Competition for social innovators

These products and processes should directly address the challenges faced by low-income women, youth, people living with disabilities, and people living in rural areas.

The SAB Foundation Social Innovation Awards 2014 offers a first place grant of R1m, a second place grant of R500 000 and third place R350 000.

In addition, several seed grants are awarded to deserving and stand-out innovations.

The Social Innovation Awards was launched in 2011 as part of the SAB Foundation's primary focus to ignite a culture of entrepreneurship in South Africa.

Business grant awards are provided to help upscale and commercialise the innovative solution, a process which is supported by the SAB Foundation over a period of two years or longer, as needed.

The size of the grant is designed to allow for substantive progress to be made by the winners.

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.

The winners will be announced during an awards ceremony later this year.