Nestlé opens nominations for 2012 Prize in Creating Shared Value
Nestlé today opened nominations for its Prize in Creating Shared Value at the International Food Policy Research Institute (IFPRI) global conference in Delhi, India.
Launched in 2009, the Nestlé Prize in Creating Shared Value offers advice and financial support of up to CHF 500,000 (more than USD 480,000) to an individual, non-government organisation, or small enterprise working in the field of nutrition, water, or rural development.
It is awarded in alternate years to an innovation or project that has shown outstanding promise in improving access to, or management of, water; enhancing the lives of farmers and rural communities; or providing better nourishment to communities suffering from nutritional deficiencies.
The Prize goes beyond Nestlé’s own efforts to create value for its shareholders and for the communities where it operates, by encouraging and rewarding the most innovative examples of Creating Shared Value in action.
To ensure long-term success, the Prize Laureate is supported by a financial commitment over a period of time to assist in the development of their project or innovation. Applicants can either self-nominate or be nominated by others who are familiar with their work.
Helio Waszyk, Head of Nestlé’s South Asia Region, opened the call for nominations in Delhi. He said: “I am delighted to open nominations for Nestlé’s Prize in Creating Shared Value within the framework of the IFPRI conference. This important global event brings to the fore some of the important development challenges that the Prize plays a part in addressing.”
He was joined by the winner of the 2010 Nestlé Prize in Creating Shared Value - International Development Enterprises (IDE) Cambodia - which was selected from more than 500 applicants from 79 countries.
The not-for-profit organisation was awarded for its ‘Farm Business Advisors’ project - a market-based approach to increasing the net income of smallholder farmers through a network of more than 60 independent rural entrepreneurs, who provide technical advice while selling products such as high-quality seeds and irrigation equipment.
Now, IDE Cambodia is using the Prize investment to recruit and train an additional 36 advisors - providing them with access to agricultural training, market information and microfinance - as well as developing and strengthening its franchise system.
With this support, the organisation aims to generate around USD 1.9 million in new income for small-scale farmers, and benefit around 20,000 people in more than 4,000 rural households across the country.
Director Michael Roberts explained how the Prize is benefiting the organisation, and offered an insight to this year’s prospective applicants.
He said: “The concept of Creating Shared Value is something that both non-profits and for-profits can identify with. The financial investment and the recognition of the Nestlé Prize has helped our project gain momentum in Cambodia and allowed us to explore opportunities for expanding to other countries. If anyone has an innovation or project that meets the Prize criteria, I would strongly encourage them to apply"
Nestlé Prize in Creating Shared Value
The Nestlé CSV Prize Laureate is selected by the Company’s CSV Advisory Board, an independent panel of internationally-recognised experts in corporate strategy, nutrition, water and rural development.
While applicants may be based anywhere in the world, their initiative must be implemented in a developing country and backed by a sustainable business model. It should have already achieved small scale success, and must be judged feasible on a broader level, or in other communities.
The nomination period closes on 30 June 2011. The recipient will be announced in 2012.
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