Tshwane: Tuesday, 29 July 2014
The African Innovation Foundation (AIF) has partnered with The Innovation Hub, a subsidiary of the Gauteng Growth and Development Agency (GGDA), to push the envelope further in unearthing and supporting the commercialisation of innovative and entrepreneurial talent on the African continent through its flagship programme Innovation Prize for Africa (IPA).
Started in 2011, the IPA honours and encourages innovative achievements that contribute toward developing new products, increasing efficiency or saving cost in Africa. Entrepreneurs with innovations in manufacturing and service industry, health and well-being, agriculture and agribusiness, environment, energy and water and ICTs, are eligible to compete for total prize money of USD150,000 and non-financial support offered by IPA partners such as The Innovation Hub.
With a focus on unearthing market-oriented solutions for African-led development, the IPA acknowledges and encourages the endeavor of innovators and entrepreneurs and works to raise their profiles on the development agenda. The first prize of USD100,000 is awarded to the best innovation based on marketability, originality, scalability, social impact, scientific/technical aspect and clear business potential. The second prize of USD 25,000 is then given to innovation with the best commercial/business potential, with the special prize for social impact of USD 25,000 being given to innovation with the highest social impact in the community/country.
The 2013/14 first prize winner announced in a Gala Dinner held in Abuja in May 2014 went to South African start-up Altis Biologics, based at The Innovation Hub, for their healthcare innovation Altis OBM, a bone regeneration medical device. The second prize went to Togo based Logou Minsob for his FoufouMix machine innovation which is a first in Togo’s manufacturing industry and other countries where Foufou is eaten. The Social Impact prize was won by Ethiopian Dr Melesse Tenegen for Aybar BBM which is set to transform the agriculture industry. The IPA increases exposure for the winners and opens more doors for funding and other opportunities that will result in perceptible growth.
The Innovation Hub is Africa’s first accredited science and technology park that is recognized as a central region for innovation and knowledge creation in Gauteng which promotes economic growth and competitiveness in order to better the lives of the community. Over the past few years, The Innovation Hub has strengthened the innovation eco-system and has established relationships with several science parks and incubators across the African continent. It is equipped to champion this partnership to ensure that the quality of entries is of a high standard and more countries are able to participate in the awards which will promote diversity in the entries.
“Through the Innovation Prize for Africa (IPA), we are able to mobilize African stakeholders to support home grown innovations. We continuously look to forge strategic partnerships with leading organizations in order to achieve better results and wider impact. We believe that an innovation ecosystem and value system are the next steps in creating a sustainable environment for African-led ideas and solutions to be at the forefront of development across the continent as well as globally. We are therefore pleased to collaborate with the Innovation Hub, whose expertise and know how will help take African innovation to the next level" –Jean Claude Bastos de Morais, AIF/IPA Founder
“The Innovation Hub has established collaborations with various science parks, higher education institutions, incubators and governments within the SADC regions as well as other parts of Africa. Our partnership with the AIF to further develop the IPA ties into our vision to be an agency of choice to foster socio-economic development and competitiveness on the African continent” – Mr McLean Sibanda, CEO of The Innovation Hub
Entries for this year’s competition open on 1st August 2014 and will close on 31st October 2014. Further information can be accessed from http://innovationprizeforafrica.org/
For The Innovation Hub:
Tanyani Daku (Office of the CEO)
Call: (012) 844 0076 / 081 722 7610
Follow us on Twitter: @Innovhub
Find us on Facebook: InnovhubZA
For AIF/Innovation Prize for Africa:
+41 44 515 5466
Facebook: Innovation Prize for Africa (IPA)