The United Nations Economic Commission for Africa (ECA) and the African Innovation Foundation (AIF) has announced the establishment of the African Innovation Prize (IPA) worth 100,000 U.S. dollars for the winner and 50,000 dollars for the runner-up. The prize would be presented for the first time on March 26, 2012, in Addis Ababa of Ethiopia on the sidelines of the Conference of African Finance Ministers to be held in Addis Ababa later this month, said ECA in a press statement on Tuesday. According to the statement, the conference would discuss the actions needed to turn Africa into a new growth pole for the global economy. The annual award is designed to promote the pursuit of science, technology and engineering careers among young African men and women and especially to develop innovative solutions with a great potential for commercialization. The 2012 Prize would consist of two awards given to two selected innovators or entrepreneurs in the following three thematic areas, including ICTs, green technology (energy and water) , health and food security (including Agriculture).  The Panel of Judges has already short listed seven nominees out of the 458 submissions from 38 countries.