I just saw this prize and thought it might be worth sharing here. I've pasted text from the website into logical sections. I have not independently investigated any of these claims.

Introduction

The first Manchester Prize will be awarded to the most innovative and impactful AI solution which demonstrates social benefit by overcoming challenges in the fields of energy, environment and infrastructure.

Up to ten finalist teams will initially receive £100,000 each, a generous package of non-financial support, and access to free computing power to develop their innovation. One finalist will win the £1 million grand prize in early 2025.

The prize is funded by the Department for Science, Innovation and Technology (DSIT) and is being delivered for DSIT  by Challenge Works.

Judging criteria

• Innovation: Teams should demonstrate how their solution is an innovation in artificial intelligence (AI), compared to the current state of the art. This may be innovation in the underlying AI, or in a novel application of an existing AI approach, or both (innovation in business model, marketing or service design is not taken into account).
• Impact: Teams should clearly define what impact they aim to have and why they expect this to arise from their solution. The impact must relate to the challenge statement, but it does not need to align with any of the example use cases set out.
• Long term viability: Teams should articulate why there is a credible path to adoption (commercial or non-commercial) for their solution, and what their plan is to pursue it.
• Feasibility: The team should show how their scientific and technical approach is appropriate and how the team has the capacity to deliver a working prototype by the start of 2025.
• Safety and ethics: The team should show they are taking action to showcase best practice in responsible AI.

Eligibility 

• Eligible entrants: Entries can come from individuals, companies and other types of organisation (e.g. non profits, charities, research and technology organisations). In the case of individuals, the lead entrant must be at least 18 years of age.
• Consortia entries: Teams may enter as consortia of any combination of the above, but must nominate one individual or organisation as the lead entrant. The lead entrant will enter into contracts and receive funding from the Manchester Prize. Organisations and individuals other than the lead entrant can be based outside of the UK.  
• Geographical scope: The lead entrant must be based in the United Kingdom, and be able to receive funds into a UK bank account in the name of the lead entrant. 

In addition to these requirements, teams will be subject to due diligence checks, and teams which are made up of individuals will need to have registered a legal UK entity and have a business bank account in place prior to receiving any finalist award.

Timeline

In the entry phase, opening 7 December 2023, teams develop their ideas and proposals, working towards submitting their entry by the final deadline of 1 February 2024 by 12 noon (GMT). Phase 1 culminates with up to ten entrants being selected as finalists, and each receiving an award of £100,000 in April 2024. 

The finalist phase, which begins in May 2024, sees teams developing their ideas into a working prototype. In addition to their £100,000 grant, finalists will receive non-financial support in the form of a package of free compute, profile-building and match-making sessions with key stakeholders (such as problem-holders, potential adopters, and investors). In January 2025, teams demonstrate their prototype and make a final submission to be considered for the grand prize. In March 2025, the best team, selected according to the judging criteria, is awarded the grand prize of £1 million.