SAB Social Innovation grants available

THE SAB Foundation has called on anyone who has developed a product or service with a demonstrable social impact to apply to its annual social innovation programme, which carries a first place award of R1.2 million.

SAB said more than R17m had been invested in 63 entrepreneurs and their innovations under the programme, which was launched in 2011.

Applications for this year’s programme open next week.

Previous award winners have impacted positively on housing, health care, smallholder farming techniques, education, medical diagnostics, waste disposal, township security, fire prevention and support for people with disabilities, to name but a few.

This winning group has seen turnover increase by 61 percent and jobs growth of 62.5 percent.

The SAB Foundation Social Innovation Awards offers a first place grant of R1.2m, a second place grant of R600 000, and R400 000 for third place, as well as business development support and mentoring.

In addition, several developmental awards are made for stand-out social innovations.

As well as a significant cash investment, the SAB Foundation offers winning entrepreneurs business development and growth support.

Entrepreneurs will each be offered a personal mentor.

SAB Foundation manager Bridgit Evans said: “We are looking to reward and develop original thinkers who share the same vision as the SAB Foundation to help build local economies and make a sustainable impact in the lives of people who need it the most.”

The SAB Foundation was established as a beneficiary of SAB’s Broad-Based Black Economic Empowerment transaction, SAB Zenzele.

It is an independent trust for the benefit of entrepreneurial development. Applications, which close on May 31, must be completed at www.sabfoundation.co.za. – ANA