The FNB Business INNOVATION Awards selection criteria, facilitated by Endeavor South Africa, are based on their entrepreneur selection model for scale-ups.
Business must have a minimum annual turnover of R10-million.
The business is scaleable, in other words it has the potential to grow and become a market leader.
Scale and acceleration:
Businesses need to meet the following criteria:
It cannot easily be replicated. It is not a “me-too business”, such as a consultancy or agency.
Business at a key inflection point in growth trajectory.
Factors such as brand and reputation, stakeholder relations and goodwill, environmental sustainability, social responsibility and quality of governance are all taken into account.
Note that businesses with a turnover between R8-million and R10-million will be reviewed on a case-by-case basis.