Did you know that innovation gets the royal seal of approval, as a category within the Queen’s Awards for Enterprise?
Established for more than 50 years, these prestigious business awards comprise categories for; International Trade, Sustainable Development, Enterprise Promotion, and of course, Innovation.
What Defines an Award-Winning Innovation?
To win the Innovation award, entrants have to demonstrate either outstanding innovation of at least two years, or continuous innovation over at least five years: either way, substantially improving the business’ performance and commercial success.
So what do the judges assess when awarding for innovation?
Ultimately, businesses must demonstrate that their innovative products or services are commercially successful. This could be via:
- Invention
- Design or production
- Performance of services and products
- Marketing and distribution
- After-sales support
British Innovation: Rewarded
Last year, 243 businesses across the UK received a Queen’s Award for Enterprise- 92 of these were specifically for innovation . Winners are presented with a crystal bowl as a mark of their achievement by a Royal representative, and invited to attend a reception at Buckingham Palace this Summer. They can use the award logo on promotional material for five years.
The awards are endorsed by:
- Buckingham Palace
- Downing Street
- Department for Business Innovation and Skills
- Institute of Directors
- Confederation of British Industry
- and the Bank of England.
Winning Innovations in Diverse Sectors
The 2016 winners included innovators in:
- hydrogels
- cybersecurity
- software
- medical devices
- pharmaceuticals
- augmented reality
- zero food waste
- corrosion protection
- lasers
- gas handling
- pet food and supplements
- drones
- adverse weather responsive systems
… to name but a few.
Now, is it Your Turn?
Do you have an innovation that deserves to be recognised?
Entry to the Awards opens on 21st April 2017.
To apply and for more information, visit the Queen's Awards site.
For further information on our own innovation practice here at IXC, take a look at our heritage and how we work.
