Feed the Long-Term Pipeline for Metals
Context: After years of declines, exploration spending is slowly picking up. 2017 has seen an increase in exploration investment, across the industry, for the first time since 2012, rising by more than 14% year-over-year to $9.94 billion2. The drill bit now needs to deliver. How can we decrease risk and shore up resources faster? Enhance geological modelling methods? Leverage data analytics? Drill with efficiency and accuracy? At Goldcorp, we are one-third of the way towards our 20% gold reserve growth target by 2021.
Your Challenge: Pitch an idea that will revolutionize exploration and boost reserves. Shape the way we find the next big deposit, whether through breakthrough technologies, better analytics, artificial intelligence or machine learning. Help us reinvent the way we do exploration and reduce the average discovery costs per ounce. Shape the future of metals discovery.
Enhance Productivity, Efficiency and Automation
Context: Productivity remains one of the primary operational challenges in the mining sector today. We have to reinvent, cut costs and increase efficiency by embedding innovative solutions on how mines are operated and managed. Productivity rates can quickly be increased by up to 5%3 through improved operations – for example, by implementing predictive maintenance analytics, tele-remote and automated vehicles, production yield and asset utilization optimization. The impact of these solutions could be up to 10% improvement throughput and up to 30% cost reduction without significant capital or time investment.
Your Challenge: Bring us new thinking to help increase production by 10–20% and reduce all-in sustaining costs by 20–30% in the most efficient way possible.
Context: In 2016, the industry fatality frequency rate was 0.03 and the recordable injuries frequency rate was 4.26 per 1 million hours worked4. The industry is pushing change, but humans aren’t designed to respond quickly to change. Policies and clear regulations are the go-to safety solution. Is more paperwork the best way? How can we remove the pencil whipping and teach real safety? Until we – as an industry – reach zero harm, our work is not complete.
Your Challenge: Devise a pivotal, life-saving solution to bring our workers home safely to their families every day.
Reduce Environmental Footprint
Context: Climate change is an undeniable and critical global challenge. Its causes must be addressed by all parts of society, including the mining industry5. Striving for better environmental performance incentivizes innovation. Goldcorp is 73% of the way to reducing our greenhouse gas emissions by 20%. We are 84% of the way to increasing our energy efficiency by 15%. We are 83% of the way to sourcing 5% of our energy from renewable sources. And Goldcorp launched its Towards Zero Water (H2Zero) initiative, a ten-year journey to drastically reduce our water consumption.
Your Challenge: Suggest solutions to enable continual improvement in water stewardship, energy use and greenhouse gas emissions. How can we further reduce our impact?
Facilitate Open and Transparent Markets
Your Challenge: Transform the way we conduct physical trading to be more efficient and transparent. Bring investors access to reliable, current global data. Make commodities markets more accessible and attractive to a broader base of investors.
Your Challenge: Is your idea so disruptive it can’t be allocated into one of these categories? Then this is the section for you – our wild card. Surprise us with your rogue and bold idea; we want to hear them all!
#DisruptMining will showcase ideas designed to unlock new opportunities and accelerate solutions to some of our biggest challenges and opportunities.
Submission scoring will be broken down into the following five categories. The questions within each category are intended to be advisory in nature; they should not be interpreted as specific judging criteria. Suggestions have been made in each category by our judges as sections or practices to consider including in your proposal. They are not mandatory.
1. Innovation – 30%
- Does the idea modify an existing idea, or is it a totally new concept?
- What is the existing technology in this sphere, and how is this application unique?
Suggested submission section: Competitive Analysis or Explanation of Current Industry Status.
2. Impact and Value – 30%
- What is the burning platform? Why is this necessary?
- What value will this bring to the industry?
Suggested submission section: Value Proposition or Financial Model.
3. Implementation and Scalability – 20%
- Is there a strategy in place to ensure long-term implementation and to outline the feasibility of industry-size scalability?
- How have the major risks associated with the idea been mitigated?
Suggested submission section: Implementation Strategy or Scalability Model.
4. Delivery – 10%
- Is the application presented in a clear and concise manner?
- Are sufficient information and knowledge provided?
Suggested presentation: Ensure overall good grammar, spelling and design.
5. Video – 10%
- Does the video succinctly explain the proposed idea?
- Does the video actively engage and educate the viewer?
Suggested presentation: Clear visuals and high-quality audio files.
In the event of a tie, the participant with the highest score between or among the tied entries in the Innovation category will be deemed the higher-scoring entrant.
All applications MUST include:
- Brief biographies of individual or team members
- Legal or intellectual ownership status
- Report submission (maximum of five 8.5 by 11" pages; minimum 12-point font size; minimum margins are one inch; text in tables and figures may be as small as 9 points)
- Video is highly recommended (maximum of two minutes)
- Proposals must be uploaded as a single unlocked PDF document, 20 MB maximum. (Embedded hyperlinks to external content, such as videos, animations or anything else that might help in the selection of an idea or concept, are encouraged.)
