The SAB Foundation is looking for innovative entrepreneurs who will make an impact in society for this year’s sixth annual SAB Foundation Social Innovation Awards.
The competition aims 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. It serves as a catalyst for social change in rural communities through its investments in innovative products and services. The awards are committed to supporting innovations that focus on sustainable methods of assisting these vulnerable groups as well as empowering entrepreneurs and innovators who help change the lives of individuals.
The aim of the SAB Foundation Social Innovation Awards Programme is to help upscale and commercialise the innovative solutions of the winners. As part of a significant cash injection, each entrepreneur will be offered a personal mentor who will help guide them on their journey to develop their business and product or service. This mentorship, which recognises the uniqueness of each entrepreneur, will be tailored according to each entrepreneur’s stage of operation and growth needs.
The SAB Foundation Social Innovation Awards offers a prize for sustainable innovation, either a product or process that addresses a challenge faced by its beneficiary groups. Emphasis is placed on innovations that are scalable and able to be commercialised.
Prizes consist of the following:
- 1st place R1.2 million
- 2nd place R600 000
- 3rd place R400 000
- Several developmental awards are awarded to deserving innovations
The SAB Foundation Innovation Awards are open to all South African residents, and seek the best ideas to enhance the lives of disadvantaged South Africans. Specific consideration will be given during the judging process to the race, gender, age and disability status of applicants.
- Be South African - can be part of a group, organization or individual
- Present original and innovative work
- The innovation can be a product or a process
- Show proof that before applying, they have spent time and/or money developing the innovation
CLICK HERE to apply.