OTM Innovation Prize

Stimulating technical innovation in the worldwide subsea sector

The OTM Innovation Prize is a new award to be made annually by the Society for Underwater Technology (SUT) with the objective of stimulating and promoting technical innovation in the subsea sector worldwide. This will be its second year of operation.

Companies and research organisations from around the world are invited to submit ‘team’ applications for the prize. Teams should comprise one, two or three people who are employees of the company/organisation and who have played a pre-eminent role in conceiving or developing the innovation. The winning company/organisation will be awarded the prestigious OTM Innovation Trophy and a prize of GBP1000 will be divided equally amongst team members, who will also receive a replica trophy.

Applications are welcomed from around the world and from all subsea markets, including oil and gas, defence, marine renewable energy, oceanography, fishing/mariculture.  Whilst this prize is primarily intended to stimulate new ‘game-changing’ innovations, applications may be made for innovations at all stages of commercialisation.

Applications should be made online at www.otmnet.com/innovationprize supplying information as shown below. The closing date for applications is 30 September each year. No other information should be provided other than as requested in the form below, except for additional illustrations, graphs and pictures, which may be appended with the prize being awarded at the SUT’s AGM in December each year, commencing 2005.

The SUT Chairman shall decide upon the recipient of the prize, taking advice from a six-person judging panel appointed by the SUT Council to evaluate applications. Evaluation will be made on the basis of information provided by applicants in four areas: novelty, market potential, end-user business case and commercialisation plans. Each of these four sections will be scored from 1–10 and weighted as indicated on the application form. The 5 applications achieving the highest scores will be shortlisted, prior to selection of the winner.

Shortlisted applicants will receive publicity when the SUT announces the applications that have reached the shortlist. Winners will receive publicity in the trade and business press after the awards dinner.

Apply for the OTM Innovation Prize 2005

Closing date for applications is October 15^th

All materials submitted for the OTM Innovation Prize will be treated as confidential and will not be disclosed to anybody beyond the judging panel and SUT secretariat involved in the evaluation process. Eventual disposal of any application will be carried out with due regard for the confidential nature of the contents. All material submitted is non-returnable.

Enquiries may be made to: Ian Gallett  ian.gallett@sut.org  +44 (0)207 382 2601

SUT  80 Coleman Street  London  EC2R 5BJ  UK

Judging Panel

Richard Binks (Managing Director, IXSEA Ltd)

Chris Dudgeon (Managing Director, OTM Consulting Ltd)

Ian Gallett (Executive Secretary, Society for Underwater Technology)

Gwyn Griffiths (Head Underwater Systems Laboratory, National Oceanography Centre, Southampton and SUT Chairman)

Mike Theobald (Deepwater R&D Programme Manager, BP)

Steve Williams (Head Consultant Subsea Systems, KBR)