May 28, 2019 Print

The Institute for Economic Affairs in London is now accepting essays for the third annual Richard Koch Breakthrough Competition. The first-place prize of £50,000 GBP (about $64,000 USD) will be awarded to the best and boldest entry outlining a free-market “Breakthrough” policy “to give everyone in society, whatever their background, a real opportunity to succeed on their own merit.”  

To be considered, competitors must propose a single policy initiative that would:

  • reduce the dependency of low-income citizens on the state, and encourage an entrepreneurial and ambitious mindset across the whole of society.
  • improve the economic opportunities for low-income citizens.
  • increase the economic freedom of the population at large.
  • be politically possible.

“Not everyone is given an easy start in life,” said entrepreneur Richard Koch, a member of the judging panel and sponsor of the competition. “The goal of a free and fair society is to make sure that all people, regardless of background or hardship, are given equal opportunities to make the most of their potential and to put their skills to good use. I want new, exciting, and radical free-market ways to jump-start personal opportunity, freedom, and fulfillment.”

The competition will have a two-stage entry process, with entrants initially expected to submit a 500-1,000 word abstract of their general idea. The deadline for the first round is 12:00 UTC, June 27, 2019. The top 10-15 essays will then be chosen to move on to the second and final rounds, where entrants will be asked to submit a more detailed and comprehensive essay expanding on their idea. The final judging panel will then choose the winners, who will be announced at the awards ceremony on October 10, 2019.

The judging panel will consist of Richard Koch, British MP Dominic Raab, Director General of the IEA Mark Littlewood, and Associate Director at the IEA Kate Andrews. While the first-place winner will receive £50,000, smaller prizes of £2,500, £2,000, and £1,500 will be awarded to finalists.  

We urge our Atlas Network partners to participate in this competition and look forward to learning which policies they find most burdensome.  

Participants may register here.