Innovative farmers challenged to solve water woes Bridge Hub 2020 Water Challenge

The Bridge Hub 2020 Water Challenge asks pundits to solve questions such as how can agriculture use less water yet increase its profitability and how can arid areas be turned into productive regions.

Bridge Hub founded Craig Shapiro said the program was looking for practical solutions to the water problems faced across the agri supply chain.

"If we can unlock and solve the many water issues we face, it will help us tackle the really big picture issues such as drought," Mr Shapiro said.

The best research solution will win both prize money and commercial investment.

Mr Shapiro said the commercialisation of research was as much about creating impact and scale as it was about financial return.

"Our researchers are outstanding but we haven't always done as well as some other nations in commercialising our great research.

"Right now, universities face the challenge of how they might continue to deliver solid research in a very changed global environment.

"This represents a perfect time to think about the role of private investment, and collaboration and commercialisation opportunities."

Deputy Prime Minister Michael McCormack gave the challenge his backing.

"Water is our most valuable resource and we need to use it preciously - every single last drop needs to be maximised," Mr McCormack said.

"I look forward to hearing all about the ideas and solutions that come from important challenge."

Applications close on Friday, August 7. For more about the Challenge, visit waterchallenge.co.