Vale hosts $1 million COVID-19 innovation challenge
Vale is inviting businesses, researchers and individuals to propose innovative solutions to combat COVID-19.
The mining giant is offering $1 million to "...propel innovative COVID-19 solutions into the marketplace.
The challenge is open to participants in Canada and Brazil with each selected solution eligible to receive up to $200,000.
Vale chose a panel of healthcare experts to assist in the technical evaluation of submissions. Entries must fit within three categories:
- Risk Monitoring and Prevention
- Patient Monitoring
- Open Challenge
“Around the globe, industries and individuals alike are working diligently to find innovative solutions to combat this invisible enemy,” said Dino Otranto, Chief Operating Officer of Vale’s North Atlantic Operations and Asian Refineries. “Through this challenge, Vale will be able to support the activation of solutions that have a real potential to positively impact the trends of this virus.”
“By launching this challenge globally, we are hoping to expand it’s reach and accelerate the identification of solutions for our workplace and for the communities in which we live”, added Afzal Jessa, chief digital officer.
A number of mining companies have chipped in to help fight COVID-19:
- Egyptian gold miner Centamin said Monday it has committed 10 million Egyptian pounds, equivalent to circa US$635,000, to support Egypt's response efforts to combat the coronavirus.
- The philathropic arm of Caterpillar committed $8.5 million to support global communities affected by the coronavirus.
- Rio Tinto estimates that it has pledged around $60 million in various COVID-19 efforts.