Lemelson-MIT Prize

Improving the World Through Invention

The $500,000 Lemelson-MIT Prize recognizes individuals who translate their ideas into inventions and innovations that improve the world in which we live.

Dubbed the "Oscar for Inventors," the Lemelson-MIT Prize is awarded to outstanding mid-career inventors, who have developed a patented product or process of significant value to society, which has been adopted for practical use, or has a high probability of being adopted. By recognizing and funding younger, mid-career inventors, the prize is designed to spur inventive careers and provide role models for future generations of inventors.

Lemelson-MIT Prize Objectives

The Lemelson-MIT Prize seeks to highlight the pivotal role inventive activity plays in the achievement of positive social, cultural and economic goals. The objectives of the Lemelson-MIT Prize are to:

recognize and reward America’s outstanding mid-career inventors
encourage broad dissemination of invention(s) to achieve maximum impact
celebrate individuals who enhance economic opportunity and community well-being through their inventive work
foster continued inventive work that creates opportunities and overcomes challenges
increase awareness of the work of inventors and the potential for commercialization and wider adoption of their inventions
promote role models who can inspire young people to pursue creative lives and careers

More here...
http://web.mit.edu/invent/a-prize.html