LSE Innovation Challenge (2024)

The LSE SHAPE the World Innovation Challenge is a call for LSE faculty and academic researchers to submit ideas based on their research to help meet the challenges faced by the world outside of academia.

We consider innovation in SHAPE disciplines (i.e. Social Sciences, Humanities and Arts for the People and Economy ) as new ideas, processes and products developed from research that deliver impact through the achievement of better outcomes. We expect that those types of outcomes are both scalable and sustainable.

To determine the scalability and sustainability of your impact activities, we need to identify potential users and beneficiaries from your research. We consider this identification and engagement process, a market validation process.

Whether it leads to the creation of a new spinout company or is an idea that needs the collaboration of a commercial partner or policymaker, this challenge is an opportunity for researchers to find a pathway to create a positive impact on one of the most important issues of our time.

You will also discover the support available for developing ideas at the LSE, such as sources of translational funding, entrepreneurial training, incubators and mentorship.

WHAT is it?

It is a framework of support activity and resources that leverages all the expertise within LSE Research and Innovation to increase the School’s exposure to external stakeholders such as UK Research and Innovation (UKRI) and its research councils like the Economic and Social Research Council (ESRC). It is also an opportunity to explore, identify, test, and implement models for the delivery of sustainable impact at scale. Ideas in the following categories are particularly encouraged:

  • The Macro Economy
  • Business, Trade and The Future of Work
  • Inequality and Social Infrastructure
  • Health and Social Care
  • Environment and Climate Change
  • Welfare and Public Policy
  • Governance and State Capacity
  • Democracy and Rights

All ideas will be considered, in that each submission will receive the same support as any new LSEi project, and in addition, will be entered into the competition element of the challenge.

The competition element of the challenge will involve selecting a winner and up to two runners up by a panel of LSE senior academic and professional staff members as well as expert partners. The winning prize will be £10,000. The prize for each runner up will be £5,000. The prize money in all cases will be spent on market validation and commercialisation activities, such as market research or the creation of presentation materials.

Please note, buyout of academic time associated with carrying out these activities is not eligible; precise details of what the money can be spent on will be provided to the winners.

WHO is it for?

It is for all academic researchers across all academic units of the London School of Economics and Political Science. All academic, research and policy staff are eligible to apply. Please note, support for students, including PhD students whose LSE-sponsored research is eligible here, will be supported by LSE Generate. Therefore, students are not eligible to apply via the Innovation Challenge route.

We would particularly like to encourage researchers to engage with us and each other to discover the support available to help them create sustainable long-term impact from the outcomes of their individual or collaborative research.

If once we discuss your idea, we find that it is not suitable for Innovation Challenge funding, we will work with you to identify other means to generate impact. We will aim to signpost you to other internal (or external) funding sources available as appropriate.

WHEN is it?

2023/24 Round One

SHAPE the WORLD Innovation Challenge 2023/24 first round call deadline for submissions to innovation@lse.ac.uk

Thursday 4 January 2024, 4pm UK time

Pitch to panel meeting held – exact date/time TBC

15-17 January 2024

Prize winners announced

Monday 22 January 2024

Market validation and commercialisation activities start

Thursday 1 February 2024

Market validation feedback and action plan agreed with prize winners

Friday 31 May 2024

2023/24 Round Two

SHAPE the WORLD Innovation Challenge 2023/24 second round call deadline for submissions to innovation@lse.ac.uk

Thursday 6 June 2024, 4pm UK time

Pitch to panel meeting held – exact date/time TBC

10-17 June 2024

Prize winners announced

Friday 21 June 2024

Market validation and commercialisation activities start

Monday 1 July 2024

Market validation feedback and action plan agreed with prize winners

Saturday 30 November 2024

WHY get involved?

The Innovation Challenge is one of the perfect mechanisms to assist potential applicants who would consider applying commercialisation thinking to their research and take advantage of the introductory workshops that are available through the AHRC/ESRC Catalyst programme. This programme is designed to provide academic researchers with an understanding of commercialisation as a route to impact.

HOW do I apply?

It’s simple to apply - download ourshort application form

The Panel will assess the submitted ideas by considering the following questions as examples:

  • the clarity of the nature of the problem
  • who has the problem and what would it mean to them to solve it?
  • who would be the beneficiaries/users of the idea?
  • how many beneficiaries would have that problem?
  • are there already providers of similar solutions?
  • how different is the proposed innovation challenge idea?
  • what is the current state of development?
  • what would we need to do to deliver the solution to beneficiaries?
Previous Challenge Winners

The first challenge opened on Monday5 September 2022 and all applications received before Friday 14October 2022 were reviewed by the panel which decided the first three places as follows:

First: Jens Koed Madsen from the Department of Psychological and Behavioural Science was awarded a prize of £10,000 to develop a computational model that can scenario-test when and why information systems become vulnerable to disinformation.

