The African Innovation Foundation (AIF) has announced the call for entries for the 2014 Innovation Prize for Africa (IPA). The prestigious Prize aims at encouraging innovations that contribute to sustainable development in Africa. The winning submission will be awarded a prize of USD 100’000, with two additional USD 25 000, one for the runner up with an innovation with the best business potential and the other one for the runner up with the innovation with the best social impact.
In an effort to drive African-led development, the IPA invites African entrepreneurs and innovators to propose projects that unlock new African potential under one of five categories which include:
agriculture and agribusiness;
environment, energy and water;
health and wellbeing;
manufacturing and services industries.
The 2014 IPA will consist of three Prizes, which will be given following the criteria outlined above:
First Prize (USD 100,000): This prize will be awarded to the innovator with the overall best innovation that meets all the above mentioned IPA criteria with clear business potential.
Runner-up Prize (USD 25,000): This prize will be given to the selected innovator with a commercially driven innovation. Beyond the aforementioned five criteria, this category of Award will be assessed on its marketability potentials and will be awarded to the innovation with the best commercial/business potential.
Special Prize for Social Impact Innovation (USD 25,000): This category of award will be assessed on its particular social impact in the community/country and will be awarded to the innovation with the best social impact.
Finalists: This is a group of IPA participants who will be invited to the face-to-face interview and to the award ceremony. All finalists will receive certificates, and the IPA secretariat will work with them to mobilize in kind support to facilitate next steps for their innovation.