A new award, Scotland’s highest accolade for individual achievement in innovation is being created to encourage Scotland’s young innovators. The Gannochy Trust Innovation Award of The Royal Society of Edinburgh will be awarded annually to a young innovator whose work has the potential to promote social and economic wellbeing. A fifty thousand pound cash prize will be presented to the winner of what is expected to be a fiercely contested, top-level competition. Established in partnership between The Gannochy Trust and The Royal Society of Edinburgh, the purpose of the new award is to encourage younger people to pursue careers in fields of research which promote Scotland’s inventiveness internationally, and to recognise outstanding individual achievement which contributes to the common good of Scotland. The prestigious award also seeks to promote Scotland’s research and development capability in new technologies and areas of social importance.

Targeted at a new generation of Scottish innovator, any individual under the age of 45 working in Scotland will be eligible to compete for the award. Competition entries from fields of research and development which have demonstrable potential to benefit Scotland’s social or economic wellbeing, will be sought. A distinguished judging panel will select the winner, following an open competition run by The Royal Society of Edinburgh. The judges will include eminent individuals from business, academia and public life. Applications for entry are available from The Royal Society of Edinburgh (gannochyaward@royalsoced.org.uk). The first award is expected to be announced in May 2003.

Speaking on behalf of the RSE, Sir William Stewart said:

Scotland has a great legacy of innovation and invention. Today, at the start of the twenty first century we must seek to support a new generation of innovator, enabling our most outstanding young researchers and entrepreneurs to compete internationally. The Gannochy Trust Innovation Award of The Royal Society of Edinburgh seeks to recognise individual achievement which contributes to the social and economic wellbeing of Scotland. I am grateful to the Trustees of The Gannochy Trust for the very valuable funding they are providing for this award. I believe it will be much sought after and attract a top-level field of entrants. I hope that this prestigious prize will help to encourage the best of our young innovators and support them in realising Scotland’s excellence.

The Gannochy Trust’s Chairman, Russell Leather said:

The Trustees of the Gannochy Trust share the enthusiasm of The Royal Society of Edinburgh for innovation and recognise its importance. Scotland has for long been noted for its capacity to generate and execute new ideas. It is vital to our future prosperity that this capacity is not only maintained but enhanced.

The Trustees look forward to a fruitful partnership with The Royal Society of Edinburgh, with the expectation that this Award will stimulate and encourage our young and gifted people to use their talents to the full, for the benefit of their fellow citizens.

Notes for Editors

The Gannochy Trust is a grant-making Trust based in Perth, which makes donations to charities in Scotland, with a preference for Perth and its environs. The Trust was founded in 1937 by Arthur Kinmond Bell, whisky distiller and philanthropist, who had previously built a model housing estate of 150 houses in Perth.

In recent years the Trustees have enlarged the estate with a further 63 sheltered houses, which they maintain and administer, in addition to farms, recreation grounds and other properties.

A number of civic, recreational and social projects in Perth bear witness to major charitable support from the Trust. In addition, many small charities in Perth receive regular donations.

Other charitable organisations, large and small throughout Scotland, have been the recipients of donations from the Trust.