COP28 UAE TechSprint

Scaling up climate action through advancing innovative technology solutions in sustainable finance

Winner per problem statement

Problem Statement Winner

Problem Statement #1 - AI Technology Intensel Limited (Hong Kong)

Problem Statement #2 - Blockchain Technology ZERO13 (United Kingdom)

Problem Statement #3 - IoT and Sensor Technologies Evercomm Singapore Pte Ltd (Singapore)

Problem Statement	Winner
Problem Statement #1 - AI Technology	Intensel Limited (Hong Kong)
Problem Statement #2 - Blockchain Technology	ZERO13 (United Kingdom)
Problem Statement #3 - IoT and Sensor Technologies	Evercomm Singapore Pte Ltd (Singapore)

DAY 00

HR 00

MIN 00

SEC 00

#cop28uaetechsprint

COP28 UAE TechSprint Journey

Registration Opens

Registration to participate in the COP28 UAE TechSprint begins.
Submit Proposals

Participants must submit fully completed proposals to address one or more of the problem statements by Friday, 6 October 2023.
Shortlist Finalists

Proposals will be reviewed and shortlisted by experts and the organisers; shortlisted entries will be invited to develop solutions.
Submit Solutions

Shortlisted participants must submit solutions by 20 November 2023. An independent judging panel convened by the organisers will evaluate and select the winners.
Announce Winners

The COP28 UAE TechSprint award ceremony and event to be held at COP28 UAE.

All timings are as per (GMT) Western Europe Time, London, Lisbon, Casablanca

Organized By

About Us

Under the COP28 UAE Presidency, the Central Bank of the UAE (CBUAE), the Bank for International Settlements Innovation Hub (BISIH) and the Emirates Institute of Finance (EIF) have joined hands to launch the COP28 UAE TechSprint, the first COP TechSprint facilitated by the BISIH.

The COP28 UAE TechSprint vision is to unite, act and deliver in the area of financial technology solutions to drive progress in climate action. This pioneering initiative seeks to bring together technologists, innovators, data scientists, not-for-profit institutions, the financial services sector, and other private or public sector participants to bring forward best-in-class AI, blockchain, IoT and sensor technology solutions that can be used by the finance industry to support climate action.

The best technology solution for each problem statement will be publicly announced at COP28 UAE with the teams of three winning solutions eligible for an award. Shortlisted applicants will be eligible for a stipend and featured in a COP28 UAE TechSprint report.

Problem Statements

Three problem statements have been developed along the theme of scaling up climate action through advancing innovative technology solutions in sustainable finance.

Problem Statement 1

AI Technology

How can we automate and increase adoption of standards in sustainable finance using AI technology to unlock the value of vast troves of unstandardised sustainability data, e.g.,

What practical and scalable solutions can leverage generative AI to accurately implement (e.g., measure, report, and verify) green frameworks internationally, while allowing issuers to quickly leverage multiple data sources to comply with disclosure, standard, and taxonomy-related requirements?
What practical and scalable solutions can leverage AI tools to enable financial institutions, asset managers, and investors to make informed underwriting and investment decisions accelerating sustainable finance?
Other innovative AI solutions in sustainable finance to scale up climate action will be considered.

Problem Statement 2

Blockchain Technology

How can we ensure data integrity in sustainable finance using blockchain technology to increase investor and market confidence by enhancing transparency, traceability, and accountability, e.g.,

How can using blockchain in the context of capital markets (e.g., green bonds), enable efficient auditing processes, enhanced transparency, and seamless traceability in sustainable finance while harnessing blockchain's potential to disintermediate, increase speed and reduce costs?
What practical and scalable solutions can effectively track and validate the environmental impact of investments, ensure compliance with sustainability standards, and foster a high level of trust among stakeholders?
Other innovative blockchain solutions in sustainable finance to scale up climate action will be considered.

Problem Statement 3

IoT and Sensor Technologies

How can we enhance data collection in sustainable finance using IoT and sensor technologies for monitoring and capturing data to improve accuracy and ensure informed assessments of impact, risk and compliance, e.g.,

How can creative combinations of IoT and sensor technologies (all types of on-site, off-site, and remote sensor technologies, which may also include spatial information technology and satellite remote sensing) revolutionise the collection, analysis, and reporting of sustainability metrics in sustainable finance?
How can secure and globally scalable IoT and sensor technology solutions facilitate accurate data insights, enable proactive risk management, and empower asset managers to seamlessly comply with sustainability requirements, thereby driving the transition towards a carbon-neutral economy?
Other innovative IoT and sensor technology solutions in sustainable finance to scale up climate action will be considered.

Prize

Prizes and stipends

Prizes and stipends will be provided by the Central Bank of UAE.

