Covalence was among the finalists of the Social Entrepreneur of the Year 2005 award in Switzerland. “The Schwab Foundation works with media and corporate partners in several countries to search and select the most acomplished social entrepreneurs in the country every year. An eminent national jury then elects âThe Social Entrepreneur of the Yearâ.
The main criteria for selection are:
1. Innovation: The candidate has transformed traditional practice through an innovative product, service, approach, or a more rigorous application of known technologies and ideas.
2. Sustainability: The organisation is achieving some degree of financial self-sustainability through revenues or is engaged in creating mutually beneficial partnerships with business and/or the public sector.
3. Direct social impact: The candidate implements the initiative directly with poor or marginalised beneficiaries. Impact manifests itself in quantifiable results.” More…