Applications are open for the annual SAB Foundation Social Innovation Awards and Disability Empowerment Awards, with entrepreneurs invited to apply for the chance of securing a share of ZAR12 million (US$850,000) in prize money.
The Social Innovation Awards are aimed at innovators, social entrepreneurs, institutions and social enterprises with prototypes or early-stage businesses that can solve social problems, and directly address the challenges faced by low-income women, youth, people living with disabilities, or people living in rural areas.
Meanwhile, the Disability Empowerment Awards seek social enterprises which have come up with innovative solutions that improve access to the economy, or solutions for disabled people, while generating enough revenue to become sustainable over time.
A total of ZAR12 million in prize money is up for grabs, with overall winners walking away with up to ZAR1.3 million (US$92,000) in grant funding. Applications are open here until March 28.
“The SAB Foundation, through its Social Innovation Awards programme, aims to empower South Africa’s innovative thinkers and brightest entrepreneurial minds to develop products and services which help the country’s most vulnerable communities and at the same time empower themselves as entrepreneurs,” said Ntando Nodada, social innovation specialist at the SAB Foundation.