Fund here
About The Coca-Cola Foundation
The Coca-Cola Foundation’s mission is to make a difference in communities around the world where The Coca-Cola Company operates and where our employees live and work. We support transformative ideas and institutions that address complex global challenges and that leave a measurable and lasting impact. Our giving is focused on sustainable access to safe water, climate resilience and disaster risk preparedness and response, circular economy, economic empowerment, and causes impacting our hometown community. Since its inception in 1984, The Coca-Cola Foundation has awarded grants of over $1.5 billion in service of its mandate to strengthen communities across the world.
About Imagine H2O
Imagine H2O is a 501(c)(3) nonprofit organization for entrepreneurs building transformative solutions for the future of water. The organization’s water innovation programs provide startups with the resources, insight, and visibility to launch and scale water solutions. By partnering with industry and policy experts and a global network of customers and investors, Imagine H2O has become a proven path to market for emerging water technology businesses. Since 2009, Imagine H2O has supported 175 startups who have deployed their solutions in 50+ countries and have raised more than $850M in investment.