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The Academy runs a programme of grants and prizes to support and celebrate the pursuit of engineering activities and to enable closer contact between academia and industry. These schemes support engineering professionals, academics and students in numerous ways including study bursaries, business start-up funding, research projects, knowledge transfer partnerships, public engagement and prizes recognising significant feats of engineering.
The Award, first presented in 1969, honours the winning organisation with a gold medal, and each of the individual nominees with a bronze medal. There is, in addition, a cash prize of £50,000.
Information on the Academy's public engagement awards scheme, Ingenious