The United Nations Economic Commission for Africa (ECA) and the African Innovation Foundation (AIF) are delighted to announce the first 2012 Innovation Prize for Africa (IPA). This annual prize honours and encourages innovative achievements that contribute toward developing new products, increasing efficiency or saving cost in Africa.
IPA acknowledges and encourages innovators and entrepreneurs in their endeavours, since they are one group of stakeholders that have not been considered under Africa's development cooperation agenda.
The aims are to:
· Create platform for identification of innovative concepts and projects submitted by applicants that could be supported by IPA;
· Promote innovation across Africa in key sectors of interest through the competition;
· Promote science, technology and engineering as rewarding, exciting and noble career options among the youth in Africa by profiling successful applicants; and
· Encourage entrepreneurs, innovators, funding bodies and business development service providers to exchange ideas and explore innovative business opportunities.
In addition, the IPA is expected to yield the following outcomes:
Increased commercialization of research and development (R&D) outputs in Africa
Increased development of start-up, adoption of new and emerging technologies and accelerate growth of an innovative and dynamic private sector; and
Increased economic activity and development that results in long term sustainability.
The prize is expected to promote among young African men and women the pursuit of science, technology and engineering careers and business applications.
IPA acknowledges and encourages innovators and entrepreneurs in their endeavours, since they are one group of stakeholders that have not been considered under Africa's development cooperation agenda. The 2012 IPA will consist of two awards given to the two selected innovators/entrepreneurs in the following three thematic areas: ICTs; Green technology (energy and water); Health & Food security (including Agriculture). The first prize will be USD100,000 for the selected best innovators/entrepreneurs, and the second Prize will be USD50,000 for the second selected innovators/entrepreneurs. IPA is an annual event and will be carried over during 5-year period, targeting innovators/entrepreneurs in various thematic areas, to be determined by the IPA Technical Advisory committee each year.
