The prizes range from R300,000 to R1.3 million in funds, and each award winner will get essential business skills development, coaching, mentoring, and technical assistance.
The prizes are available to entrepreneurs that have developed an innovative solution that addresses social concerns in neglected regions or improves economic access and empowerment for people with disabilities.
They define social innovation as innovation that demonstrates a sustainable business model while addressing a social issue, with a focus on innovation that benefits women, youth, persons with disabilities, and those living in rural regions.
Through challenge financing and targeted coaching, they identify, support, and grow social innovations that may directly and indirectly enhance people’s lives.
The Social Innovation Awards program targets innovators, entrepreneurs, institutions, and social enterprises with prototypes or early-stage firms that may address social concerns in our nation. These goods, services, business strategies, and procedures must directly solve social issues while still establishing a sustainable business strategy.
Prizes vary from R300,000 to R1.3 million and are used to invest in innovation. In addition to the prize money, the winners are evaluated on an individual basis and assigned to a bespoke course with an appropriate business mentor and coach.
The plan is adaptable and tailored to the specific needs of each winner, as mutually agreed upon by the winner, their business coach, and mentor.
Online Application Must Be Completed and Submitted by 19 March 2024 at Midday.