About the award

The Spinoff Prize focuses on spinoff companies founded on research in life sciences or physical sciences, both of which can include digital technology approaches including artificial intelligence, deep learning, neuromorphic computing, and quantum computing. A shortlist will be profiled in an online special report published in Nature, alongside the list of the companies deemed the ‘ones to watch’. Shortlisted spinoffs will pitch to the slam panels live at the Curious2024 – Future Insight™ conference, after which one winner will receive a €30,000 cash prize. All applicants will receive a free online ticket to the Curious2024 – Future Insight™ conference.

We encourage applications from anywhere in the world, from applicants of all genders and company positions, including companies in early stages of establishment. Eligibility criteria are listed below.

Key dates

• 11th September 2023. Applications open
• 7th January 2024. Applications close.
• April 2024. Longlisted and shortlisted companies will be informed under embargo.
• June 2024. Longlisted and shortlisted companies will be announced within an online special report in Nature.
• July 2024. The slam will take place and the winner will be announced at the Curious2024 – Future Insight™ conference in Germany on 10th and 11th July.

Eligibility

• The spinoff company must have been formed to commercially exploit the results of research activity in life sciences or physical sciences originated from a university or research institute.
• The spinoff has to be a separate legal entity and not an extension or controlled body of the university or research institute, although the university or research institute may still own a controlling equity stake.
• The spinoff must have been registered as a separate legal entity on or after 11th September 2018.
• The spinoff cannot be based in Cuba, Iran, North Korea, Sudan, Syria, Burma/Myanmar, Russia, or the Crimea, Donetsk or Luhansk regions of Ukraine, or other sanction-sensitive countries or regions as updated from time to time.
• Companies which provide healthcare services to the general public are not eligible to apply, as per Clause 3.a.viii of the Terms and Conditions.
• The applicant must be an employee of the spinoff.
• The applicant must not be a director or employee (or members of their immediate families) of Springer Nature or Merck or any holding company or subsidiary of Springer Nature or Merck; they must not be a member of the current judging panel (or members of their immediate families).
• The applicant must have supporting approval from the university or research institute where the underpinning research was conducted.
• The applicant can be of any nationality and based in any country, other than those proscribed in Clause 3.a of the Terms and Conditions.
• Nature will publish an online special report featuring spinoff companies that the judging panel feel warrant particular attention. This will include all the companies selected to compete in the final slam session and may include other entrants that the Nature Awards and editorial teams find interesting and feel deserve coverage. Applicants must be prepared to be interviewed by Nature’s reporters, and to provide imagery (company logos, photography, figures etc.).
• Applicants must be available to attend the Curious2024 – Future Insight™ conference in Germany on 10th and 11th July 2024, as finalists will be invited to participate in the slam competition.
• If the applicant is no longer able to attend, another representative of the spinoff may attend instead. They can either be an employee of the spinoff, a member of the Board of Directors, a member of an Advisory Board, or a member of the university or research institute’s Technology Transfer Office or equivalent.
• There is no limit on the number of spinoffs entered from a given university or research institute.
• Companies which entered previous cycles of The Spinoff Prize may submit an entry for this cycle, provided that all eligibility criteria are met and the company has not previously been included in the final slam.

Evaluation process and criteria

Submitted applications will be assessed by the judging panel consisting of editorial staff from Nature Portfolio, and independent experts. Panel members will review applications to select the best entries, creating a longlist that will be published online. From this selection, a shortlist of finalists will be chosen to pitch in a slam event, where the winner will be selected. Full details of the format for the slam stages will be provided to the shortlisted applicants in advance. Provisionally a pitch deck of slides will be required. Applicants will make a short pitch to the panel and that will be followed by a Q&A session. The judging panel is wholly responsible for the final decision. The chief judge will have a casting vote in the event of a tie.

Applications will be assessed against the following criteria. The applicant will have to answer questions that relate to each of the criteria and the numbers in brackets will be the maximum marks available for each section.

• The science (50 marks). Clear demonstration of the originality and quality of the underpinning science.
• The opportunity (50 marks). A precisely defined market problem or unmet need, as well as demonstration of the suitability and viability of the solution in the context of the competitive landscape.
• The plan & team (50 marks). A demonstrably  high-quality business plan, appropriately validated, and a management team with the necessary skills and experience
• The impact (50 marks). An assessment of the significance of the problem or unmet need in terms of health burden or cost to society

Prizes

The longlisted spinoffs, the ‘ones to watch’ will:

• Be listed in an online special report published in Nature.
• Have the right to use The Spinoff Prize mark on their website.

The shortlisted spinoffs will:

• Be profiled in an online special report published in Nature.
• Receive a free licence to use the profile of the spinoff written by expert science writers and any associated infographics.
• Have the right to use The Spinoff Prize mark on their website and pitch material.
• Be invited to participate in a pitch slam at Curious2024 – Future Insight™ conference in Germany on 10th and 11th July 2024, where the winner will be selected. A pass to the Curious2024 – Future Insight™ conference will be provided and travel costs will be reimbursed up to the amount of €1250 subject to the Terms and Conditions.

The overall winner of The Spinoff Prize will:

• Receive a cash prize of €30,000 to develop its research further. Prize money must be invested in research and development in the areas of life sciences or physical sciences,  both of which can include digital technology approaches i.e. including artificial intelligence, deep learning, neuromorphic computing and quantum computing, with the ultimate goal of advancing science to make a positive impact on society.
• Have the right to use The Spinoff Prize winner mark on their website and pitch materials.
• Within one year of the prize announcement, there is an obligation to present via video conference or in person to Nature Awards and Merck on progress and how the prize has supported the development of science or research, plus in depth discussions with staff of these organizations.
• An agreement will be signed by the winner defining in more detail specific terms and conditions of the award. A copy of this agreement is available on request from awards@nature.com.

Note: Nature Awards and Merck support the Sunshine Act and other initiatives that promote transparency in relationships with healthcare providers and are committed to meeting all transparency reporting requirements, including Open Payments. We are likewise committed to meeting similar state laws enacted by state authorities to require transparency reporting about payments and other transfers of value made to relevant healthcare providers. We may therefore require reporting actions from the eventual winner consistent with such legal requirements.