FNB Business Innovation Awards launches

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"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:

• Development impact: Exhibit high-growth potential and the capacity to add substantial economic as well as strong potential to create a number of high-value jobs;
  
• Business innovation: Demonstrate real innovation that has the potential to change the way an industry operates locally and/or internationally;
  
• Fit with FNB and Endeavor: Be interested in accepting advice and support from FNB and Endeavor as well as contributing to the Endeavor network.

Factors such as brand and reputation, stakeholder relations and goodwill, environmental sustainability, social responsibility, and quality of governance are all taken into account.

Board member of Endeavor South Africa, Paul Harris, says, "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). The ISP 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 adds, "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 via the website www.fnbbusinessinnovationawards.co.za. The closing date for entries is 12 December 2014 and the inaugural winner will be announced in May 2015.