Winning Prize

The winning team from each problem statement will be eligible for an award of AED 220,000 (approximately USD 60,000).

Stipend

Each shortlisted team will be eligible for a stipend of AED 45,000 (approximately USD 12,000).

Eligibility

Applications are open to all with a passion for solving sustainable finance technology challenges with a drive for progress towards climate action. We seek innovators with a proven track record of delivering scalable solutions that make use of AI, blockchain, IoT and sensor technology.
Each team member may join one team, and each team can submit one proposal for a problem statement. Teams have the option to apply for multiple problem statements, but they can only be shortlisted once. Teams responding to one problem statement with the primary technology are allowed to use additional supporting technologies.
Participants must meet the following criteria:
- Above 18 years of age;
- Is/are not an employee(s) of the organisers (COP28, CBUAE, BISIH, and EIF or any of their subsidiaries or affiliates), or an immediate family member of any such employee;
- Agree to the Terms and Conditions of the COP28 UAE TechSprint, which govern the participation in the COP28 UAE TechSprint;
- Agree with the APIX Terms of Use, which regulate the use of the APIX platform.
Participants must fully complete the registration and proposal submission process within the stated deadline given above. Any request for delayed submission will not be considered.

Media Centre

FAQ

Can I apply?

Participants who are enthusiastic about addressing green and sustainable finance challenges with AI, blockchain, IoT and sensor technologies are encouraged to apply. We are particularly interested in innovators who have a successful history of implementing scalable solutions in this field.

Are there any additional requirements?

Yes, along with your application, you will need to consent to both the Terms and Conditions of the COP28 UAE TechSprint and the APIX Terms of Use during the registration process.

What is the expected deliverable at the end of the COP28 UAE TechSprint, and will my team have a chance to deploy the solution?

Shortlisted teams will submit their working prototype at the end of the COP28 UAE TechSprint. The TechSprint aims to receive innovative solutions that can be implemented in real-world scenarios in future. However, it is important to note that there is no guarantee or obligation from the organisers that the winning prototype will be deployed.

Must I be a registered company/firm to participate?

No, participants do not have to be registered companies. Please note that shortlisted teams will be eligible for a stipend and winning teams will be eligible for an award irrespective of the team size.

Will the COP28 UAE TechSprint offer prizes?

Teams who submit a winning solution of the COP28 UAE TechSprint will be eligible for an award. There will be one award to the winning solution for each of the three problem statements (three awards in total).

Can I participate in multiple problem statements?

Our recommendation is for each team to participate in a single problem statement, concentrating on their strongest area of expertise. This approach ensures that each team's efforts are focused and maximises their innovative impact. It's important to note that a team can only be shortlisted for consideration once, and likewise, each participant is allowed to join only one team throughout the competition. This rule is in place to promote fairness and equal opportunity for all participants.

How will the winning proposals be selected?

There will be two rounds of evaluation. Proposals will first be reviewed by the TechSprint organisers and our appointed agents. This is to shortlist the most promising participants to enter into the prototype development phase of the TechSprint. The shortlisted participants will subsequently submit their developed solutions to be assessed by a panel of independent expert judges convened by the organisers.

How do I register and submit my proposed solution(s)?

You may click on the registration tab and complete the registration questionnaire before the registration deadline with details of your proposed solution in the relevant sections of the questionnaire.

Important Guidelines for COP28 UAE TechSprint Participants

●       Team leaders must fully register their teams and submit their solutions to one or more problem statements before the registration deadline.
●      Early registration is recommended, as registrations for specific problem statements may close once the application cap is reached. Participation is free of charge.
●       Each team member can join only one team, and each team can submit one proposal per problem statement. Teams can apply for multiple problem statements, but they can only be shortlisted for one.
●       Participants retain ownership and intellectual property rights for their solutions and related information submitted on the platform in response to the problem statements.
●      Final submissions from shortlisted participants will be required for evaluation by the judging panel via the APIX platform. Participants must ensure that they have all necessary authorisations, permissions, licenses, and agreements to participate in the COP28 UAE TechSprint and for all material uploaded to, or developed on the APIX platform; and that their participation in the COP28 UAE TechSprint and their submitted solution comply with all applicable laws, rules, and regulations.
●       If a participant's solution is selected as a winning entry, such participant agrees to present it in a manner and format agreed upon with the organisers.
●       By registering and accepting the Terms and Conditions, participants grant COP28, the Central Bank of UAE, the EIF, the BIS, and/or APIX the right to use, distribute, and publicly display the submitted solutions for the purposes outlined in the COP28 UAE TechSprint Terms and Conditions.
●       The competition will be conducted in English, and all materials and communications must be in English as well.