The Macquarie Group Foundation Social Innovation Award will recognise, promote and reward ideas that work to meet pressing social needs, alleviate disadvantage and encourage social inclusion.

The recipient of the Macquarie Group Foundation Social Innovation Award will receive $100,000 over two years to fund further investment in, or development of, their program. It will be awarded bi-annually.

Applicants must be able to demonstrate:

•Track record of persistence in developing the innovation (at least two years)

•Key deliverables and outcomes

•Strong potential improvement to people or their social environment.

The judging panel includes:

•David Clarke – Chair of the Macquarie Group Foundation

•Geoff Mulgan – Director of the Young Foundation UK, and Chair of Involve UK

•Peter Shergold – Chief Executive Officer of Centre For Social Impact, and Macquarie Group Foundation Professor

•Julie White – Head of Macquarie Group Foundation.

Applications are open from 23 September and will close on 29 October. The winner will be announced in December 2010.

Award application, criteria and eligibility can be found here.