The African Innovation Foundation (AIF) has announced the 7th edition of the prestigious Innovation Prize for Africa (IPA) will take place from October 11th – 12th, 2018, at Kigali Convention Center in Rwanda due to its commitment towards building a knowledge-based economy by promoting innovation and entrepreneurship.
According to Honorable Jean de Dieu Rurangirwa, Minister of Information Technology and Communications, “We are delighted to host the Innovation Prize for Africa 2018. We commend AIF’s work to address the continent’s challenges through innovation. IPA’s message cuts across generations and puts forth mindsets that are passionate about the upliftment of Africa. Such an event showcases African ingenuity. We look forward to hosting these brilliant minds.”
Rwanda’s strategic and widespread adoption of ICTs, which has propelled the nation towards socio-economic growth, makes it the ideal host nation for IPA 2018. The Government’s vision for 2020 is to transform Rwanda into a self-reliant, knowledge-based economy, and move its status towards becoming an upper-middle to a high-income country. With an aim to become a leading innovation and technology hub in the continent, Rwanda is a pioneer in deploying Smart City technology to improve the lifestyles and social sustainability of its citizens.
Tech hubs have been playing an important role in Rwanda’s innovation ecosystem, offering enabling environments for young Rwandans with business ideas to innovate. These hubs aim to support a new generation of Rwandese entrepreneurs that will create jobs and contribute to the economy. Moreover, the Government of Rwanda is committed to increasing competition in the continent to foster innovation, spur job creation and promote inclusive economic growth.
“We are delighted to host #IPA2018. We commend @AfrInnovFdn work to address the continent’s challenges through innovation."- Honorable@JRURANGIRWA, Minister of Information Technology and Communications @RwandaICT
— IPA Prize (@IPAprize) May 15, 2018
Commenting on the partnership with the Government of Rwanda, the AIF Chairman of the Board Walter Fust, said, “Recently, Rwanda has emerged as one of Africa’s most innovative economies, topping the ranks as far as science, technology and innovation (STI) capacity is concerned. The government’s goal to attract US$1 billion worth of ICT investments by 2020, backed by major milestones such as the Kigali Innovation City, is a reflection of its commitment towards digital transformation. Rwanda’s efforts to support innovation and promote high-tech sectors such as ICTs and life sciences are truly commendable. We are proud to partner with the Government of Rwanda to host IPA 2018 and look forward to collaborating with Rwandan innovators and innovation enablers in their quest to become an innovation-led knowledge economy.”
AIF has been held in Botswana, Ethiopia, Ghana, Morocco, Nigeria and South Africa to host the Innovation Prize for Africa event. Today, AIF has a network of over 9,400 African innovators across 55 countries and over 400 innovation enablers.
Besides a host of exciting side events and brand new initiatives for Africa by Africans, IPA 2018 will offer the following prizes and incentives to winners and nominees:
- A Grand prize of US$100 000
- Second Prize of US$25 000
- Special Prize for Social Impact US$25 000
- A voucher for each of the seven IPA nominees of US$5 000
- Additional incentives include investment opportunities, training and access to AIF’s vibrant network of innovation enablers, ongoing PR support and media coverage
This year’s theme ‘Investing in Inclusive Innovation Ecosystems’ calls for African governments and innovation stakeholders to invest in building bridges for more inclusive ecosystems that will accelerate and scale African innovation at all levels of society. The aim is to increase access to innovative financing and know-how and to enhance collaboration between African nations to enable local innovators to access higher value markets for their solutions at a faster rate.