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This document sets out the process we have followed for our Water Breakthrough Challenge 3 innovation competition (Breakthrough 3) and the reasons for our funding decisions. We opened Breakthrough 3 in October 2022. We invited water companies, in partnership with others, to enter two streams of the competition. • The Catalyst Stream made approximately £8 million available for entries valued between £150,000 and up to £2 million. • The Transform Stream made approximately £30 million available for entries valued between £2 million and up to £10 million. The Catalyst stream opened on 3 October 2022 and closed for entries on 8 December 2022. We announced the 11 winners on 16 May 2023. The Transform stream opened on 3 October 2022 and closed for stage 1 entries on 9 November 2022. Stage 2 opened on 8 December 2022 and closed for entries on 2 February 2023. We announced the five winners on 16 May 2023.