Investments in water technology have historically been as low as the current snow pack in the Sierra Nevada mountains. But with increasing talks of drought and fears about feeding a rapidly growing world population, that’s starting to change — albeit slowly.

That’s why a San Francisco-based startup and nonprofit, Imagine H2O, has begun to help organize and encourage emerging water innovations in recent years. Founded in 2007, Imagine H2O runs an annual water technology startup competition and accelerator program and offers the winners not only cash but also opportunities to run pilot projects — and prove that their technology works — with water utilities, growers and food processors. Imagine H2O recently chose 12 finalists for its competition and plans to announce the winners this upcoming March.

Though, venture capitalists, many of which were recently burned by cleantech investing, might not be flooding to back these startups just yet. “Water…