The United Nations Economic Commission for Africa (ECA) and the African Innovation Foundation (AIF) announced the establishment of the African Innovation Prize worth USD 100,000 for the winner and USD 50,000 for the runner-up.

The prize will be presented for the first time on 26 March 2012 in Addis Ababa, Ethiopia on the sidelines of a Conference of African Finance Ministers will be meeting in Addis Ababa, Ethiopia later this month to discuss the actions needed to turn Africa into a New Growth Pole for the global economy.
The annual award is designed to promote the pursuit of science, technology and engineering careers among young African men and women and especially to develop innovative solutions with a great potential for commercialisation.

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