The African Innovation Foundation (AIF) has named 10 finalists of its prestigious Innovation Prize for Africa (IPA) 2014, reports NaijaAgroNet.
The 10 African innovators, NaijaAgroNet also reports according a press statement by the African Press Organisation (APO), as having created practical solutions to some of the continent’s most intractable problems, from a domestic waste biogas system to a wafer matrix for paediatric antiretroviral (ARV) drug treatment. Chosen from almost 700 applications from 42 countries, the finalists for the IPA 2014 represent Africans’ potential to address the challenges that are unique to the continent.
The winners of the IPA 2014 will be announced at an awards ceremony on 5 May in Abuja, Nigeria, where keynote speaker, the Honourable Minister Ngozi Okonjo-Iweala, Nigeria’s Minister of finance, will highlight the importance of innovation to unlock Africa’s potential for sustainable development and economic growth.
The winner will receive USD 100 000 for the best innovation based on marketability, originality, scalability, social impact and clear business potential. While a runner up will receive USD 25 000 for the best commercial potential and another winner will receive USD 25 000 as a special prize for innovation with the highest social impact.
Prior to the awards ceremony, a roundtable featuring innovation experts will take place, to address the theme “A Path to Building Industrial Nation Skillsets in Africa.”
Founder, African Innovation Foundation and the IPA, Jean-Claude Bastos de Morais, noted that as global leaders gather for the 2014 World Economic Forum on Africa to discuss approaches to inclusive growth and job creation.
“The IPA 2014 innovators demonstrate that the best way to achieve equitable economic growth for all Africans is to invest in local innovation and entrepreneurship,” Bastos de Morais said.
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