Innovation and 'long-term thinking' in spotlight as prestigious Panmure House Prize launches for 2024

Competition began in 2021 and offers one of the largest academic awards in the UK.

The Panmure House Prize rewards groundbreaking research that contributes to the advancement of long-term thinking and innovation. Picture: Paul Watt

A worldwide competition named after the former residence of legendary Fife-born economist Adam Smith has launched in Edinburgh this week.

The Panmure House Prize rewards groundbreaking research that contributes to the advancement of long-term thinking and innovation. It is one of the largest academic awards offered in the UK, with $75,000 (£59,000) going to the winner to progress further research in the field of social and economic innovation.

Applications are now being accepted for this year’s prize and must be submitted by May 6. Organisers said entrants would undergo a rigorous selection process, overseen by a distinguished panel of judges comprising leading scholars and practitioners in the field of economics, business and policy. Supported by Edinburgh-based investment firm Baillie Gifford, the Panmure House Prize was launched in 2021.

Professor Adam Dixon of the Panmure House Prize Judging Panel, said: “The Panmure House Prize represents a unique opportunity to celebrate the spirit of inquiry and intellectual curiosity that defines the fields of economics, innovation and business.”

The 2023 prize was awarded to Dr Joseph Henrich of the department of human evolutionary biology, faculty of arts and sciences at Harvard University. He will be presenting his results at Panmure House this May and the public will be able to register for the livestream.

Previous winners were Rachelle C Sampson from the University of Maryland and Dr Aravind Ganesh from the University of Calgary. Their results lectures can be viewed on the Panmure House website. This year’s prize winner will be announced in the autumn. Edinburgh’s Panmure House is managed by Heriot-Watt University.