The Global Infrastructure Hub (GI Hub), a G20 initiative headquartered in Sydney, has launched InfraChallenge, an international competition to disrupt the infrastructure industry by funding digital transformation solutions.
It is calling for digital innovations that can be applied to solve economic or social infrastructure issues and build momentum towards better infrastructure – such as how cities can embrace smart technology solutions to improve quality of life, manage environmental risks with artificial intelligence and improve electricity network with digitisation.
The winning entry team will receive funding to the value of $A50,000 to develop their solution to the next stage and will get support from InfraChallenge partner MIT Solve, an initiative of the Massachusetts Institute of Technology, along with exposure to the G20’s Infrastructure Working Group and ongoing support from the GI Hub and partners.
GI Hub CEO Marie Lam-Frendo said global megatrends like urbanisation, population growth, the impacts of climate change and digitisation meant infrastructure was ripe for disruption.
“We’re looking for teams to apply who are experiencing issues, perhaps in their community, and who think they have a digital-driven idea that can solve them,” she said.
“Whether it’s how 5G or the Internet of Things will fundamentally change how we live in our cities, or the greater availability of data and big data analytics for informed decision making, InfraChallenge is about unlocking digital ideas, solving big infrastructure issues, and bringing disruption to the industry to better prepare us for the future.”
Entries can be made on the Global Infrastructure Hub website and will close on 24 February 2020.
Benefits for Australia
GI Hub said InfraChallenge has clear potential to address Australia’s own infrastructure challenges.
“According to the GI Hub’s Global Infrastructure Outlook, Australia has an estimated infrastructure investment need of $US1.7 trillion in the years to 2040 with the electricity and road sectors accounting for just over half of the projected investment need.”
It added: “Infrastructure Australia’s The Australian Infrastructure Audit 2019also made the case for digital solutions, recently finding that freight transport delivery times could be reduced by 40 percent with autonomous vehicles, while also finding that without action, road and public transport congestion could double to nearly $A40 billion by 2031. Infrastructure Australia also found that better functioning cities and towns could deliver a $A29 billion increase in GDP in the long term.”
