[Helsinki] In the face of unexpected funding challenges, Technology Academy Finland, an independent private foundation, remains steadfast in its commitment to honor groundbreaking technological achievements with the esteemed Millennium Technology Prize. Despite the Finnish Government's recent decision to discontinue funding for the prize money, the 2024 award ceremony will proceed as scheduled on October 30, 2024, thanks to the availability of alternative funds.
In a surprising development outlined in the new Government Programme of Finland, published on June 16, the Finnish state will no longer allocate the one-million-euro prize money for the Millennium Technology Prize. Since its inception in 2004, the prize has been funded biennially from the budget of the Ministry of Economic Affairs and Employment.
Undeterred by this setback, the Board of Technology Academy Finland has made a resolute decision to proceed with the 2024 Millennium Technology Prize, maintaining the integrity and prestige of the esteemed award. While future prizes will seek support from alternative public or private funding sources, the upcoming Millennium Technology Prize, valued at one million euros, will be bestowed on October 30, 2024, in accordance with the existing plans.
"The Millennium Technology Prize continues to exemplify Finland's unwavering dedication to advancements that enhance the quality of life on our planet. In these critical times, the fundamental principles of the prize hold greater significance than ever: science, evidence-based technological innovations, and informed decision-making are vital in tackling the world's most pressing challenges," emphasized Minna Palmroth, Chair of the Board of Technology Academy Finland and Professor of Space Physics at the University of Helsinki.
Since its inception, Technology Academy Finland, along with its esteemed partners, has borne all expenses related to the Millennium Technology Prize, excluding the prize money itself. Notably, the prize's partners comprise significant companies operating within Finland, along with the majority of Finnish universities, demonstrating a shared commitment to fostering innovation and progress.
The nomination period for the 2024 Millennium Technology Prize remains ongoing, having commenced in early April. Organizations and individuals are encouraged to submit nominations until the deadline of October 2023. This prestigious accolade recognizes exceptional technological advancements that have the potential to transform our world for the better.
