Media & Press

Who would have thought that the key to long-term innovation and economic growth would lie in chance encounters between thinkers from different disciplines? After fourteen years of research, Professor Kirk Doran, an economist at the University of Notre Dame in Indiana, has made a surprising discovery that turns our understanding of innovation on its head.

An American professor has won a Scottish economics prize that celebrates the influence of Adam Smith.  Kirk Doran, of the University of Notre Dame, was on Monday named the winner of the $75,000 Panmure House prize, which seeks to recognise innovation in the field and highlight the influence of the 18th-century Scottish economist.

Kirk Doran, an associate professor in the Department of Economics at the University of Notre Dame, has won the 2024 Adam Smith Panmure House Prize.

The winner of one of the UK’s biggest academic prizes has discovered what he believes is the key to long-term innovation and economic growth: unplanned intellectual friendships – like Plato and Aristotle, or DNA pioneers James Watson and Francis Crick.

This year marks the 300th anniversary of the birth of Adam Smith. Sarah Keohane Williamson considers how to best preserve his legacy and apply his lessons to today’s challenges.

Sarah Keohane Williamson is the chief executive officer of FCLTGlobal and a member of the Panmure House Prize Judging Panel.

Why do we need to stimulate academic thought about the combination of innovation and finance? ‘Surely this should happen naturally?’, you might well ask. The answer is that it should, but it doesn’t. James Anderson, Chair of the Panmure House Prize considers long term investment and innovation.

Study to 'Help Shed Light on the Critical Importance of Long-Term Investment Horizons for the Breakthrough Innovation'.

One of the UK’s largest academic prizes has been awarded to US-based researchers studying companies who invest in long-term development to achieve groundbreaking innovations. The Panmure House prize is named after Adam Smith’s final Edinburgh home. It awards $375,000 (£270,000) over five years for research projects into the long-term funding of innovation in the spirit of Smith, the Scot regarded as “the father of economics”.

Heather McGregor writes in The Times Thunderer about the Panmure House Prize: What problems do you want to solve? As school leavers across the country consider their choice of university and with the publication of the latest report from the International Panel on Climate Change, it is a question we must all ask with urgency. The IPCC report is sobering. The much-vaunted 1.5C temperature limit looks to be exceeded, extreme weather will continue to worsen and the seas will continue to rise. One silver lining is that scientists know more about what they are doing and what needs to happen than when the last report was published in 2013.

Newswise — Proposed research into the long-term funding of innovation has yielded the inaugural Panmure House Prize for Rachelle Sampson, associate professor of Logistics, Business and Public Policy at the University of Maryland’s Robert H. Smith School of Business.

Proposed research into the long-term funding of innovation has yielded the inaugural Panmure House Prize for Rachelle Sampson of the University of Maryland's Robert H. Smith School of Business.

A major prize funded by Edinburgh-based investment firm Baillie Gifford aimed at finding the next Tesla, Amazon or pharmaceutical star has been awarded to US-based researchers.

COLLEGE PARK, Md., Aug. 20, 2021 /PRNewswire/ -- Proposed research into the long-term funding of innovation has yielded the inaugural Panmure House Prize for Rachelle Sampson, associate professor of Logistics, Business and Public Policy at the University of Maryland's Robert H. Smith School of Business. The $75,000 prize is administered by the Edinburgh Business School at Heriot-Watt University in partnership with U.S.-based long-term investment consultancy FCLTGlobal and funded by Baillie Gifford. Considered one of the United Kingdom's largest academic prizes, it recognizes research identifying potential flows of capital to innovation – in hope of finding the next major technological, retail or pharmaceutical up-and-comer.

The $75,000 Prize recognises research that will lead to increased flows of capital to innovation – in hope of finding the next Tesla, Amazon or pharma star An extraordinary $25,000 prize was also awarded to an outstanding PhD candidate as the Prize panel made eleventh-hour decision to reward innovative proposal The Prize panel is led by James Anderson, partner at Baillie Gifford, and includes Sir John Kay, former dean of Oxford’s Said Business School; Nitin Nohria, 10th dean of Harvard Business School; and Dominic Barton, global managing partner emeritus at McKinsey & Co and Canadian ambassador to China

The big number: $75,000 —Amount awarded to University of Maryland Robert H. Smith School of Business associate professor Rachelle Sampson in the first-ever Panmure House Prize from the Edinburgh Business School at Heriot-Watt University in Scotland. The prize “recognizes research identifying potential flows of capital to innovation,” according to a press release. Sampson, who teaches of logistics, business and public policy, is working on a project with a team of researchers analyzing U.S. patents to examine how some larger, research-focused companies are more likely to make significant breakthroughs.

