Ocean Resilience Innovation Challenge (ORIC)2023: Seeking projects to protect coastal communities from climate change

The Ocean Risk and Resilience Action Alliance (ORRAA) launched its 2023 global competition which identifies and nurtures financially innovative, community-led projects that build coastal resilience and reduce ocean risk.

ORRAA’s Ocean Resilience Innovation Challenge (ORIC) – now in its third year – connects projects with potential investors to help bridge the gap between locally led innovation and investment, to accelerate their growth and wider positive impact. It provides mentoring, leadership training and funding, to help promising projects scale up.

 ORRAA is inviting applications from individual community innovators, community groups, experienced implementers as well as start-ups, hubs and accelerators.

 “Both the recent UN Conference of Parties on biodiversity and climate change – COP15 in Montreal and COP27 in Sharm El-Sheikh – recognised that a resilient, net zero and economically secure world is not possible without a healthy, regenerating ocean.The Swiss Re Foundation is proud to continue to support ORRAA’s ORIC programme, in their third cycle, as it is an initiative that is making a real difference to strengthening coastal resilience, a key focus area of the Swiss Re Foundation. We are excited to discover and support Nature-based Solutions in coastal zones that conserve or restore natural assets sustainably with the support of finance and insurance.”, Stefan Huber Fux, Director, Swiss Re Foundation

The overall objectives of the two Ocean Resilience Innovation Challenges supported by the Swiss Re Foundation(upto January 2025)  is to strengthen the solutions’ potential for successful launch and scaling by refining their business models, boosting individual and institutional resilience and, ultimately, helping maximise their impact on communities and regions most exposed to ocean risk. Read more here.

The deadline for applications is Tuesday, 28 February 2023. ORIC23 finalists are expected to be announced in April 2023. To apply, click here.

Find out the winners of the Global Ocean Resilience Innovation Challenge(ORIC) 2022 here.