Second: Adelina Comas-Herrera from the Care Policy and Evaluation Centre was awarded a prize of £5,000 to build the Global Observatory of Long-Term Care to facilitate cross-national learning to improve and strengthen care systems in response to increased longevity.

Third: Marie Oldfield from the Department of Mathematics was awarded a prize of £5,000 to develop an evidence-based audit and certification process for the development of ethical AI.

The final LSE Innovation Challenge of 2023 closed on 4 January 2024. The panel made awards toDr Zsofia Szlamka from the Care Policy Evaluation Centre for her project offering a compass to navigating digital mental health solutions in the UK for mental health professionals and mental health service users, and to Dr Maxi Heitmayer, from the Department of Psychological and Behavioural Science for his project looking at an innovative approach to individual responsible digital habits.

Other applicants were recommended for Innovation support to refine their project ideas in advance of future Innovation Challenge Calls.

Contact LSEi via innovation@lse.ac.uk to discuss your potential ideas and receive more information about the scheme and support available to you.

LSE Innovation Challenge (2024)

FAQs

What is the acceptance rate for LSE social innovation and entrepreneurship? ›

1 in 5 applicants to this programme received an offer.

How do you prepare for an innovation challenge? ›

  1. 1 Understand the challenge. The first step is to understand the challenge you are applying for. ...
  2. 2 Develop your idea. The next step is to develop your idea into a feasible and viable solution. ...
  3. 3 Build your prototype. ...
  4. 4 Craft your pitch. ...
  5. 5 Prepare your submission. ...
  6. 6 Learn and network. ...
  7. 7 Here's what else to consider.
Dec 1, 2023

What are the hardest courses to get into LSE? ›

What are the most competitive courses at LSE? All of LSE's courses are extremely competitive, however the most competitive courses are: Economics with Economic History, Government and History, Government and Economics, Social Policy and Economics, and Politics and International Relations.

Is LSE harder to get into than Oxbridge? ›

Both the universities are hard to get into, mainly because both of them are ivy league universities. But statisctically, LSE appers to be have a more stringent acceptance rate, often below 9%. Oxford acceptanace rate stands at 17% making it relatively more accessible.

How to answer what is the most innovation interview question? ›

Example: "I'm best at coming up with ideas that solve an immediate problem and can make a process more efficient. Creating ideas that bring fast results and don't require a lot of steps is where I feel the most innovative. I'm also great at coming up with ideas on how to solve technical computer errors."

What makes an innovation challenge successful? ›

Innovation challenges leverage a structured framework and defined scope to collect multiple ideas for solving pressing business problems in creative, effective ways. The time frame, audience, and topics may vary, but the challenge should align with the organization's strategic objectives for the best results.

What is an example of an innovation challenge? ›

Other notable examples include the European Social Innovation Competition, the Helsinki Energy Challenge, the Microsoft Imagine Cup, and NASA's Centennial Challenges. Through innovation challenges, companies can drive technological advancements and push the boundaries of what is possible.

What is the acceptance rate for LSE courses? ›

London School of Economics Acceptance Rate For Undergrads
Undergraduate CourseAcceptance Rate
BSc Government and Economics6.2%
BSc Government and History5.6%
BSc Politics and International Relations9.7%
BSc International Relations and Chinese14%
3 more rows

What are the odds of getting into LSE? ›

LSE has always been highly selective in its admissions process, and recent data suggests that LSE's acceptance rate has hit a historic low, with an acceptance rate of just 12.2% for the 2021-2022 academic year.

What is the acceptance rate for LSE MFE? ›

MSc Finance is a particularly competitive course at LSE. The 2021 acceptance rate was just 6.2%, meaning less than 1 in 17 applicants were successful in receiving an offer. It's therefore important to ensure your application stands out to LSE's admissions officers.

What is the acceptance rate for LSE PE? ›

Most Competitive among programs with at least 5 offers
MSc Economics and Management4.9%
MSc Finance and Private Equity8.3%
MSc Management and Regulation of Risk9.9%
MSc Management and Economics10%
MSc Inequalities and Social Science12%
5 more rows

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