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Problem Statement #3:
Innovation in the Blue Economy

Problem Statement

How can youths innovate in the blue economy? In other words, what problems do you believe are pertinent and globally impactful within the domain of the blue economy, and how can you solve them?

The Challenge

This problem statement invites any sort of ideas that fall within the large blanket of the Blue Economy.  The committee would like to view the multiple distinct viewpoints that participants are able to afford (solutions to generate food, generate energy, generate jobs, et cetera) and will work with any valid ideas, connecting them to investors to kickstart their initiatives, or mentors to refine worthwhile but not yet mature ideas into a stage that is ready for deployment.

Judging Criteria

Impact

If this problem is solved, how many stakeholders will be impacted? Quantify the amount by which they will be impacted. This is essentially the magnitude of the problem.

Validity of
Solution

How well does the solution solve the problem?

Actionable

How realistically can the solution be implemented given the existing policies and legal restrictions surrounding the targeted countries and localities? 

Prizes

SGD 2,000

2ND

SGD 3,000

CHAMPION

SGD 1,000

3RD

Choose your role

IDEATOR

As Ideators, you will be charged with creating effective and scalable ideas to solve the problem statements listed under each of the three Tracks. Ideators should have a passion for enacting change and for complex problem solving. 

Participants from all educational and employment backgrounds are welcome; your edge lies in your understanding of the problem areas and willingness to think clearly and ideate effectively.

REGULATOR

As Regulators, you will be responsible for ensuring the ideas generated are legally air-tight and ready to be implemented in reality for the country or locality it’s in. Regulators should have a general understanding of the rules and policies governing their locality, or have the resourcefulness to identify any legal information that may affect the implementation of an idea.

You will criticize and attempt to tear down ideas, allowing the Ideator team to grow with each passing evolution.

Participants here will generally come from a Law or Public Policy background, and/or are involved in discussions surrounding local policy.

Background

The Blue Economy is broadly defined as “the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of the ocean ecosystem". 75% of the world's megacities are located by the sea, providing coastal communities with food and minerals, while generating oxygen and absorbing greenhouse gases.

 

Apart from mitigating the impact of climate change and determining temperatures and weather patterns, the oceans also provide an avenue for international trade and shipping. Our wellbeing and economic growth is intrinsically tied to the seas, hence the term, “Blue Economy”.

The oceans, however, are in the worst conditions they have ever been. Plastics and oil pollution are suffocating marine life. Overfishing is draining food resources (and is creating large volumes of waste in the process). We must acknowledge the scarcity of ocean resources and hence, find a balance between growing the economy and preserving our oceans.