Degussa endows European research award

The new European “Science-to-Business Award” of Degussa AG, Dusseldorf, Germany, is more than just a totally new kind of award for innovation at the pan-European level – with prize money of 100,000 euros it is also one of the highest-endowed research awards anywhere. The world’s leading specialty chemical company will launch the official invitation for submissions for the award this evening in Brussels. Degussa is offering the prize in 2006 for the first time, together with INSEAD, the European business school, and the German business newspaper, Handelsblatt. The patron is Janez Poto?nik, EU Commissioner for Science and Research.

Linking outstanding scientific achievement and entrepreneurial spirit

Degussa Management Board Chairman Prof. Utz-Hellmuth Felcht comments: “European universities and research institutes are continuing to achieve outstanding scientific accomplishments. Yet these achievements are not being adequately converted into economically successful products. And this is where our new Science-to-Business Award comes in.”

“Innovation is a task for society as a whole. Our intention is that this award will help create a favourable climate in Europe for innovation. We also want it to encourage young scientists to show entrepreneurial spirit", emphasizes Dr. Alfred Oberholz, the Degussa Management Board Member responsible for research and development.

2006 – Materials sciences in focus

Scientists working at research facilities in Europe may apply for the “Degussa European Science-to-Business Award”. The age limit is 35 years. The work submitted should have been completed in the past two years and be interdisciplinary in nature.

The theme for the 2006 prize is material sciences and related technologies. In addition to the prize money, the winner or winning team will receive extensive management coaching from INSEAD. The award will be presented in summer 2006.

Those wishing to apply will find further information at www.degussa-award.com