Foundation stakes $150000 prize for African innovators ….1350 entries received from 48 countries

To encourage new generation innovators from African descent, the African Innovation Foundation through its pet project Innovation Prize for Africa (IPA) has mobilised African innovators by providing the sum of $150000 to winners who deliver market-oriented solutions for African-led development.
However, the organisers of the initiative has extended the deadline for the IPA 2014 applications to 30 November 2013.
The IPA is. An initiative that mobilises Africa innovators and entrepreneurs who deliver market-oriented solutions that increase efficiency or cost-saving in Africa.
Speaking at the IPA innovation round table held in Lagos yesterday, IPA Programme Director, Pauline Mujawamariya said ‘Africa has experienced one of the fastest economic growths in recent history, 6per cent on average. Innovation has and will continue to play a vital role in this growth, and with this in mind, the IPA is continuing its work to identify innovators who are contributing to African sustainable development and creative solutions to the continent ‘s everyday challenges.”
According to Mujawamariya, who highlighted the need to invest in innovation to accelerate economic growth on the continent, “the extension is a response to the request received from many countries indicating that their innovators learned about the competition a little late and would need more time to effectively prepare and submit their entries. To date, IPA has attracted more than 1350 applications from 48 countries. The IPA is focused on promoting African home-grown innovation, scaling them up with Africa to fuel change and overhaul development for Africa and it’s people and compete on global platforms,” she added.
The 2014 IPA prize will focus on agriculture and business, environment, energy and water, health and wellbeing, information Communication Technology and manufacturing and service industry, the organisers disclosed.
Only innovations by Africans for Africans are eligible to enter for the IPA 2014. Mujawamariya stated that Africans in the Diaspora can also apply if their innovations are of significance to Africa. The winning innovation according to her will be awarded a cash prize of $100000 USD, with the two runners up each receiving $25000.

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