Heriot-Watt University is 200 years old this year and is marking its anniversary with a new academic prize.

This $75,000 prize is one of the biggest in the UK and is open to academics anywhere. The aim is to promote pioneering research in long-term investment to fund radical innovation, reflecting the 18th century economist and philosopher Adam Smith. Smith lived in Panmure House which is now under the stewardship of Heriot-Watt University.

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.” 

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.” 

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.” 

The judging panel will award the prize to the winner in July 2021. The prize is just one of the ways the university will celebrate its 200th anniversary of its founding in Scotland. Throughout this year, there will be an extensive programme of events and debates across its campuses, and online, offering something for everyone to take part in and enjoy.