Coop360°Innovations Award Series: Why you should participate
In the vibrant landscape of Uganda’s cooperative sector, innovation and competitiveness are becoming essential drivers of good business performance and impactful sustainable development. The Uhuru Institute for Social Development (TUI) has been working on an initiative to showcase and celebrate this. Together with our partners, the Bank of Uganda, NTV Uganda, Liberty Life Assurance, and Goldstone Consulting, the Coop360° Innovations Awards series came to life.
The Coop360° Innovations Award Series is here to recognise, amplify, and reward the ingenuity of cooperatives that have harnessed these principles to enhance membership value, fortify their businesses, and uplift their communities. If you’re a forward-thinking cooperative looking to transform your future, this is why you should participate:
- Recognition and credibility:
Winning or even being nominated for an innovation award can significantly enhance your cooperative’s credibility and reputation. It serves as external validation of your innovative ideas and solutions, which can help attract more members, customers, and valuable partners for your cooperative’s businesses.
- Increased visibility:
Awards often come with media coverage and increased exposure. We are partnering with one of the leading media houses in Uganda, NTV Uganda, to make sure that the series is covered, starting from regional selection to the national finale. This will introduce your innovation to a broader audience, potentially leading to greater market visibility and new opportunities.
- Reward innovation and competitiveness:
We believe that innovation and competitiveness are the cornerstones of cooperative-powered sustainable development. By recognising and rewarding those cooperatives that have demonstrated exceptional prowess in these areas, we aim to inspire others to follow suit.
- Motivation and morale:
Being recognised with an innovation award can boost the morale of your members and motivate them to continue to innovate for the better. It provides a sense of accomplishment and can encourage employees to pursue further creative endeavours.
- Networking opportunities:
Participation in the Coop360° Innovation Awards will provide you with the opportunity for valuable networking opportunities. You’ll meet other innovators, other cooperatives, potential collaborators, investors, and industry experts at award ceremonies and related events, which can be beneficial for your cooperative and its members.
- Access to resources:
This award series offers not only recognition but also financial rewards, or access to resources such as computers, printers, and routers, that will help your cooperative further develop and scale its innovations. These resources range from cash to computers, printers, and routers.
- Evaluations and feedback:
The application process will involve rigorous evaluation, which in turn will provide valuable feedback on your innovation. This feedback will help the cooperative members refine the product or service, making it more competitive in the market.
- Business to Business linkages:
The Coop360° Innovations Award Series offers a platform for cooperatives to build vital Business to Business (B2B) linkages. This will not only facilitate collaboration among cooperatives but also foster partnerships with TUI, other institutions, and the broader business community.
- Promoting cooperative identity:
Last but not least, the most important part of why we are starting this award series is to cultivate and nurture the appreciation and application of the cooperative identity in all cooperative initiatives. At TUI, we believe that by reinforcing these values, ethics, and principles, we can create a more inclusive and prosperous future for all.
The Coop360° Innovations Award Series is open to all cooperatives in Uganda that meet the prescribed participation criteria. To learn more, please click on this link:
