Aug. 5, 2009 -- Nestlé, the world's foremost nutrition, health and wellness company, will recognize local efforts to practice its Creating Shared Value principle through a new award. Individuals, NGOs, or small enterprises that offer innovative solutions to improve nutritional deficiencies, access to clean water, or progress in rural development are eligible to expand their impact with an investment of up to CHF 500,000 (465,000 USD).
Overview of Nestlé Prize in Creating Shared Value:
This biennial award is designed to encourage innovative ideas that make a positive impact in the areas of water, nutrition or rural development by an individual, non-governmental organization (NGO), or small business. The winner will receive an investment of up to CHF 500,000 (465,000 USD) for a specified period of time to assist in the development and scale-up of the innovation.
Nominees must have proven the innovation on a small-scale, ensure it is applicable on a broader scale, and demonstrate a high promise of improving rural development, nutrition, access to clean water, or having a significant impact on water management.
The nomination process is open from now until October 31, 2009 and the winner will be announced at the next Nestlé Forum on Creating Shared Value in April 2010.
The Nestlé Prize Screening Committee will judge the entries and select five finalists. The Advisory Board on Creating Shared Value will choose a winner.