The University of Iceland's Science and Innovation Award is a competition for innovative ideas that may contribute to the society or industry regardless of whether the idea has a financial benefit. The competition is open to all students and staff at the University of Iceland. The award has been in place since 1998.
This year, prizes will be awarded for the best idea in four categories:
- Health and well-being - The project involves a new product, service, process, method, improved procedures or other things that would have a positive impact on people's health and well-being. Cash prize of 1.5 m krona.
- Technology and progress - The project includes a new and exciting technology solution that would involve technical advances if realised. Cash prize of 1.5 m krona.
- Society - The project involves a new product, service, method, process, method, improved procedures, or something that has a positive impact on the community if realised. Cash prize of 1.5 m krona.
- Motivation - The project is promising. The cash prize would significantly affect applicant’s ability to allow the project to progress rapidly. Cash prize of 500 thousand krona.
The overall winner in the competition, from one of the above mentioned categories, receives an additional cash prize of 1.5 m krona.
The selection committee looks to novelty and originality in their evaluation, as well as implementation and benefit to society; especially based on the UN's Development goals, and whether the project is in line with the University's policies and supports its activities.
Deadline for proposals is Tuesday 31 March 2020.
The University's Science and Innovation Award is a collaboration of the University of Iceland, The New Business Venture Fund, Árnason|Faktor, Innovation Centre Iceland, and Auðna TTO Iceland - Technology Transfer Office Iceland.
Procedure policy on the competition; in Icelandic.