The Horizon Prizes aim at stimulating innovation and developing solutions to problems that matter to European citizens. Horizon Prizes are also known as inducement or challenge prizes, specify a target without prescribing how it may be achieved and offer a reward to those who most effectively meet the defined challenge. Prizes can also achieve a considerable leverage of private R&I investment and direct it towards solutions of particular societal challenges, providing a way to advance innovations that would not ordinarily develop through traditional routes (such as grants or procurements).
With the help of a group of independent experts, the European Commission is currently working on the design of a Horizon Prize in the field of environmental Earth Observation (EO), which could potentially be launched between 2017 and 2019. The purpose of this prize would be to incentivise innovative solutions based on Earth observation addressing a specific environmental challenge affecting European citizens.
See more on Direct link to the consultation.