Finance Colombia Ecopetrol to Award More than $125,000 in Innovation, Entrepreneur Prizes

Colombian state-controlled oil company Ecopetrol will hand out innovation and entrepreneurship awards later this year that will pay out more than $125,000 USD (380 million pesos) in prizes to the winners.

Students, entrepreneurs, business owners and other professionals can submit proposals through August 13 to have their applications reviewed. In all, the company plans to name 50 winners in the second annual Ecopetrol Awards, with prizes being awarded in various categories and regions.

The five top winners may receive more than $8,000 USD (25 million pesos) in this initiative, which is also being supported by Pontifical Bolivarian University, Acipet, Colciencias, and Renata. Another six winners will receive around $3,000 USD, six more will earn $2,000 USD, and up to 30 others will walk away with around $1,000 USD.

The innovation category focuses on six topics related to hydrocarbon exploration, development and production, while the entrepreneurship category looks to address agroindustry, water resource recovery, social inclusion, economic diversification, and irrigation systems.

The first Ecopetrol Awards in 2016 received 1,860 proposals from people in 464 locations and 58 universities.

Photo credit: Ecopetrol