(open to companies or individuals)

 The Innovation Award recognises groundbreaking use of technology, including social media, virtual reality, blockchain or artificial intelligence to enhance productivity and offer tangible improvements for customers, clients and businesses. This award underscores the pivotal role of innovation in fostering economic transformation. The award celebrates a company or individual that delivered innovative solutions or services to meet both new and existing market needs.

Criteria

Nominees must provide proof of innovativeness in the following areas:

• Originality: Describe the uniqueness of the product and its superiority in comparison with similar or alternative products in the market. This includes incremental and radical innovations.
• Be innovative or be a new invention (within the last 3 years)
• Marketability: Show the extent to which the innovation sufficiently addresses the problem it seeks to solve at a cost or model that is accessible to the target market and can generate profits or is self-sustainable
• Scalability: Describe the extent to which the solution can be easily applied to other similar markets beyond the applicant’s immediate or local environment
• Social Impact: The ability of the innovation to create or effect positive and desirable benefit beyond profit within the target community and other stakeholders
• Technical Aspects: The technical specifications of the innovation are grounded on established science and sufficiently address anticipated product risk.

There may be up to three finalists for this category, with one emerging as the Innovation award winner.