Three African startups are to win a combined amount of US$150,000 in the fifth edition of the Innovation prize for Africa organized by the African Innovation Foundation.
The 2016 edition of the competition is tagged ‘’Made in Africa’’, and aims to reward the most innovative startups in; science and technology; environment and energy; agric-business; health and well-being, ICT, as well as manufacturing and service industry.
According to a Techmoran report, the $150,000 prize will be split among the best three innovators. The first prize winner will receive US$100,000 while the second prize of US$25,000 will go to the innovation with the best social impact and US$25,000 to one that has the biggest potential to be transformed into a sustainable, commercial success. An additional add on of US$5 000 will be given to all participants.
Jean-Claude Bastos de Morais, AIF Founding Board Member said: “Africans are beginning to see the value and merit in investing in home-grown innovation, and we are fiercely proud of African-made products and solutions. For the IPA 2016, the AIF is calling for innovators across the continent to bring forward innovations that will feed the demand and supply needs of African markets, stimulate local enterprise, and put African innovation on the world map”
Application closes 31st October, 2015. Apply here.
Lanre Odesomi contributed to this post.
Image: KTEditor via Pixabay