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BEIS Inventor Prize

Funding details
Organisation
Nesta/Department for Business, Energy & Industrial Strategy (BEIS)
Summary

The Inventor Prize is a pilot, run by Nesta and funded by the Department for Business, Energy & Industrial Strategy (BEIS). The prize aims to help smaller inventors overcome the barriers they face. The Inventor Prize wants to support individuals, teams or companies that would likely struggle to otherwise access resources and support. Unlike other programmes, the Inventor Prize will be athematic, open to products that relate to any issue as long as that product helps to make people’s lives better, thereby helping to tackle a social issue affecting the UK.

Competition themes:

  • Financial Inclusion

Many people lack access to appropriate financial services, or simply lack the financial and digital knowledge in order to manage their money effectively. Click here for more details.

  • Mental Health

Mental health issues are prevalent in society, too many people suffer from stress, anxiety and depression and struggle to manage their mental health.  Click here for more details.

  • Ageing

Everybody ages, and the UK population is no exception. As people age, they come with both an increasing contribution to society, as well as number of challenges.  Click here for more details.

  • Air Quality

Poor air quality is one of the most serious public health risks facing us today.  Click here for more details.

To be eligible, entrants will have to have a working model and be able to show that their invention will help to tackle an important societal issue. The Inventor Prize will support 10 finalists with great products to scale and grow, and help them in their journey to getting their product to market.

The prize will seek to:

·       Support the development of selected products

·       Build the capacity of prize participants (inventors)

·       Champion and raise the profile of the lone or small scale inventor

£50,000 will be awarded to the finalist that best demonstrates meeting the judging criteria. There will be two runners up prizes of £5,000 and £15,000 for two most promising products.

For further details click here.

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