The Dr PA Lalitha Memorial Social Entrepreneur Award, exclusively for a woman social entrepreneur, is named after Dr PA Lalitha, founder of Malabar Hospitals. The award, instituted in 2021 by the Family and the Board of Directors of Malabar Hospitals, Eranhipalam, Calicut, will be given every year to a Malayali woman social entrepreneur for her entrepreneurial excellence, social commitment, and responsibility.

The criteria for selection include entrepreneurial excellence, independent and innovative work, social concern, dedication, courage, and compassion in the individual's work. Young or senior first-generation women social entrepreneurs, from urban / rural Kerala, as well as NRK’s, who have carved a niche for themselves on their own merit are eligible to apply.

The entries are judged by an independent jury after several levels of screening. The award carries a cash prize of Rs 1 lakh and a citation that will be presented at a grand ceremony to be hosted in Kozhikode