"The purpose of these awards is to recognise the growth that the entrepreneur has achieved for their business and the potential of significant scalability through leveraging the Endeavor network. FNB understands that outside of financial considerations, businesses should be recognised and given access to expert guidance and global mentorship in order to achieve their goals," said Michael Vacy-Lyle, CEO of FNB Business.
Facilitated by Endeavor South Africa, the selection criteria of the awards will focus on businesses that are able to meet the following key areas:
Factors such as brand and reputation, stakeholder relations and good will, environmental sustainability, social responsibility, and quality of governance are all taken into account.
Board member of Endeavor South Africa, Paul Harris, said: "The current state of the global economy attests to the need for unique approaches to conducting business. Companies that will succeed under the current economic conditions are ones that prioritise innovation. I firmly believe that Endeavor and the recognition that the FNB Business Innovation Awards bring will provide an excellent platform for high-impact businesses to accelerate their success."
The winner of the FNB Business Innovation Awards will get an opportunity to participate in the three-day Endeavor International Selection Panel (ISP), which brings together high-impact entrepreneurs to have their business evaluated by world-class business leaders and for the opportunity to become part of an exclusive global network.
Vacy-Lyle added: "The FNB Business Innovation Awards are an extension of the bank's commitment to addressing modern business and economic challenges. We challenge established businesses to enter the awards to inspire them to think bigger."
The entries for the FNB Business Innovation Awards open on 1 October, 2014.Entries can be submitted online at www.fnbbusinessinnovationawards.co.za The closing date for entries is 12 December and the inaugural winner will be announced in May 2015.