The submission portal opens Tuesday, January 2, 2018 at 12:01am PST / 3:01am EST.
The submission is due no later than Tuesday, January 16, 2018 at 8:59pm PST / 11:59pm EST. Late submissions will not be accepted.
There will be two formal rounds of judging to determine semi-finalists and four finalists. A team from the University of British Columbia composed of individuals with varying backgrounds will conduct the first round of judging.
UBC will filter submissions to provide a short list, which will then be given to Goldcorp to select semi-finalists and four finalists who will be invited to attend the #DisruptMining event during the 2018 Prospectors and Developers Association of Canada (PDAC) Conference in Toronto. Semi-finalists will be invited to showcase at the Innovation Expo, and Finalists will be invited to participate in the “shark-tank” style live finale. All submissions will be judged according to the scoring rubric. Questions? Contact email@example.com.
Finalists will have the opportunity to negotiate up to CAD$1 million in investment for a proof of concept at one of Goldcorp’s mines or direct investment in the winning technologies as described further in the rules below.
Finalists will have the opportunity to negotiate up to CAD$1 million in investment for a proof of concept at one of Goldcorp’s mines or direct investment in the winning technologies.
Who is eligible to enter the challenge?
The Challenge is open to all individuals or groups of individuals in Canada or the United States (excluding residents of Arizona, Colorado, Connecticut, Florida, Maryland, New Jersey, Tennessee and Vermont) who are over the age of majority in their province, state, territory or country of residence, excluding employees, representatives, sponsors who have paid more than $5,000 in sponsorship fees, relatives, dealers and agents of the Society and Goldcorp (and their respective affiliates). Whether you just thought of your idea in the shower or you have an established company, we welcome all ideas, from individuals from all backgrounds. Don’t have a mining background? Don’t worry! We want to invest in big ideas that improve mining, wherever those ideas originate. ~ Updated January 15, 2018
What are the submission requirements?
The written submission must be no more than five 8.5 by 11" pages using a minimum font size of 12 points. We don’t want to use magnifiers to read your application! Full application details can be found here.
When does the submission portal open and close?
Submissions will be accepted via the online portal from Tuesday, January 2, 2018 at 12:01am PST / 3:01am EST until Tuesday, January 16, 2018 at 8:59pm PST / 11:59pm EST. Late submissions will not be accepted.
Who is judging the applications?
The preliminary application judging will be conducted by an external team from the University of British Columbia. The team can be contacted at firstname.lastname@example.org. UBC will select a short list, which will then be filtered down by Goldcorp to a selection of semi-finalists and four finalists who will attend PDAC.
Who are the “sharks”?
The biographies and backgrounds of the “sharks” will be released closer to the challenge. Make sure you are following us on social media to be the first to find out!
What is the investment?
Four finalists will have the opportunity to negotiate up to CAD$1 million in investment for a proof of concept at one of Goldcorp’s mines or direct investment in the winning technologies (investment not guaranteed, and/or investment may be allocated among two or more of four finalists; exact level of investment, if any, is at Goldcorp’s sole discretion and subject to completion of appropriate due diligence).
Can there be more than one winner?
Yes, all four finalists could potentially walk away with up to CAD$1 million in investment for a proof of concept at one of Goldcorp’s mines or direct investment in the winning technologies.
While a CAD$1 million investment is cool, I actually need something else, like access to a mine site to build a prototype – can I ask for this instead?
Yes! If an investment is not what you’re after, make your ask clear in your submission.
Can I promote the fact I submitted an application?
Please do! We want to see your spirit radiate throughout social media and the industry. Make sure to use the hashtag #DisruptMining and follow us on social media to get the latest updates.
I don’t live in Toronto. If I am chosen as a semi-finalist for the expo or as a finalist, will my travel and accommodation be covered?
Only the four finalists selected to take part in the live #DisruptMining finale will be reimbursed for reasonable pre-approved travel and accommodation expenses in Toronto, up to a maximum of CAD$5,000, and subject to providing reasonable documentation to substantiate the expenses.
I have an established company – can I submit an application?
Yes! But make sure we don’t just get your business proposal – show us that innovative spark that got your idea started!
I have a startup – can I submit?
Of course! No matter the size of your startup, we’d love to hear your idea!
I have a crazy idea, not a company or a business – can I submit?
Are you sensing a theme to these answers? YES! All ideas are welcome.
I submitted last year but wasn’t chosen as a semi-finalist or finalist – can I submit again?
Yes! Maybe your idea has matured or evolved, or your explanation of it sells the dream. At any rate, the judging team will not have access to last year’s submissions.
I submitted last year and was a semi-finalist – can I submit again?
Go ahead! The judging team will have seen your previous application, but will remain objective. Remember though – the scoring rubric and judging process have changed this year, so make sure you adapt to the new requirements!
I don’t live in Canada or the United States – can I submit?
Please email us at email@example.com.
Who can I contact to ask more questions?
Please contact firstname.lastname@example.org with questions.
Submissions are due
Tuesday, January 16, 2018
8:59pm PST | 11:59pm EST