What is the European Capital of Innovation (iCapital) Award? This is an annual cash prize awarded to the European city that is best able to demonstrate its ability to harness innovation to improve the lives of its citizens.
In particular, innovation cities are those that
- contribute to open and dynamic innovation ecosystems
- involve citizens in governance and decision-making
- use innovation to improve the resiliency and sustainability of their cities
This prize enables European cities to showcase their contribution to developing local innovation ecosystems for the benefit of businesses and the wellbeing of their citizens.
The value of the prize includes
€1 million to the city named European Innovation Capital of the year.
€100,000 to each of the five runner-up cities.
The award also recognises a number of finalist cities specially acknowledged for their efforts in promoting innovation.
Cities can apply for the contest online. The full details are available via ec.europe.eu.