Use It wins HSBC and Ashoka's Future Skills Innovation Challenge

Use It Waste Beneficiation (RF) NPC wins HSBC and Ashoka’s Future Skills Innovation Challenge

  • HSBC and Ashoka announce 12 winners of the Future Skills Innovation Challenge, awarding $230,000 / R3,888,196.00 to systems-changing social entrepreneurs

  • Use It from South Africa has been named a wi

nner for their work Building System Capacity in the Green Economy

  • 250 applications from more than 40 countries were submitted for the prize, which rewards initiatives who are ensure individuals and communities have the skills needed to plan for a successful future, both financially and through meaningful employment.

Use It has been named a winner of the global HSBC and Ashoka Future Skills Innovation Challenge. Competition winners were recognised for their innovative work to ensure individuals and communities across the globe have the skills needed to plan for a successful future and play an active role in the economy of tomorrow.

Building System Capacity in the Green Economy, named most innovative solution, will receive funding and mentoring support from HSBC leaders and Ashoka’s system change experts.

Use It Waste Beneficiation (RF) NPC

Use It aims to develop accredited training and skills development for new opportunities in waste beneficiation and upcycling of waste materials and is making huge strides, creating jobs and developing new technologies impact in Durban, KwaZulu Natal.

“Building System Capacity has shown us how leading social entrepreneurs are reimagining the future. This initiative boldly addresses pressing societal challenges, is building future skills needed to thrive, and moves us closer to a future where individuals and communities have meaningful employment and are financially resilient,” said Richard Johnson “We are pleased to be able to support Use It as they grow their idea and deepen their impact."

Use It joins an impressive cohort of 12 winners from nine countries. From ensuring Mexico’s domestic workers have access to formal savings tools and products, to supporting the disabled community in the Philippines to build new skills needed to thrive in the digital economy, to training a new South African workforce of youth who skilfully manufacturing products from waste, these social entrepreneurs are the visionary leaders to look towards as we reimagine.

Future Skills Innovation Challenge

The Future Skills Innovation Challenge, an international competition launched in 2019 by HSBC and Ashoka, and aims to recognise and support the visionary social entrepreneurs and their innovations that help develop future skills.

Future skills are the competencies that increase financial capability and employability skills— ensuring everyone can play an active role in the economy of the future. Financial capability means having the skills, attitudes and tools needed to manage money effectively. Employability is a set of achievements, understandings and attributes that make individuals more likely to gain employment and to be successful in their chosen occupations.

To thrive during uncertain times and in the future, communities and individuals will need these essential skills.

In collaboration, HSBC and Ashoka searched for game changing innovators with solutions that could answer the questions, “What will the jobs of tomorrow look like?” and “How can we be equipped to be successful in an every-changing environment.”

On 27 May 2020, Ashoka and HSBC announced 12 winners who were each awarded a share of an $230,000 / R3,888,196.00 innovation fund. The winners will all receive mentoring from HSBC, Ashoka, and Ashoka’s network of social entrepreneurship experts to support with immediate short-term needs, while preparing for long-term success in strategy, operations, and scaling.

To find out more about the initiatives or the Future Skills Innovation Challenge please visit the official site or the media contacts below.

-END-

FOR FURTHER INFORMATION, PLEASE CONTACT:

Rachel Fauber

rfauber@ashoka.org

+972-055-5001091

Andy Russell

Andy.J.Russell@HSBC.com

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