Deadline: 31 May 2016
The SAB Foundation is currently accepting applications for its Social Innovation Awards Programme 2016 with a motive to recognise the work of entrepreneurs who are finding innovative business solutions to challenges facing some of South Africa’s most vulnerable people like women, children, the disabled and those living in rural areas.
The aim of the Awards Programme is to help upscale and commercialise the innovative solutions of the winners.
Prize Information
Prizes consist of the following:
- 1st Award: 2 million
- 2nd Award: R600 000
- 3rd Award: R400 000
- Several developmental awards are awarded to deserving innovations
Eligibility Criteria
- The SAB Foundation Social Innovation Awards will be open to any innovation solution that offers a credible prospect of meeting a demonstrable social and/ or economic need evidenced by the SABF’s target low-income beneficiary groups (women, the youth, persons with disabilities and persons in rural areas).
- Entries are welcomed from South African individuals, innovators, entrepreneurs, NGOs, corporate foundations, CSI professionals, consulting firms, university departments. Entrants may enter as individuals on their own, or as members of a team, in which case one individual team leader shall complete the online application form.
- The innovation entered must be the original work of the applicant and a true innovation and/or a significant improvement on an existing technology, product, service, and production method or business model.
- Product innovation covers innovations in both goods and services, which can be divided into new or improved products. A new product has different characteristics and intended uses than existing products. It may use new technologies, knowledge and products or a combination of these. An improved product is an existing product whose performance is significantly increased; in terms of either increased output or a reduction in cost.
- Process innovation is the adaption or creation of improved ways to deliver a product or service. It could come from changes in knowledge, perception and understanding. For poverty reduction, process innovations can increase the level of service delivery to beneficiaries, or enable practitioners to reach previously untouched groups or individuals.
- The innovation solution must have progressed past the “blue-sky” thinking stage: there must be some evidence of investment by the applicant. This means that applicants must be able to show proof that prior to applying, they have spent time and/or money developing the innovation: planning, developing & testing prototypes, market & industry research, developing a business plan.
- Applications are open to all South African citizens of 18 years or older. All participants must submit a certified copy of their South African Identity Document with their online applications.
How to Apply
Applicants must apply online via given website.
Eligible Country: South Africa
For more information, please visit Awards Programme.