LONDON, 26 October 2022: The Financial Times and the International Finance Corporation (IFC), a member of the World Bank Group, announced the winners of the 2022 FT/IFC Transformational Business Awards, a global program highlighting ground-breaking, long-term private sector solutions to major development issues.
This year's program marked 17 years of collaboration between the FT and IFC on awards that have had a substantial impact on the way financial and non-financial organizations approach sustainable investment.
The 2022 awards recognized initiatives that are using disruptive technologies and impact funds to develop substantive solutions to a range of social, humanitarian, environmental and structural economic challenges facing developing economies, in the aftermath of the pandemic, and amid renewed efforts to address climate change and the impact of conflict on fragile states.
A total of 219 entries were received from all regions of the world. MedGenome won the Excellence in Transformational Business award for its genomic testing and research program in India. A new prize for deep tech ideas that may not yet meet the financial criteria of the core categories was awarded to FriendsLearn and Carnegie Mellon University for their Digital Vaccines project.
The awards were presented at a high level dinner in London on October 25 which followed a conference with thought leaders on climate finance, food security, health innovation, new technologies, and emerging market economics.
Full list of winners and highly commended:
Transformational Climate Change Solutions
Winner: HomeBiogas waste-to-energy systems, Global
Special Commendee: Amadeus sustainable textile fibre project, Brazil
Transformational Human Capital Solutions
Winner: MedGenome genomic testing and research, India
Special Commendee: upGrad integrated lifelong learning programs, India
Transformational Finance Solutions - Impact Investing
Winner: Horizon Capital Emerging Europe Growth Fund III, Ukraine and Moldova
Special Commendee: Accion Quona Fund
Transformational Finance Solutions - Gender-Lens Finance
Winner: Banco Pichincha Gender Intelligence Program, Ecuador
Special Commendee: Evermos e-commerce platform for women entrepreneurs, Indonesia
Transformational Solutions - New Frontiers
Winner: Digital Vaccines by FriendsLearn and Carnegie Mellon University - US, India and Botswana
Special Commendee: Ecovon renewable wood product, Ghana
Transformational Frontier Market Solutions
Winner: 14Trees 3D printing of homes and schools, Africa
Excellence in Transformational Business
Winner: MedGenome genomic testing and research, India
"I was impressed by the range and depth of the short-listed entries, which made the judging process even more difficult and rewarding than I had expected," said Claer Barrett, Consumer Editor of the Financial Times and co-chair of the awards judging panel.
William Sonneborn, Global Director, Disruptive Technologies and Funds, at IFC, and co-chair of the Awards judging panel, said: "As the world faces multiple humanitarian, environmental and economic crises, private sector-led solutions are needed more than ever. We are very proud that this long-standing awards program has continued to provide an important platform to recognize ideas and business models that are innovative, transformative, and impactful".
The awards judging panel consisted of:
- Clear Barrett, Consumer Editor, Financial Times (co-chair)
- William Sonneborn, Global Director, Disruptive Technologies and Funds, IFC (co-chair)
- Samir Abhyankar, Managing Director of Direct Private Equity, British International Investment
- Helen Clarkson, CEO, The Climate Group
- Miguel Martins, Champion in Chief, MJM Advisors and Sustainability and Impact Investments Partner, 3xP Global
- Julie Wallace, Head of Impact, LeapFrog Investments
For more details on the FT/IFC Transformational Business Awards, please visit https://transformationalbusiness.live.ft.com where you can watch a replay of the event.
About the Financial Times:
The Financial Times is one of the world's leading business news organisations, recognised internationally for its authority, integrity and accuracy. The FT has a record paying readership of 1.2 million, more than one million of which are digital subscriptions. It is part of Nikkei Inc., which provides a broad range of information, news and services for the global business community.
About IFC:
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org
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