Cameroonian banker Paul Kammogne Fokam has made a great step towards promoting applied research in Africa and innovation in entrepreneurship. The PK Fokam Awards for Science and Technology prize was officially launched on 7 June 2016 in Yaoundé. The announcement was made during the 3rd edition of the international conference of the PK Fokam Institute for Excellence in science and technology.
The results of this year’s competition (which is its first edition) will be published in 2017 after a battery of screenings from the jury. Applications will be received via the internet by sending an email to email@example.com. It is worth noting that this competition will occur once every two years.
The competition is divided into various categories to suit the professional dispositions of the applicants. In the first category, the creator of the best business project will receive FCFA 10 million, as well as funding for his or her business plan. The winner of the second prize will receive FCFA 2 million and funding for their business plan. The 2nd category will award FCFA 10 million to the investor of the best-applied research while the runner-up in this category will receive FCFA 2 million.
As a renowned economist-cum-founder of Afriland Bank, Mr. Fokam states that this prize is his contribution to the rise of a generation of Africans who have the ability to support the black continent towards excellence. He further said,“there is a direct correlation between fundamental research, applied research and the distribution of wealth in the world”. Furthermore, he announced the upcoming launch of a “digital research grant” which will be an online platform where researchers, research sponsors and investors can exchange resources, for the economic advancement of Africa.
The future of Africa relies on the successes of such research projects. This is an opportunity for African researchers to maximize the PK Award.