SAB Foundation Social Innovation competition- Entries Close Today

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The South African Breweries (SAB) is encouraging entrepreneurs and innovators with innovative, pro-poor products and services to enter for the SAB Foundation Social Innovation Awards 2015. This competition carries a first prize of R1m. The SAB Foundation was founded in 2009 as part of SAB’S broad based black economic empowerment transaction called SAB Zenzele. This foundation aims to contribute to the economic and social empowerment of historically disadvantaged communities, primarily by means of entrepreneurship development and with a priority focus on benefiting women and youth in the rural areas, as well as people with disabilities.

The SAB Foundation invests in micro, small and medium enterprises through the Tholoana Enterprise Programme providing grassroot support for co-operatives, micro-businesses and similar ventures.The SAB has been making great changes since 2010, as this foundation has supported 260 enterprises at a total investment of around R50m.

2015 marks yet another year of great possibilities for entrepreneurs and innovators, as the SAB Foundation, in a bid to strengthen its business development support to innovators, have teamed up with the South African Bureau of Standards’ (SABS) dedicated Design and Innovation Studio, to host the SAB Foundation Social Innovation Awards 2015.

A team of 30 world renowned multi-disciplinary experts will help the SAB Foundation Social Innovation Awards finalists to develop their ideas into prototypes, as well as the products design and commercialisation.

This is a life changing opportunity for success driven, passionate and hardworking young individuals to prove themselves.

In the previous years, these awards have unearthed some game changing social innovations. These ranged from lifesaving malaria tests, to affordable instant food gardens, efficiencies in public health, solar technologies, housing construction using waste and many more. These were local innovations that impressed the panel and they hope to be blown away in 2015 yet again.

“We trust that this year will showcase even more remarkable products and services”, says SAB Foundation Manager, Bridgit Evans.278007

The SAB Foundation Innovation Awards offers a first place grant of R1m, second place grant of R500, 000 and third place R350, 000. In addition, several developmental awards are awarded to deserving and stand-out innovations.

Product innovations cover goods and services which can be divided into new‘ or ‘improved’. A new product may use advanced technology and knowledge, or a combination of the two, while an improved product is one that already exists, and its performance has been enhanced.

Process innovations involve adapting and creatively improving ways of delivering a product or service. This could come from changes in knowledge, perception and/or understanding. The innovation solution must have progressed past an idea and must have proof-of-concept. This means that applicants must be able to show evidence that prior to entering the competition that they have invested time and/or capital developing the innovation. The social impact of the innovation is a strong selection criterion.

An open competition puts innovator applicants and their innovations through a rigorous, phased adjudication process. In the end, investments are made in those innovations which are innovative, scaleable and can be commercialised.

Applicationsclose at noon on Monday, 1 June 2015, and all applications must be completed online at www.sabfoundation.co.za.