FREQUENTLY ASKED QUESTIONS

The Panmure House Prize is an annual award of US$75,000 that recognises researchers who apply an ‘Adam Smith’ approach to their research. The funding is awarded in order to support the continuation of research that has been identified to have the potential to create meaningful, lasting impact across society, the economy, environment and/or culture. 

The Prize is open to academics from all disciplines, at any career stage, and from anywhere in the world. 

We actively encourage applications from researchers across the sciences, social sciences, humanities, arts, and interdisciplinary fields. You do not need to be an economist or work directly on Adam Smith to apply. 

Previous Prize winners have come from a wide range of academic backgrounds, with research spanning areas such as:

• Long-term investment models in medical research

• Collective thinking and cultural innovation

• Policy, ethics, technology, and societal change 
  

Panmure House is committed to supporting inclusive, diverse perspectives that contribute to a better future. We encourage you to apply and look forward to learning more about your research.  

To ensure Panmure House operate a fair and transparent process, we are unable to make any amendments to applications, or accept applications, once the submission date has passed.  We are also unfortunately unable to accept applications from researchers affiliated with Heriot-Watt University.

Applications for the 2026 award cycle will open in February 2026. Applications close Tuesday 28 April 17:00 (BST)

Prize recipients use the award to further their research from their home institution. 

Winners are supported to use the Prize resources to cover costs relating to communicating and expanding their field of research including but not limited to:

• Advancing and publishing their research in peer-reviewed journals.
• Share their findings through national and international media.
• Attend conferences, travel and accommodation to communicate their work
• Support teaching buy-out to allow them to further advance their research
• Engage in CPD (Continued Professional Development)
• Administration or data costs 
  

The Prize offers flexibility, allowing researchers to shape their work in ways that best suit their discipline and methodology.

We encourage all applicants to read the Submission Guidance Page carefully before embarking on a submission. A Submission checklist is also available to support your application process.  
Please note:

• Submissions must be in English
• Only PDF files are accepted (no Word, JPEG, etc.)
• Applications cannot be edited after submission
• Late or incomplete submissions cannot be accepted
  
• Depending on your institution the submission form may not save progress, so you may need to be prepared to submit in one sitting

We encourage all applicants to read the Submission Guidance page and key documents carefully before embarking on a submission.  
 
All applications must be submitted via the Panmure House Prize online submission form on the Panmure House website. A submission checklist is available here. 

Panmure House defines an early-career researcher as someone who is between 3 and 15 years post-completion of their PhD. 
 
This definition reflects the wide variation in career development across disciplines and individual circumstances. We recognise that personal milestones may require career breaks and want to ensure these are taken into account when assessing applications, particularly when comparing candidates at different career stages.

This approach is especially important in the post-COVID context and in supporting researchers returning to work following parental, health or other leave from the workplace. It also ensures that individuals who have taken non-traditional routes into academia are not disadvantaged when applying.

The money will be paid directly to the institution with which the winner is affiliated. The institution will deploy it as agreed within the Institutional Agreement.

No. Estates and indirect costs are not eligible to be covered or claimed against the Panmure House Prize.

We will tally the exact amount in GBP or other currencies via a standard USD/ GBP conversion at the time of making the financial transfer.

Click here to find out more about our judging panel.

Submissions for the Panmure House Prize are assessed by the esteemed Panmure House Prize Judging Panel. Applications are scored against the following criteria: 

• Prospective practical application of the research
• Originality and innovation of the contribution
• Disciplinary impact, including the influence of the candidate's research within their field and across interdisciplinary areas
• Potential for ongoing and future research