About the Inventor Prize
At its simplest, inventing is problem solving. It’s working out how to improve existing solutions or coming up with something new that could fill a gap no one else has seen. But coming up with an idea is only part of the journey. We know that people across the UK have ideas that, with a bit of support, could be developed into fantastic products that would help improve people’s daily lives but in reality it’s not that easy. 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 is 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 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 is currently supporting 10 finalists with great products to scale and grow, and help them in their journey to getting their product to market with non-financial support provided by Barclays Eagle Labs. You can learn more about our finalists on the Finalist page. The prize seeks 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. See the FAQs for more information about the finalists journey.