The £50,000 Inventor Prize is looking for the UK’s best inventions that help make people’s lives better. We are looking for innovative and exciting new products that haven’t been on sale before.
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. We want 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.
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 demonstrate meeting the judging criteria. There will be two runner up prizes of £5,000 and £15,000 for two most promising products.