One for the Innovators
The Steel Reef Prize exists because too many awards focus on tech or social impact, leaving physical product creators and purely commercial ideas overlooked.
We’re here to back the makers and entrepreneurs who are building tangible, market-driven innovations—because you deserve a spotlight too
Empowering the Makers
The Steel Reef Prize celebrates the entrepreneurial spirit behind physical products. With awards of £500, £1,000, and £5,000, we aim to support the next generation of creators bringing commercially viable products to life.
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Orbit Award - £5,000
Ready to go to market? Our Orbit Award may be just what you need to put the cherry on top of your new product launch
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Booster Fund - £1,000
Ideated and ready to prototype? Our Booster Fund helps you bring your idea off the drawing board and one step closer to reality
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Ignition Grant - £500
Ready and set on your idea? It's time to go out and research market and manufacturing feasibility with our early-stage Ignition Grant
How We Select Winners
Applications are reviewed and judged by a small panel from various fields, including business, design, and product development. Our three-step process ensures every applicant has a fair shot.
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1. Initial Review:
Applications are screened for completeness and eligibility
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2. Shortlisting:
The Steel Reef team reviews all applications and selects the strongest candidates
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3. Pitching:
Shortlisted candidates present their ideas in a 5-minute pitch followed by a 5-minute Q&A with our judges
FAQs
Who can apply?
The Steel Reef Prize is open to UK-based creators under 30 at the time of applying. Whether you're an entrepreneur, designer, or maker, if you're developing a physical product—from fashion and beauty to automotive, health, or consumer goods—you’re eligible to apply. No prior funding or business experience is required, just a commercially viable idea.
Is there an application fee?
No, applying is completely free.
Do I need a fully developed product to apply?
No, but you should have a clear concept, design, or prototype in progress. The prize is meant to help you move from idea to reality.
Can I apply if I’ve already launched my product?
Yes, as long as your business is still in the early stages. The £5,000 tier is designed to support near-market-ready products.
When will I hear from you?
Applications for the Steel Reef Prize close on July 31st. Once submitted, all applications are reviewed, and shortlisted candidates will be contacted shortly after. If you’re selected, you may be invited to a brief online introduction with our team—just a quick chat so we can get to know you and your idea better before final decisions are made.
What are the terms of the prizes?
Winners will receive their prize as a one-time cash grant, with no repayment or equity required. The funding is intended to support the development of your physical product—whether that means prototyping, manufacturing, or scaling.
There are no restrictions on how the funds must be used, but recipients may be asked to provide a short update on their progress. The prize does not come with ongoing obligations, though we may feature winners and their projects in Steel Reef Prize communications.