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South Africa: Local Innovations Compete for R1 Million Prize in SAB Foundation Awards
Source: SA - The Good News
Source Date: Thursday, August 28, 2014
Focus: Citizen Engagement
Country: South Africa
Created: Aug 28, 2014

A total of 18 innovations will move through to the final judging phase adjudicated by an independent panel of business and industry experts later this month.
The final winners will be announced at an awards ceremony later this year at the end of October.
“Innovative solutions to economic and social issues in South Africa can be a powerful driving force behind bringing positive change for people within local low-income communities and individuals. Through the Social Innovation Awards, the SAB Foundation is encouraging more individuals to empower themselves as entrepreneurs and in turn empower hundreds of others by providing them with affordable access to resources and services that can improve their lives,” says Bridgit Evans, SAB Foundation Manager.
Evans says there has been a marked increase in the number and quality of innovative solutions presented since the first Social Innovation Awards in 2011. “We are encouraged each year by the rise in the number of individuals wanting to make a concerted contribution to South Africa’s social challenges and we are proud to be a part of helping them build onto their dreams for others.”
Since its start in 2011, the SAB Foundation has invested in a total of 40 social innovations through a financial commitment of more than R10-million.
Apart from the first place prize of R1-million, the 2nd place winner receives an investment of R500 000 and 3rd place, R300 000. Additionally, several seed grants of between R100 000 and R150 000 will be awarded to other deserving innovations finalists.
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