Competition terms and conditions
The aim of the Lund University and Sparbanken Skåne’s Prize for Future Innovations is to promote an innovation-friendly culture within the University, and to encourage more new ideas that can lead to future innovations. We welcome ideas and projects within all disciplines.
Who can apply?
Only employees and students at Lund University can apply for the award.
If you are several people involved in one idea, at least one of you must be an employee or student at Lund University. If the group represents both competition categories, you will compete in the Employee category.
If one of you has conducted doctoral education at Lund University or any other university, you also belong to the Employee category.
You are allowed to compete with the same idea several times, but not if the idea has been one of the winners in previous years.
You are entitled to compete if you are an employee at Lund University by the time of application. Researchers working at the Skåne University Hospital but affiliated with Lund University may also participate in the competition.
Students that are enrolled at Lund University or have completed at least 1 ECTS credits at the University during the academic year of 2023 are entitled to compete in the student category (Note that if you took a course starting in the autumn semester 2022 and your points were registered points in January 2023, you still qualify). Doctoral/PhD students belong to the Employee category.
The prize amounts to a total of SEK 500 000, and will be distributed as follows:
One award of SEK 150 000.
One honorary award of SEK 75 000.
One award of SEK 100 000.
One honorary award of SEK 50 000.
Most promising new idea 2023
One award of SEK 75 000.
One award of SEK 50 000.
The prize is awarded in the form of a grant allocated to the main applicant and is normally not subject to tax. The grant is to be used to develop the idea described in the application. The prize is funded by Sparbanken Skåne through its owner foundation, Sparbanksstiftelsen Finn.You may be asked during the (6-12) months following your award be asked to participate in an meeting or event hosted by LU Innovation to discuss how your project is progressing.
Although winners are not required to report back how the grant was used; we would like to receive a summary of the grant’s impact on the idea or project within the year of receiving the award.
We are looking for ideas that have not yet been realised. Perhaps you have promising research finding or a solution to a problem that you have been contemplating or working on for a while. The definition of what qualifies as an realised idea is not crystal clear – but you cannot have made any money from it yet.
The assessment of ideas will focus on:
- NEED The addressed need is of crucial importance. Does the proposed solution cater to a tangible necessity for individuals, the broader community, enterprises, or our planet?
- SOCIETAL BENEFIT How does the proposal deliver value or advantages to the community? Could the concept result in cost reductions, improved quality of life, or alleviation of distress? What is the potential reach and impact, both on a local and global scale?
- SUSTAINABILITY We are seeking proposals that align with economic, social and environmental sustainability. How does your concept contribute to the achievement of a specific Global Sustainable Development Goals?
- GLOBAL POTENTIAL/SCALABILITY To what extent does the solution have the potential to capture a substantial market share, audience or global reach? What is the solution's distinct competitive advantage in relation to comparable offerings?
- DRIVE & PASSION How clearly does the applicant show determination and skill? Does the person or team possess the expertise and enthusiasm for the project?
- INNOVATION & NOVELTY: How novel is the concept? Is the approach distinct and fresh? Does the solution tackle real issues in a unique way?
To win, entrants should demonstrate how their idea can benefit people, society, or the environment. For the "Most Promising New Idea 2023" category, the assessment of "Innovation and Novelty" carries more weight in judging applications, and only projects that started during 2023 will be considered.
In order to select the winners, we have a jury with experience in entrepreneurship, sustainability, social innovations, investment, and company-building:
What will happen to my idea?
Entering the competition does not mean that you hand over your idea to Lund University.
If you have an idea that might be patentable, please note that novelty is a patentability requirement. Information sent to Lund University may legally be considered a public document, so avoid specifying technical features in the application. If you are uncertain, please contact Per Mercke at LU Innovation (per [dot] mercke [at] innovation [dot] lu [dot] se) for advice.
The judging of entries is scheduled to be completed in mid-October. At that point you will be notified if you are selected as one of the finalists.
Finalists will develop their pitches during late October and early November through Value Creation sessions hosted by LU Innovation. For this training, you will be assigned one session a week for three weeks leading up to the Grand Final.
To win, finalists will be expected to present their idea at the Grand Final held on the morning of Tuesday, November 7, 2023.
About the Future Innovations Award
The prize exists to promote and encourage the use of knowledge at the University. The competition is open to all Lund University employees and students and welcomes ideas and projects in all fields.
The prize is funded by Sparbanken Skåne through its owner foundation, Sparbanksstiftelsen Finn.