Applications are now open for the 2024 SAB Foundation Social Innovation and Disability Empowerment Awards. The awards are open to entrepreneurs that have an innovative solution that tackles social issues faced by underserved communities, or enhances economic access and empowerment for persons with disabilities.
Application Deadline: March 19, 2024
The program for Social Innovation Awards is intended for innovators, company owners, institutions, and social enterprises that have early-stage ventures or prototypes that can address social problems in our nation. These goods, services, company plans, and procedures ought to solve societal issues head-on while also developing a viable business plan.
Eligibility Requirements for SAB FOUNDATION SOCIAL INNOVATION AND DISABILITY EMPOWERMENT AWARDS 2024
- The SAB Foundation Social Innovation and Disability Empowerment Awards are open to any innovation solution that offers a credible prospect of meeting a demonstrable social and/ or economic need evidenced by the SAB Foundation’s target low-income beneficiary groups (with a particular emphasis on innovation that benefits women, youth, people with disabilities and those in rural areas), as well as demonstrating potential as a sustainable businesses.
- Entries are welcomed from South African individuals, innovators, entrepreneurs, social enterprises and 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.
- 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.
- Applications are open to all South African citizens, 18 years or older. All participants must submit a certified copy of their South African Identity Document with their online applications.
- 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 and testing prototypes, market and industry research, developing a business plan.
Prizes
- Prizes range from R300 000 to R1.3 million and are used as an investment in the innovation.
- In addition to the prize money, the winners are assessed on a case-by-case basis and placed in a tailored programme with a suitable business mentor and coach.
The curriculum is adaptable and tailored to each winner’s requirements, as decided upon in concert with the winner, mentor, and business coach.
