Pioneers of Prosperity

The Pioneers of Prosperity Awards Program seeks to identify companies in emerging markets who can be enterprise role models for aspiring business leaders from around the world.

The program is now seeking applications from dynamic companies in Africa, Central America and the Caribbean.  Winners will be chosen based on their ability to:

• Create unique value for customers through innovative  products and/or services.
• Generate a sustainable profit for owners/shareholders commensurate with the risks taken by investing in them.
• Invest in their employees through training, safe working conditions, and high and rising salaries.
• Protect the future by strengthening local and global environments and communities.

Please see Geographic Focus and Eligibility Requirements for current contest rules.

Africa

Eligible companies must be based in Botswana, Cameroon, Cote d'Ivoire, Ghana, Kenya, Namibia, Nigeria, Rwanda, South Africa, and Uganda, and:

• Should be a for-profit company
• Should be located in one of the 10 countries competing in PoP 2008
• Should have been in existence for at least 3 years
• Should have annual revenues equal to or below $25 million

Caribbean

Eligible companies must be based in The Bahamas, Barbados, Belize, Guyana, Haiti, Jamaica, or Trinidad & Tobago and: 

• Employ 5 or more full time staff
• Earn $ US 500,000 - $ US 5,000,000 in revenues per year
• Be a for-profit entity
• Have been profitable for more than 4 quarters in a row
• Receive some type of outside funding (e.g. from financial institutions)
• Not rely solely on donor financing 

Central America

Eligible companies must be based in Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua or Panama, and:

• Employ more than 5 full time staff
• Earn $ US 500,000 - $ US 15,000,000 in revenues per year
• Be a for-profit entity
• Have been profitable for more than 4 quarters in a row
• Receive some type of outside funding (e.g. from financial institutions)  
• Not rely solely on donor financing

Note:  these are the basic minimum eligibility requirements. Companies meeting these requirements understand that they may not necessarily proceed to the next round to the competition.

Overview

A shortlist of ten enterprise finalists will be selected annually from each region based on the company's ability to meet the award's selection criteria with distinction. Six outstanding winners will be awarded a finalist grant of up to (U.S.) $100,000 at a yearly awards ceremony in a location within the target region.

Round 1

Applicants complete the first round of an application survey, which focuses on applicants' sustainable contribution to their primary stakeholders: customers, owners, workers and future generations. 

A shortlist of quarter-finalists is selected within four weeks based on their responses in the application.

Round 2

Quarter-finalists are asked to provide supplementary information gathered in a second in-depth survey.

A shortlist of 30 semi-finalists are selected within four weeks based on their responses in the in-depth survey.

Round 3

Semi-finalists participate in in-depth phone interviews with OTF Staff, and will be asked to provide financial materials.  

All data is then used by the Pioneers of Prosperity team to identify 10 finalists.

Round 4

Finalists open their doors to OTF staff for 1-2 days of on-site visits and evaluations 

Finalists' cases are then presented to a panel of competitiveness and entrepreneurship experts who will choose six winning companies.  

Awards of up to (U.S.) $50,000 are distributed at a regional ceremony.  An additional regional grand prize of up to $100,000 may also be awarded at this time.