Business Awards

This award recognises and celebrates large, medium and small companies that have excelled in innovation, delivering significant economic and/or societal impact through the application of physics.

Why apply

As the winner of this award you can expect:

• prestigious validation of your innovative application of physics and its impact
• collateral to enhance funding and investment applications for future developments
• an increased confidence in your business innovation, especially among new customers
• evidence of company excellence in the commercial application of physics for the recruitment of talented, young physicists

As the winning company you will:

• be invited to attend and exhibit your award-winning innovation at our annual IOP Business Awards parliamentary reception, providing an opportunity to network with industry leaders, funders/investors, and government representatives
• receive a trophy and an e-trophy for use on marketing material and websites
• receive three free IOP Memberships per company
• have your award-winning innovation highlighted in IOP marketing material and social networks
• have the opportunity to increase your profile across the IOP network through invitations to participate in relevant events, workshops, roundtables and panels.
• be able to participate in our Business Innovation and Growth (BIG) Group, making connections to help build an even stronger business. 

Eligibility

This award is open to corporate businesses and medium-sized companies based in the UK or Ireland (or a subsidiary) and who demonstrate excellence in the innovative application of physics to a product or service, leading to:

• business improvements or growth in terms of turnover or job creation or
• substantive societal and/or other impact as a result of the innovation

To be eligible, the physics-based element of your product must have been developed in the UK and/or Ireland.

How to apply

Applications are now closed.

View the application guidance for the Business Innovation Award (PDF, 187KB)

Please note businesses cannot be nominated by a third party and applications must be made by an authorised representative at the business.

If you require any assistance, please email [email protected].

Useful links

• Application guidance: IOP Business Innovation Award (PDF, 180KB)
• Video: Applying for an IOP Business Award
• Previous IOP Business Award winners

This award recognises and celebrates young companies with a great business idea founded on a physics invention, with the potential for business growth and significant societal impact. 

Why apply

Receiving the Business Start-Up Award is a quality seal for a product, validation that the physics and its implementation is sound and that the business concept has merit. It will help a young company by:

• improving future investor and customer confidence in the company and product, potentially paving the way for future funding and sales
• providing constructive feedback from seasoned business leaders on the award judging panel
• raising the profile of the company and its product

As the winning company you will:

• be invited to attend and exhibit your award-winning innovation at our annual IOP Business Awards Parliamentary Reception, providing an opportunity to network with industry leaders, funders/investors, and government representatives
• receive a trophy and an e-trophy for use on marketing materials and websites
• receive a free taster of access to our IOP Accelerator
• receive three free IOP Memberships per company
• have your award-winning innovation highlighted in IOP marketing material and social networks
• have the opportunity to increase your profile across the IOP network through invitations to participate in relevant events, workshops, roundtables and panels.
• be able to participate in our Business Innovation and Growth Group, making connections to help build an even stronger business

Eligibility

This award is open to small and medium-sized companies. To be eligible your company must:

• have been incorporated either in the UK or Ireland
• be beyond the prototype stage that proves functionality
• provide a sound business plan aiming to make a profit
• have some proof of validation of a need for the product, ideally by a potential customer
• have developed and manufactured the physics-based element of your product in the UK and/or Ireland 

How to apply

Applications are now closed.

View the application guidance for the Business Start-Up Award (PDF, 218KB)

Please note businesses cannot be nominated by a third party and applications must be made by an authorised representative at the business.

If you require any assistance, please email [email protected].

Useful links

• Application guidance: IOP Business Start-Up Award (PDF, 216KB)
• Video: Applying for an IOP Business Award
• Previous IOP Business Award winners

^{Above: Representatives from Metasonixx, 2024 IOP Business Start-Up Award winners}

The Lee Lucas Award recognises and celebrates very early-stage companies taking innovative products into the medical and healthcare sector. 

As the winning company you will:

• receive £5,000 prize money
• be invited to attend and exhibit your award-winning innovation at our annual IOP Business Awards Parliamentary Reception, providing an opportunity to network with industry leaders, funders/investors, and government representatives
• receive a trophy and an e-trophy for use on marketing materials and websites
• receive a free taster of access to our IOP Accelerator
• receive three free IOP Memberships per company
• have your award-winning innovation highlighted in IOP marketing material and social networks
• have the opportunity to increase your profile across the IOP network through invitations to participate in relevant events, workshops, roundtables and panels.
• be able to participate in our Business Innovation and Growth Group, making connections to help build an even stronger business

Eligibility

This award is open to very early-stage companies. To be eligible your company must: 

• be taking innovative products into the medical and healthcare sector
• have been incorporated in the last three years, either in the UK or Ireland
• provide a sound business plan aiming to make a profit
• have some proof of validation of a need for the product, ideally by a potential customer
• be able to show how the prize money would add value to your organisation
• have developed and manufactured the physics-based element of your product in the UK and/or Ireland 

How to apply

Applications are now closed.

View the application guidance for the Lee Lucas Award (PDF, 200KB)

Please note businesses cannot be nominated by a third party and applications must be made by an authorised representative at the business.

If you require any assistance, please email [email protected].

Useful links

• Application guidance: Lee Lucas Award (PDF, 200KB)
• Video: Applying for an IOP Business Award
• Previous IOP Business Award winners

^{Above: Representatives from Crainio, 2024 IOP Lee Lucas Award winner}

We also award the following three prestigious medals and prizes to individuals for their contribution to the application of physics in an industrial, commercial or business context: 

Katharine Burr Blodgett (Gold Medal and Prize)  

For outstanding and sustained contribution to the application of physics in an industrial or commercial context 

This medal comes with a prize of £1,000 and a certificate. 

Find out about Katharine Burr Blodgett Medal and Prize recipients 

Dennis Gabor (Silver Subject Medal and Prize) 

For distinguished contributions to the application of physics in an industrial, commercial or business context 

This medal comes with a prize of £1,000 and a certificate. 

Find out about Dennis Gabor Medal and Prize recipients 

Clifford Paterson (Bronze Early Career Medal and Prize) 

For exceptional early-career contributions to the application of physics in an industrial or commercial context 

This medal comes with a prize of £1,000 and a certificate. 

Find out about Clifford Paterson Medal and Prize recipients 

How to apply

Applications for the 2025 IOP Medals and Prizes are now closed. Further information will be provided on the 2026 Medals and Prizes in due course.

Applicants can either self-nominate or nominate another individual.  

If you require any assistance with your application, please email [email protected].