WALLDORF, Germany, Nov. 12, 2012 /PRNewswire/ -- SAP NEWSBYTE -- SAP AG (NYSE: SAP) today announced the four winners of the global entrepreneurship competition "The Power of Small: Entrepreneurs Strengthening Local Economies." They were selected for their excellence in helping emerging entrepreneurs and small businesses in underserved communities grow and thrive. Each organization will receive US$10,000, a technology donation and promotion and networking opportunities with SAP executives and customers at SAPPHIRE® NOW + SAP® TechEd, being held as a co-located event in Madrid from November 13-16 2012.
The winners are:
- Adel – Agência Desenvolvimento Econômico Local, Brazil: Adel, a local development agency, is building a Youth Entrepreneurship Training Center that provides practical training such as efficient farming techniques and business management to young people and supports them with the development of innovative business models. To provideyoung entrepreneurs with financial support, Adel has launched the Verdera Fund and is designing a crowd sourcing model.
- MFA – The Microfranchise Accelerator by The Clothing Bank (TCB) in partnership with the Business Place Philippi (TBPP), South Africa: MFA catalyzes and grows a portfolio of franchise opportunities to empower self-employed low-income people to build commercially viable microfranchise businesses. MFA acts as a bridge between franchisors and franchisees and supports the franchisees for two years to hrlp ensure that they get the support ecosystem they need to reach sustainability.
- MySoft by Dossier Digital, Brazil: MySoft develops and distributes apps for small service providers, thus promoting the digital inclusion of small businesses. The apps are developed by young people from underserved communities who are organized in professional cooperative networks. This allows them to generate an income for themselves as software developers.
- Wennovation Hub by LoftyInc Allied Partners Limited, Nigeria: The Wennovation Hub is a startup business accelerator with a focus on incubating high-impact startup growth businesses. The Wennovation Hub mobilizes its internal and external network to seed and fund businesses emerging from the platform, and gets entrepreneurs from ideas to funding within six months. The crucial distinction in the hub's incubation model is that participants come singly with their various ideas for high-impact entrepreneurship and leave in groups of businesses.
"SAP is committed to helping the world run better and improving people lives by supporting entrepreneurs and small businesses to innovate, grow and realize their full potential," said Eric Duffaut, president, Global Ecosystem & Channels, SAP AG, and a member of the judge's panel. "The four winners of our 'Power of Small' competition have innovative strategies that demonstrate measurable social and sustainable impact."
Earlier this year, SAP partnered on the initiative with Ashoka Changemakers, a global community that explores, refines and funds social entrepreneurs' innovative solutions to the world's most pressing social problems. Among the 370 total entries from over 69 countries, 11 finalists were selected by a panel of judges and the Changemakers community voted online to select the winners.
"Entrepreneurship and the creation of local economic opportunities are foundational to social and environmental progress worldwide. We've been thrilled to explore the business and entrepreneurship incubation space with a global company so instrumental to operational efficiency gains and smart growth like SAP," said Tim Scheu, senior change manager, Ashoka Changemakers, which has helped launch and supported over 3,000 leading social entrepreneurs as Ashoka Fellows.
For more information about the "Power of Small" competition, visit www.changemakers.com/powerofsmall. During SAPPHIRE NOW + SAP TechEd Madrid, visit SAP Corporate Social Responsibility onsite in hall 10 and learn more about the competition and winners.
SOURCE SAP AG