Blog » Investing in Africa's Ingenuity- The Innovation Prize for Africa
The IPA is focused on identifying innovations in five key areas: 1) agriculture and agribusiness; 2) environment, energy and water; 3) health and wellbeing; 4) information & communication technology; and 5) manufacturing and service industry. We are looking for new approaches to tackle everyday challenges with market potential.
The IPA Selection is based on the following Criteria
Marketability: Potential for commercialization and bankability
Originality: Innovativeness, demonstrated creativity and originality of idea
Scalability: Scale and scope and whether a reasonable strategy for moving ahead has been made
Social impact: The socio-economic impacts of the proposed innovation, and how it addresses existing development challenges faced by a community/country or the continent as whole.
Utility/technical aspects: The technological or scientific significance of the innovation in the particular field and beyond.
4 Reasons You Should Apply For the IPA
1. The IPA awards a total of USD 150,000 in three categories: best innovation, the special prize for social impact and the runner-up with the best business potential innovation.
2. You would be recognized for your contribution to your country and the continent: Innovation is critical to sustaining and expanding Africa’s economic growth and your innovation could make a major contribution to sustainable development on the continent. The best way to predict the future is to create it!
3. IPA is beyond giving cash Prize: finalists and winners receive marketing insight, investor connections and other business development resources.
4. IPA winners and finalists receive a great amount of media coverage which positions them nationally and internationally and helps attract more investors and business partners.
The IPA is more than a prize – it is a movement of African innovators/inventors, scientists, entrepreneurs, venture investors and policymakers who believe that the best way to sustain Africa’s current economic growth is to scale up the good ideas that already exist on the continent. Join us if you would like to be an important part of this movement.