SAB Foundation is empowering women, youth, people living in rural areas and people living with disabilities to become entrepreneurs who in turn create a better life for those around them.

The SAB Foundation invests in entrepreneurs and social innovators – with an emphasis on services and products that benefit women, youth, people living in rural areas and persons living with disabilities – who show the potential and commitment to grow their businesses and create jobs.

Set up in 2010 as one element of SAB’s broad-based black economic empowerment transaction, SAB Zenzele, the SAB Foundation is an independent trust that annually invests millions of rands towards developing entrepreneurship in South Africa and ensuring that low-income communities are uplifted.

The SAB Foundation holds 8.4 million SAB Ltd shares through SAB Zenzele and applies the dividend and special dividend income received from these shares for the benefit of the wider South African community.

The objective of the SAB Foundation is as follows: The provision of funding and support for small, medium and micro-sized enterprises, to contribute to the economic and social empowerment of historically disadvantaged persons, primarily (but not necessarily exclusively) by means of entrepreneurship development and with a priority focus on providing opportunities within small, medium and micro-sized enterprises for women, youth, people living in rural areas, as well as persons living with disabilities.

The SAB Foundation Social Innovation Awards

The SAB Foundation Social Innovation Awards was launched in 2011 as part of the SAB Foundation’s primary focus to ignite a culture of entrepreneurship in South Africa. To date, the programme has invested in over 100 entrepreneurs and their innovations.

The competition recognises the work of entrepreneurs who find innovative solutions to challenges facing some of South Africa’s most vulnerable people like women, youth, people living in rural areas and people living with disabilities. It serves as a catalyst for social change in rural communities through its investments in innovative products and services.

We source, support and help these social innovations become scalable – through challenge funding and tailored mentorship – which can directly and indirectly improve quality of life.

We define social innovation as innovation that demonstrates a sustainable business model while solving a social problem, with emphasis on innovation that benefits women, youth, people living in rural areas and people living with disabilities.

Applications for 2017 are currently closed and will re-open in 2018.

STEP BY STEP: How the project works

• Call to Entry via website and media
• Register online and complete your application
• Finalists will be selected to attend a workshop and pitch their innovation presentations to 8 judges.
• The winners will be announced at a special Awards event.
• The whole process takes 5 – 6 months

Ignite Eligibility Criteria

1. Be South African – can be part of a group, organization or individual
2. Present original and innovative work
3. The innovation can be a product or a process
4. Show proof that before applying, they have spent time and/or money developing the innovation

Applications are open to all South African citizens of 18 years or older. All participants (“Entrants”) must submit a certified copy of their South African Identity Document with their online applications.

Please see the “Participation Rules” on the online Application Forms Terms and Conditions for further guidelines.

Applications for 2017 are currently closed and will re-open in 2018.

Source: www.sabentrepreneurship.co.za