University launches inaugural Panmure House Prize to mark bicentenary

One of the UK’s largest academic prizes is being launched at Heriot-Watt University today, coinciding with the institution’s 200th anniversary of its founding in Scotland. 

Panmure House
Panmure House

The inaugural Panmure House Prize is a $75,000 award to promote and encourage pioneering research in long-term investment to fund radical innovation. The research area is in the spirit of the 18th century Scottish economist and philosopher, Adam Smith, who lived in Panmure House in Edinburgh, which is now under the stewardship of Heriot-Watt University.   A panel of esteemed judges, comprising representatives from both academia and business, will award the Prize in July to the best research proposal. 

Throughout this year, we will be celebrating 200-years since the early beginnings of Heriot-Watt University, providing us with the opportunity to reflect on where we have come from while having a focus on the future.Professor Richard A. Williams, Principal and Vice-Chancellor at Heriot-Watt University The opportunity is open to academics and others affiliated to an academic institution from around the world. Full details and the call for papers will be released in February on the Panmure House website.  

Professor Heather McGregor, Executive Dean of the Edinburgh Business School at Heriot Watt University, said: “The aim of the Prize is central to the mission of Panmure House, the final remaining home of globally renowned economist and philosopher, Adam Smith.  “Adam Smith used to bring the finest minds of the day together in Panmure House to tackle some of the world’s biggest problems. We wish to carry on his legacy through inviting the finest minds today to try and identify how best to develop long term funding, which will enable radical innovation.  “I am delighted that we can recognise the University’s bicentenary in such unique and memorable way.” 

The Prize is being administrated in partnership with FCLTGlobal (Focusing Capital on the Long Term), a global non-for-profit organisation that aims to rebalance capital markets to support a long-term, sustainable economy.  Sarah Keohane Williamson, Chief Executive Officer of FCLTGlobal, said: “It is a great privilege to support the inaugural Panmure House Prize and help promote pioneering research in long-term investment.   “We look forward to hearing from the entrants about the exciting possibilities their research has to deliver actionable impact for innovation.” 

The Panmure House Prize is, in the first instance, funded for five consecutive years.   Throughout 2021, Heriot-Watt will mark 200 years of its founding in Scotland with a programme of celebrations to recognise the University’s exceptional impact of its research on wider society and its plans for the future. 

Professor Richard A. Williams, Principal and Vice-Chancellor at Heriot-Watt University, said: ”Throughout this year, we will be celebrating 200-years since the early beginnings of Heriot-Watt University, providing us with the opportunity to reflect on where we have come from while having a focus on the future. “Over two centuries, our mission has remained the same; to create and exchange knowledge for the benefit of society. I’m delighted the inaugural launch of the Panmure House Prize is being delivered in the same spirit and I wish each of the entrants the very best of luck. “During 2021, the University will be hosting a series of events to mark its historic milestone and bring our global Heriot-Watt community together to focus on long-term solutions to make a positive difference to the world. “We look forward to these events, which will be open to everyone and held across all our campus locations in Edinburgh, Galashiels, Orkney, Dubai and Kuala Lumpur/Putrajaya.” 

Source: Heriot-Watt University

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