Now you can apply for a winning pool of DKK 500,000.

Juryen i arbejde på kontoret

In 2024, the Otto Mønsted Foundation will once again award the Bright Idea Prize to two ideas with great business potential. The winning ideas will be awarded a total of DKK 500,000, and the jury looks forward to reviewing the applicants’ dazzling ideas during the application period from 15 April to 15 August.

This is the sixth consecutive year that the Otto Mønsted Foundation has awarded the prize in recognition of talent with the right innovative idea, product, process or solution. The award is not only a celebration of the work, but also to encourage and inspire this year’s winners in the further development of their ideas.

The Otto Mønsted Fund Bright Idea 2024 is awarded in the following areas:

– DKK 250,000 to the best Early-stage idea
– DKK 250,000 for the best Late-stage idea

In addition to the above prizes, the jury may choose to award extra prizes to one or more ideas that have made a special impression on the jury.

With the award, the Otto Mønsted Foundation wishes to reward, recognise and celebrate ideas that can create value for Danish society and business and serve to honour Denmark. Businessman Otto Mønsted made a difference himself and wanted to give others the opportunity to do the same. Supporting young talent and providing better conditions for them to fulfil their potential was something Otto Mønsted valued highly.

prisvinder med bestyrelsesformand
The winners of The Bright Idea 2023, Ida C. Nielsen and Hongbo Zhao, were presented with the awards by the foundation’s chairman of the board, Nis Alstrup. Photo: Dan Møller

Candidates:

  • Nominations are generally accepted from undergraduate/graduate students, PhDs, and postdocs affiliated with one of the eight universities in Denmark. You can apply individually or on behalf of a group.
  • Is a bright idea with commercial potential that has managed to combine high academic insight with strong business acumen.
  • Applicants who have previously been rejected are eligible for nomination of the Bright Idea again in 2024.

Ideas that have previously received major awards (over DKK 200,000) are not eligible for The Bright Idea.

The jury assesses the nomination based on the following parameters:

  • Excellence in thought, communication, analysis and documentation
  • The degree of business vision and understanding
  • The likelihood that the Bright Idea can be implemented
  • The value and importance of the idea to the Danish business community

The jury will select two winners of “The Bright Idea” to be awarded and announced in October at the Digital Tech Summit 2024.

Read more about how to apply HERE