Nestlé opens nominations for 2012 Prize in Creating Shared Value

• Over LKR 55 Million will be awarded as financial support to individuals and organizations working in the fields of Nutrition, Water and Rural Development

Nestlé set the ball rolling last week for the 2012 Global award for Creating Shared Value. Announcing the call for entries at the International Food Policy Research Institute (IFPRI) global conference on ‘Leveraging Agriculture for Improving Nutrition and Health’ in Delhi, India, Mr. Antonio Helio Waszyk, Chairman of Nestlé Lanka PLC and Head of Nestlé South Asia Region stated “Nestlé’s basic approach to business is to Create Shared Value for its shareholders and the communities where it operates. This prize however goes beyond Nestlé’s own efforts. It encourages and rewards the most innovative examples of Creating Shared Value in action. I am delighted to announce the opening of global nominations for the 2012 Nestlé prize in Creating Shared Value at this important global event of IFPRI, especially because some of the important development challenges that are brought to the fore by IFPRI are also addressed by this prize”.

The Nestlé Prize in Creating Shared Value 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 was launched in 2009  and  offers advice and financial support of up to CHF 500,000 (more than USD 480,000 or LKR 55 million) to an individual, non-government organisation, or small enterprise working in the field of nutrition, water, or rural development. 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.

The very first Nestlé Prize in Creating Shared Value was awarded in 2010 to 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. Their project followed   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.

Michael Roberts, Director of IDE Cambodia, who was present at the announcement, explained how the Prize is benefiting his organisation and offered some insights 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 this 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.”

IDE Cambodia is investing the Prize 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.

Selection Process for Nestlé Prize in Creating Shared Value

The Nestlé CSV Prize Laureate is selected by the CSV Advisory Board which consists of independent and internationally-recognised experts in corporate strategy, nutrition, water and rural development. The project should already have achieved small scale success and must be considered feasible on a broader level, or in other communities. 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.

The nomination period closes on 30 June 2011. The recipient will be announced in 2012.

 

For more information and how to apply, visit http://www.nestle.com/CSV/CreatingSharedValueAtNestle/NestlePrize/Pages/NestlePrize.aspx