The Transformational Business Awards are open to all financial and non-financial private sector organisations. The focus is on specific projects and transactions and the impact those initiatives have or promise to have on the problems they are targeting.
While the focus of all categories is on transformational impact in developing economies, the awards are also open to projects that address similar market deficiencies in the developed world and that could be replicated in severely under-supplied regions.
The aim is to recognise, showcase and reward innovation, impact, replicability, financial viability and sustainability across a number of key development sectors. Special attention will be given to initiatives that address climate change, and/or harness disruptive technologies and business models to achieve their goals.
Projects or transactions must have passed the implementation stage, and should result in measurable impact. They must be financially viable now or potentially within five years of implementation. Only initiatives that have been implemented since 2010 or later will be eligible.
Achievement in Transformational Infrastructure
The award for Achievement in Transformational Infrastructure highlights projects – in both urban and non-urban contexts -- that address the most crucial infrastructure needs in developing economies, with long-term socio-economic impact. Special attention will be given to initiatives that are environmentally conscious and help efforts to fight climate change. Land governance will also be taken into account. This category is open to private sector businesses only.
Achievement in Transformational Finance
The award for Achievement in Transformational Finance recognises innovative financing structures, products or services – particularly those generated by institutional investors and other large owners of capital -- that support initiatives with substantial social, environmental and corporate governance value and the potential to transform lives in developing economies. This category is open to all private sector financial participants.
Achievement in Sustainable Development
In September 2015, members of the United Nations adopted 17 Sustainable Development Goals (SDGs) designed to achieve by 2030 the eradication of poverty in all its forms, as well as protect the planet from degradation, and generally ensure that all human beings can enjoy prosperous and fulfilling lives. Initiatives that address the challenges highlighted by the SDGs are recognised in the Achievement in Sustainable Development category, which focuses each year on different goals or targets. This category is open to all financial and non-financial private sector organisations, as well as NGOs that meet the judging criteria.
For 2017, this category comprises three separate awards:
Food, Water and Land
This award relates to Goal 2 “End hunger, achieve food security and improved nutrition and promote sustainable agriculture”, and Goal 6: “Ensure availability and sustainable management of water and sanitation for all”, with an additional emphasis on access to land, land tenure rights, land management, and land governance – all critical for the achievement of both food and water security.
Health, Wellness and Disease Prevention
This award relates to Goal 3: “Ensure healthy lives and promote well-being for all at all ages”. Although significant strides have been made in increasing life expectancy in developing economies, much more needs to be done to reduce the mortality rate, particularly among mothers and infants; improve the delivery of medicines, healthcare and health education; reduce the impact of a wide range of diseases; and rapidly address new and emerging health issues. Special attention will be given to innovative, replicable business models that improve the quality and cost-effectiveness of healthcare delivery.
Education, Knowledge and Skills
This award relates to Goal 4: “Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all”, with an additional emphasis on the provision of skills-based training that will help young people gain employment and entrepreneurs secure their livelihoods, in line with Goal 8: “Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.”
Excellence in Disruptive Technologies
This award will recognise the short-listed initiative that stands apart across all private sector categories for its ground-breaking use of new technology and the strength of its disruptive approach to markets and business models.
Excellence in Climate Solutions
This award will recognise the short-listed entry that across all private sector categories most effectively addresses one or more of the effects of climate change in the context of a developing economy, or that can be replicated in a developing economy.
Excellence in Transformational Business
This prize will be awarded to the initiative that in the opinion of the judging panel stands apart among the winners of all private sector categories for its level of innovation, impact, replicability, financial viability and sustainability in the context of a developing economy.
Special Public Sector Category
Achievement in City-led Transformation
The Award for Achievement in City-led Transformation, supported by the Cities Alliance, recognises those cities that, since 2010 or later, have demonstrated tangible progress towards city-wide, integrated reforms across one or more of the following five parameters:
Environmental – integrates planning and management of natural resources, with positive impacts on climate change mitigation and adaptation strategies; integrates disaster risk preparedness improving resilience of most affected populations;
Social – demonstrates progress to promote an inclusive city that integrates gender equality, citizen participation with mutual rights and responsibilities;
Governance – demonstrates progress in promoting an enabling environment for inclusive planning, responsive administration, stable municipal finance within a culture of transparency and accountability;
Economic – facilitates enabling environment addressing both formal and informal economic activities that improve livelihoods, and promotes long-term, equitable and sustainable economic growth; and
Services – demonstrates progress in the citywide provision of and access to basic services such as housing, food, water, sanitation, energy, health and education.
This award is open to city governments only. Private sector organisations are not eligible to participate.
The winners in each category will be announced at a special dinner in London on 8 June 2017. The dinner will be preceded by the FT/IFC Transformational Business Conference, a major gathering of thought leaders who will explore and debate the issues generated by the Awards.