The Schumpeter Award, which was established in honor of the economist and social scientist Joseph A. Schumpeter (1883–1950), is presented in recognition of exceptional and outstanding accomplishments in the field of economics, economic policy and entrepreneurship. The focus of the award is on Schumpeter’s notion of “innovation” – which to him meant implementing new, forward-looking concepts and projects in the world of business, politics or economics.
This year's Schumpeter Award is presented to the European Commissioner for Competition and Digital Affairs, Margrethe Vestager, in recognition of her commitment to fair competition and tax justice in the European Union. The award will be presented by the Executive City Councillor for Cultural Affairs and Science, Veronica Kaup-Hasler.
For the first time, the Schumpeter Young Economist Award will be awarded to recognize outstanding achievements by young academics. This year's awardees are the German micro-economist Anja Prummer and the Ukrainian labour economist Maryna Tverdostup.
The award ceremony is followed by a keynote speech by Commissioner Vestager on the Digital Future of Europe.