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The award targets product and process innovations as well as innovative technological services and their commercialisation. It is awarded annually since 2003.
Companies and individuals that engage in transferring research and development results in products, processes and technological services and their commercialisation, can apply for the Ludwig Bölkow Technology Award. The award is granted by the Ministry for Economic Affairs and the Chambers of Industry and Commerce in Neubrandenburg, Rostock and Schwerin. It acknowledges the cooperation between science and industry in Mecklenburg-West Pomerania. Proposals are assessed by an independent jury.
The total budget for the award is €10,000. The competition is named after Dr. Dr. hc. mult. Ludwig Bölkow who was born in Schwerin and co-founded Messerschmidt, Bölkow and Blohm (MBB; now EADS).
In 2017, three companies obtained the award: Die Kraken Power GmbH, for an innovative engine and battery system for diving robots, SCHOTTEL GmbH was awarded for a highly efficient new development in the field of gear drive and additionally a special digitisation price, donated by the BMV Bürgschaftsbank Mecklenburg-Vorpommern GmbH (2,000 euros) went to JAKOTA Cruise Systems GmbH from Rostock, was awarded for their fully integrated service, for detecting the operating status of a sea terminal.
Awards give incentives for creative and innovative ideas. They should be linked to other support measures in the region.