The SAB Foundation supports and invests in entrepreneurs and social innovation with a priority in benefitting women and youth, people in rural areas and people with disabilities.
The awards are open to entrepreneurs that have an innovative solution that tackles social issues faced by underserved communities, or enhances economic access and empowerment for persons with disabilities.
About the Program
Our Social Innovation Awards programme is aimed at innovators, entrepreneurs, institutions and social enterprises with prototypes or early-stage businesses that can solve social issues in our country. These products, services, business models and processes should directly address social challenges while simultaneously creating a sustainable business model.
The programme is flexible and is adjusted to the needs of each winner, as mutually agreed upon by both the winner, their business coach and their mentor.
Organization Name: SAB Foundation
Eligible Country: South Africans
Category: Grants, Training
Closing Date: 19 March 2024
Eligibility Criteria
- If you have previously received assistance from the SAB Foundation through the Tholoana Enterprise Programme, you are not eligible to apply.
- The SAB Foundation Social Innovation and Disability Empowerment Awards are open to any innovation solution that offers a credible prospect of meeting a demonstrable social and/ or economic need evidenced by the SAB Foundation’s target low-income beneficiary groups (with a particular emphasis on innovation that benefits women, youth, people with disabilities and those in rural areas), as well as demonstrating potential as a sustainable businesses.
- Entries are welcomed from South African individuals, innovators, entrepreneurs, social enterprises and university departments. Entrants may enter as individuals on their own, or as members of a team, in which case one individual team leader shall complete the online application form.
- The innovation entered must be the original work of the applicant and a true innovation and/or a significant improvement on an existing technology, product, service, and production method or business model.
- Product innovation covers innovations in both goods and services, which can be divided into new or improved products. A new product has different characteristics and intended uses than existing products. It may use new technologies, knowledge and products or a combination of these. An improved product is an existing product whose performance is significantly increased; in terms of either increased output or a reduction in cost.
- Process innovation is the adaption or creation of improved ways to deliver a product or service. It could come from changes in knowledge, perception and understanding. For poverty reduction, process innovations can increase the level of service delivery to beneficiaries, or enable practitioners to reach previously untouched groups or individuals.
- Applications are open to all South African citizens, 18 years or older. All participants must submit a certified copy of their South African Identity Document with their online applications.
- The innovation/solution must have progressed past the “blue-sky” thinking stage: there must be some evidence of investment by the applicant. This means that applicants must be able to show proof that prior to applying, they have spent time and/or money developing the innovation: planning, developing and testing prototypes, market and industry research, developing a business plan.
- Please see the “Participation Rules” on the online application forms for Terms and Conditions
Programme Benefits
- Prizes range from R300 000 to R1.3 million in funding
- Each award winner will receive valuable business skills development, coaching, mentorship, and technical support.
How to Apply
Eligible candidate that meets the requirement should check the official announcement page for more details about this program.
Click Now to Apply