The competition is trying to help the company find the next Tesla or Amazon that the firm can support long-term

The $75,000 per annum prize, funded by Baillie Gifford, will commend research into the long-term funding of innovation

It is an understatement to say that Neil Woodford made plenty of mistakes during his brief time as an independent fund manager (about five years, depending on how you measure it). But the Oracle of Oxford, as he was dubbed, did set out to encourage something we need more of — patient capital.

Column by Prof. Heather McGregor

Motion S5M-24127: Gordon MacDonald, Edinburgh Pentlands, Scottish National Party, Date Lodged: 12/02/2021

Heriot-Watt University Celebrates Bicentenary.

Supported by: Kenneth Gibson, Liam McArthur, Richard Lyle, Gordon Lindhurst, Stewart Stevenson, Bill Kidd, Alex Cole-Hamilton, Sandra White, Stuart McMillan, Annabelle Ewing, Christine Grahame, Miles Briggs, David Torrance, Maureen Watt, Jeremy Balfour, Neil Findlay, Fulton MacGregor, Gil Paterson

AN ACADEMIC award worth $75,000 each year for the next five years has launched today to emerging leaders in academia who are planning to produce research on the topic of long term funding of innovation.

The Panmure House Prize is one of the UK’s largest prizes in academia and has announced today that applications are now being accepted.

The prize is named after 18th century Scottish economist and philosopher Adam Smith’s final home.

University launches inaugural Panmure House Prize to mark bicentenary.

The inaugural Panmure House Prize is a $75,000 award to promote and encourage pioneering research in long-term investment to fund radical innovation. The research area is in the spirit of the 18th-century Scottish economist and philosopher, Adam Smith, who lived in Panmure House in Edinburgh, which is now under the stewardship of Heriot-Watt University.

Edinburgh. Monday 22 February 2021. One of the UK’s largest academic prizes – the Panmure House Prize – launches today to support research into long-term funding for innovation.

Heriot-Watt University, who will administer the prize, also announces the support of an internationally-renowned panel of judges. Nobel prizewinner and economist Sir Angus Deaton, whose father attended Heriot-Watt University, is the patron of the prize.

The Panmure House Prize is an award of $75,000 each year over the next five years to emerging leaders in academia who are planning to produce outstanding research on the topic of the long-term funding of innovation in the spirit of Adam Smith, the eighteenth-century Scottish economist and philosopher.

Heriot-Watt University has launched one of the UK’s biggest academic prizes, as it marks the 200th anniversary of its founding in Scotland.

In 2021, Heriot-Watt University celebrates the 200th anniversary of its founding in Scotland. From its beginnings as the world's first mechanics institute in the heart of Edinburgh, two centuries of innovation have led to what is today a unique international institution with campuses in the UK, Dubai and Malaysia.

One of the UK’s largest academic prizes – the Panmure House Prize – will support research into long-term funding for innovation.

The prize, worth more than £250,000 over five years, has been funded by asset manager Baillie Gifford and is now open to applications. It is named after the final home of 18th century Scottish economist and philosopher Adam Smith. Panmure House is in Canongate, Edinburgh and has been restored and reimagined by Heriot-Watt University as a centre for social and economic debate and research. Heriot-Watt, which will administer the $75,000-a-year prize, also announces the support of an internationally-renowned panel of judges.

On 22 February, Adam Smith's Panmure House launched the inaugural Panmure House Prize, a $75,000 award for the best research proposal into long-term investing and its impact on innovation. Prize winners will utilize the award to conduct research to shine a light on new ways to encourage longer-term investment into radical innovation, leading to solutions to some of the world’s most burning questions, including social inequality, climate change, and sustainability. The Panmure House Prize is administrated in partnership with FCLTGlobal – the deadline for applications is 15 April 2021, with the first prize awarded in Summer 2021.