Applications Invited for ORRAA Ocean Resilience Innovation Challenge (ORIC) 2023

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About the Organization

The Ocean Risk and Resilience Action Alliance (ORRAA)’s mission is to drive at least USD$500 million of investment into coastal and ocean natural capital and surface at least 50 novel finance products by 2030, positively impacting the resilience of at least 250 million climate vulnerable people in coastal areas around the world. We are the only multi-stakeholder alliance working in ocean finance that brings insurers, banks, governments, academia and civil society together. We work across geographies – with a focus on the Global South – pioneering, piloting, and scaling innovative finance products that invest in coastal resilience.

About the Grant

The Ocean Risk and Resilience Action Alliance (ORRAA) is today launching 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.

The Challenge launched today is an open and competitive call for proposals. ORRAA is inviting applications from individual community innovators, community groups, experienced implementers as well as start-ups, hubs and accelerators.

We are looking for innovative and scalable finance and insurance products that help drive investment in coastal natural capital that reduce ocean risk and make vulnerable coastal people more  resilient. The initiatives must also  include a focus on gender, equity and human rights, and protect or enhance biodiversity.

How to Apply

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

Follow the link to access the ORIC23 landing page, which includes a link to the application portal.

For more information please check the Link

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