Nestle Group and Ashoka, a leading network of social entrepreneurs, have launched the 2018 Creating Shared Value (CSV) Prize. — VNS Photo

Nestle Group and Ashoka, a leading network of social entrepreneurs, have launched the 2018 Creating Shared Value (CSV) Prize to source, recognise and support leading innovations or programmes related to water, nutrition and rural development.

The prize is open to social enterprises and commercial enterprises world-wide, with winners getting an award of CHF 500,000 (US$522,000) to help grow their business, a pitch opportunity at the World Water Forum in Brazil next year and a prestigious Ashoka Fellowship.

The prize, launched in 2010, is a business-oriented initiative to help address challenges in nutrition, water and rural development.

This year Nestle has partnered with Ashoka in a global search for innovations to tackle those challenges.

"This union will foster powerful co-creation with social entrepreneurs, and deepen the social impact on the communities and beneficiaries they serve," Olivier Fruchaud, director of Ashoka Switzerland, said.

Innovative businesses and social enterprises are invited to apply at www.changemakers.com/creatingsharedvalue or nominate top innovators by emailing csvprize@ashoka.org.

Those with the five best initiatives will be invited to attend the CSV Forum in Brazil next year where the winner will be announced. — VNS