An exciting innovation award launched to help budding inventors get their products to market will now present a first and second prize.
The Morgan Innovation & Technology Prize 2017 (MIAT Prize) is already promising £30,000 worth of R&D expertise and services to the best gadget idea – and now a second prize worth £10,000 will also be awarded.
The news comes with just six weeks to go until entries close on 5 November.
Funding for new products
The MIAT Prize has been launched to celebrate the 30th Anniversary of innovation generator Morgan Innovation & Technology (Morgan IAT) Ltd – hence the £30,000 top prize.
Now leading industrial design company Smallfry has added £10,000-worth of services to the pot, enabling first and second prize winners to be chosen.
The prizes will be awarded to the entries which satisfy the judging panel that they have real commercial potential to change people’s lives for the better.
More support has come from East Hampshire District Council, Santander and the Institution of Engineering and Technology (IET), which are publicising the prize through their websites and partner networks.
Get help and funding with invention
Morgan IAT’s inspiring initiative will help bridge the gulf between having an idea and bringing it to market, and encourage engineering and manufacturing in the UK. The innovation company based in Petersfield, Hampshire, specialises in prototype funding for inventions.
Smallfry managing director Steve May-Russell has joined the judging panel. Steve, who is also chairman of the British Industrial Design Association, has worked with businesses and universities around the world, including Boots, Lloyds Pharmacies, P&G, Unilever, Reckitt Benckiser, Marks & Spencer and Imperial College London.
Other judges are TV presenter Jon Bentley of Gadget Show fame, Andy Wright of Santander and Dr Mike Short CBE, head of Innovation at Telefonica and past president of the IET.
Completing the judging panel will be Sue Clarke, managing director, and James Quest, technical director, both of Morgan IAT.
How to make an invention
Nigel Clarke, CEO of Morgan IAT, said: “It is fantastic to be able to announce a 33% increase in the value of our prize, from £30,000 to £40,000. We know how valuable practical R&D help can be to an inventor in the early stage of their innovation, and with our help and that of Smallfry, the winners will be able to further develop their amazing idea. The expertise we offer can often be more valuable than cash, because we have so much innovation experience.”
Commenting on his involvement, Jon Bentley said: “I’m excited to help judge an award that fosters innovation and harnesses creativity to generate ground-breaking visionary products.”
Entry to the Morgan Innovation & Technology Prize 2017 is free and open now at http://www.miatprize.co.uk/. The MIAT Prize will be awarded to the entry which satisfies the judging panel that it has real commercial potential to change people’s lives for the better. Entrants must be UK residents.
The winners will be announced in January.