The Challenge’s inaugural round will comprise a total Prize Fund of £6M.
Across the Challenge Areas (Identify, Respond, Recover), we seek to identify a transformative solution to win a grand prize award of up to £2M. The remaining funds will be allocated to further winning submissions, for up to £1M per solution. We expect at least one award per Challenge Area.
We expect that one or more Members will offer support and mentorship to the winning solutions.
Other awards may be made at the discretion of the Judges (e.g., honorable mentions for solutions outstandingly meeting some criteria).
The exact amount of the award for each winner will depend on the solution’s needs for development, deployment and scaling over the next three years. Challenge finalists will be asked to provide more detailed plans to inform award funding decisions.
Prize funding awards will be contractually binding between applicants and The Trinity Challenge and must be used to develop the solutions and further The Trinity Challenge objectives.
The Trinity Challenge welcomes submissions from anyone, anywhere in the world. In addition to offering prize funding, The Trinity Challenge will aim to support winning solutions by enabling collaborations with its Members.
While submissions are welcome from anyone, the following eligibility criteria must be met in order to receive prize funding.
Prize funding is available to any of the following entities:
Individuals or groups of individuals, provided that they will create or appoint a legally registered organisation in its home jurisdiction with a bank account to receive prize funding. No funds will be paid directly to individuals.
Organisations, in any form, that are legally registered in their home jurisdiction with a bank account registered to that organisation.
A consortium of the above, provided that a lead organisation or individual is identified.
The Trinity Challenge may require that a solution appoints a fiscal sponsor to receive and administer any award funds on their behalf.
Within their submission, applicants must outline how their solution provides a public benefit that would be globally accessible under fair, reasonable and non-discriminatory terms.
Prize funding will not be awarded to any of the following:
Corporate Founding Members or Members of The Trinity Challenge that have made a contribution into the prize fund
Any applicant that fails The Trinity Challenge Due Diligence checks
Any applicant that does not agree to The Trinity Challenge Award Agreement
For-profit companies that fulfil (or are controlled by a for-profit group that fulfils) any two of the following conditions:
Annual revenue/turnover in excess of £50M per year
Balance sheet net assets in excess of £20M
Average monthly FTE employees in excess of 250