“With 2000 innovators from 48 countries entering in its first three years; IPA 2015 takes investment in unleashing and supporting sustainable African led innovation past half a million USD.”

JOHANNESBURG, SOUTH AFRICA, 1 August 2014 –The African Innovation Foundation (AIF) is calling on all African innovators to submit their entries for the fourth edition of the Innovation Prize for Africa (IPA) competition. The IPA is presented annually, enabling and encouraging African pioneers to develop creative ideas and techniques to overcome some of the challenges faced by the continent and support sustainable development.

“At the African Innovation Foundation we are passionate about Africa and its potential, that we firmly believe will be led by empowering a new generation of African innovators and entrepreneurs.  But we also recognise that this new generation needs the resources and the opportunities to realise their ambition,” said AIF and IPA founder Jean-Claude Bastos de Morais.  “ IPA provides a platform to encourage and harness these entrepreneurial skills in order to help improve the lives of Africans and to help realise untapped potential. The prize is also a great way of unleashing creativity and promoting growth within the African continent.”

The IPA is becoming integral to facilitating ground-breaking thinking, creativity and driving awareness to the outstanding work being done in Africa by Africans. IPA 2013 winner, AgriProtein went on to raise $11 million to build its first two commercial farms in Cape Town.

“Africa needs meaningful investment to alleviate poverty and provide inclusive prosperity. To achieve this, we need to be able to provide environments that promote quality investment for the people and reduce risks. Forums like the IPA are necessary to make the most of the continent's investment," said AgriProtein spokesperson, David Drew.

All innovations are evaluated based on the following criteria: originality, marketability, scalability, social impact and Scientific/technical aspects. The best submission will be awarded a grand prize of USD 100 000.  The second prize of USD 25 000 will be awarded to an innovator with an innovation which has the best commercial and business potential. An additional award is a special prize granted to the innovator whose innovation has the best social impact in the community.

The IPA encourages entries in five key categories: Agriculture and Agribusiness, Environment, Energy and Water, Health and Wellbeing, ICT applications, and Manufacturing and Services Industries.

Recognising home grown innovative ingenuity, the prize contributes to increased funding of start-ups, adoption of new and emerging technologies and accelerated growth of the private sector.   With ever changing economic and social environments, it is critical that proposed solutions tackle issues affecting African lives, and that they are effective and are different from the existing ones.  

IPA 2014 named Dr Nicolaas Duneas and Mr Nuno Pires from South Africa the winners of the grand Prize and received USD 100’000 for their Altis Osteogenic Bone Matrix (Altis OBM TM), the first injectable porcine derived BMP medical device in the world — an innovative product for the treatment of bone injuries and voids through the use of a regenerative biological implant.

The IPA also beckons all investors, governments and other stakeholders interested in evaluating, investing and maximising the continent’s resources to participate in this innovative and empowering initiative and make a significant change through generous contributions that will accelerate the Africa’s economic growth.

The deadline for submitting applications for IPA 2015 is 31 October 2014 at 24h00 GMT. For moreinformation on competition categories, conditions of entry, and submission details, please visit:http://innovationprizeforafrica.org/.

About IPA

The Innovation Prize for Africa (IPA) is an award founded by the African Innovation Foundation. It mobilizes African innovators and entrepreneurs by providing a total of USD 150 000 to winners who deliver market-oriented solutions for African-led development. The IPA honours and encourages innovative achievements that contribute toward developing new products, increasing efficiency or cost savings in Africa. The prize also encourages private equity investors, government and development leaders to invest across sectors and build a climate that fuels Africa’s economic growth.  For more information and additional media background go to www.innovationprizeforafrica.org , and follow the IPA on Twitter and Facebook.

About AIF

The African Innovation Foundation (AIF) is a new model of 'next generation' African foundations, mobilising innovation across the continent for the personal, cultural and economic benefit of all Africans. AIF’s projects are aimed at releasing untapped potential in Africa, stimulating African ideas & perspectives within emerging industries and across diverse disciplines.  For more information visithttp://www.africaninnovation.org/

Contacts

Janine Raftopoulos, Burson-Marsteller

Phone: +27 11 480 8525

Email: Janine.raftopoulos@bm-africa.com

Pauline Mujawamariya, AIF 

Phone: + 41 44 515 5466 

Email: ipainfo@africaninnovation.org