HCL and World Economic Forum Launch Major Innovation Challenge to Secure a Water-Resilient Future

NOIDA, India – April 22, 2026 – As the world grapples with an escalating water crisis, HCL Group and the World Economic Forum's innovation engine, UpLink, have announced the launch of the fifth Aquapreneur Innovation Challenge. Titled 'Transforming Water Systems,' the initiative aims to catalyze a new wave of technological solutions by offering CHF 1.75 million (approximately USD 1.9 million) to ten pioneering entrepreneurs, or 'aquapreneurs,' who can reshape how we manage our most precious resource.

The challenge, part of a five-year, CHF 15 million collaboration, shifts the focus from isolated water-saving measures to a comprehensive overhaul of entire water systems. It comes at a critical time, with UN researchers warning in 2026 that the planet is approaching a state of "water bankruptcy," where demand and depletion far outpace natural replenishment.

A Systemic Approach to a Worsening Crisis

For too long, solutions to water scarcity have been fragmented. The 'Transforming Water Systems' challenge seeks to change that by addressing systemic risks driven by climate volatility, surging industrial demand, and critical gaps in decision-making. According to global water reports, between two and three billion people already experience water shortages for at least one month per year, and by 2030, global freshwater demand is projected to exceed supply by a staggering 40%.

Recognizing this complex reality, the challenge is structured around three critical focus areas:

1. Ensuring Water Supply Reliability: This pillar targets innovations that can guarantee a dependable water supply for everything from individual facilities to entire city-wide networks. The goal is to build resilience against the disruptions caused by climate extremes, energy instability, and contamination risks that increasingly threaten interconnected systems.

2. Redesigning Water-Intensive Processes: With industries accounting for a significant portion of global freshwater withdrawals, this area seeks to fundamentally re-engineer industrial and digital processes. The challenge prioritizes solutions that decouple performance from freshwater dependence, particularly in water-critical operations like manufacturing and the cooling of data centers, whose water consumption is projected to soar.

3. Water System Intelligence for Decision Making: In an era of aging infrastructure where municipal systems can lose up to 30% of treated water to leaks, data is paramount. This focus area calls for technologies that use AI, machine learning, and advanced sensors to turn raw data into actionable intelligence, enabling predictive maintenance, optimized resource allocation, and faster responses to climate-driven volatility.

Fostering the 'Aquapreneur' Revolution

The initiative is built on the belief that early-stage entrepreneurs hold the key to unlocking transformative change. The term 'aquapreneur' itself signals a new generation of innovators dedicated to solving water challenges. The collaboration between HCL and UpLink provides a powerful ecosystem to nurture these ventures, combining financial awards with mentorship, global visibility, and access to a network of industry leaders, policymakers, and investors.

This model has already proven its worth. The broader Aquapreneur Innovation Initiative has yielded remarkable results, contributing to saving over 14 billion litres of water, treating another 1.8 billion litres, and helping participating ventures unlock more than USD 125 million in follow-on funding. One past winner of a related HCL-UpLink water challenge, India-based Indra Water, which uses electricity to recycle wastewater, reported a 243% increase in its treatment capacity between 2022 and 2024, showcasing the rapid scaling potential of these solutions.

"Water is fast emerging as critical infrastructure, shaping economic resilience, industrial continuity, and technological progress," said Sundar Mahalingam, President of Strategy at HCL Group, during the launch. "The future of water is no longer just about supply, but about systems strained by climate volatility, industrial dependence, and decision-making gaps. Through this challenge, we aim to drive innovations that secure reliability, re-engineer water-intensive processes, and enable data-driven choices."

John Dutton, Head of UpLink at the World Economic Forum, emphasized the urgency of bridging the gap between innovation and implementation. "Early-stage solutions exist, but many lack the partnerships, funding and real-world deployment support needed to scale," he stated. "Through this challenge, we aim to support entrepreneurs advancing industrial transformation, climate resilience and data-driven water management, and connect them with the resources needed to scale their impact."

Beyond CSR: A Strategic Bet on Water Resilience

For HCL Group, a global technology conglomerate born from a garage startup in 1976, this initiative is far more than a corporate social responsibility project. It represents a strategic investment in global resilience, deeply embedded in the company's broader sustainability commitments. HCLTech, one of the group's companies, was the first India-based firm to join the Water Resilience Coalition and has committed to achieving net-zero emissions by 2040.

The company's actions underscore this commitment. In its India operations, HCLTech replenished 32 times the amount of water it consumed in fiscal year 2024, a testament to its extensive water conservation and rejuvenation projects. This strategic focus positions the Aquapreneur challenge not as an act of philanthropy, but as a vital component of a corporate ethos that recognizes environmental stability as a prerequisite for economic prosperity and technological progress.

Navigating the Water Tech Investment Landscape

The challenge launches into a dynamic but complex market for water technology. The sector saw a record-breaking $1.12 billion in venture capital investment in 2024, signaling strong investor confidence. However, this figure still represents less than 1% of total climate tech funding, highlighting a significant gap between the scale of the water crisis and the capital allocated to solve it. Furthermore, early 2026 data indicates a potential cooling of this investment surge, making targeted support for early-stage companies more critical than ever.

Startups in the water sector often face significant hurdles, including the conservatism of municipal utilities and the high capital costs of deploying new infrastructure. This is where the Aquapreneur challenge provides its most crucial function: de-risking innovation. Evidence from the initiative shows that for 70% of participating ventures, the funding was a critical catalyst, either enabling projects that would not have otherwise happened or significantly accelerating their roadmaps.

By combining non-dilutive funding with access to UpLink's powerful network—whose innovators have collectively raised over $850 million—the challenge provides a unique launchpad. It helps aquapreneurs navigate the 'valley of death' between a proven concept and commercial scale, allowing them to build teams, refine technology, and secure the pilot projects necessary to win over a risk-averse market.

Innovators and entrepreneurs with solutions that can transform water systems are invited to apply for the challenge between April 22 and June 4, 2026. Following a rigorous review process, the ten winners will be announced in January 2027, ready to accelerate their mission of building a more water-secure and resilient world.