Now in its third year, the #DisruptMining innovation challenge aims to encourage new ideas, identify new opportunities and help to accelerate the growth of new companies tackling challenges in mining in new and different ways.
Innovators and entrepreneurs are encouraged to submit their ideas for a chance to pitch in front of a live audience of over 500 industry leaders and a ‘shark-tank' style panel. The winner(s) will have the opportunity to negotiate up to C$1 million (US$760,000) investment for a proof of concept at one of Goldcorp's mines or direct investment in the winning technologies.
Todd White, executive vice president and chief operating officer at Goldcorp, said: "The mining industry today is collaborating and investing in technology and innovation like never before. We have digitised, automated and applied new technologies to various aspects of the mining life cycle, but our industry needs to accelerate the cycle of innovation even more to stay competitive, deliver greater value to shareholders and be best prepared for our future.
"Goldcorp is amongst the most innovative companies in the gold business, and we see #DisruptMining as a catalyst that helps us identify and champion new ideas, new partnerships, new technologies and new thinkers. At least seven of our #DisruptMining alumni have launched to new levels. We believe there are a lot more great ideas out there, and we're ready to help make them happen."
Following the 2018 #DisruptMining challenge, winner Acoustic Zoom, an advanced geophysics company specialising in innovative seismic solutions, secured a C$1 million investment in its business from Goldcorp and launched a C$150,000 pilot programme at Goldcorp's Red Lake gold mines in Ontario.
Other #DisruptMining alumni - including Enviroleach, LlamaZoo, Open Mineral, Bio-Mine, Cementation, Goldspot Discoveries, KORE Geosystems and Tradewind Markets - have transformed their rogue ideas, become established start-ups, substantially evolved their services and operations, or have scaled their technology solutions.
"DisruptMining was truly a catalyst for our business and put us on the world stage," said Jacques Guigné, CEO of Acoustic Zoom. "We now have multiple international contracts with major mining companies and have accelerated the development of our technology with further innovations, in addition to building our ability to service with a growing equipment portfolio."
#DisruptMining offers entrepreneurs a platform to bring disruptive and exponential technologies to the sector, whether it's unlocking exploration opportunities, finding operational and production efficiencies, reducing the environmental footprint and delivering on sustainability commitments, or developing alternative ways to finance capital projects.
Any innovator interested in pitching their idea for #DisruptMining is encouraged to submit an application here.