The prize is awarded every two years to internationally renowned economists for outstanding scientific achievements in economic and innovation research. The prize is endowed with 10.000€, bestowed from the Schumpeter School Foundation and sponsored by Stadtsparkasse Wuppertal (City of Wuppertal Savings Bank). The first Schumpeter School Award winner was Prof. Dr. David Bruce Audretsch from Indiana University in 2011.
Yesterday during a Schumpeter School doctoral seminar Prof. Harhoff discussed the topic "Cumulative Thesis" with young economists and gave input on their research projects. Today a workshop at international level on "Inventors - Motives, Contexts, Effects" took place previously to the award ceremony. During the workshop experts approached the topics knowledge management, entrepreneurship and patent system.
The Schumpeter School Award refers to the namesake of the business school: Joseph A. Schumpeter is one of the most renowned economists of the 20th century. He taught and researched in Austria, Germany, and the US, engaged in economic policy, and, in 1926, substantially supported the founding of the magazine "Der deutsche Volkswirt" (The German National Economist), predecessor of "Wirtschaftswoche" (The German Business Weekly). Schumpeter is considered as one of the pioneers of innovation research and dealt in his fundamental research with the role of innovation and entrepreneurship for the economic development. The Faculty of Economics of the University of Wuppertal has extended its name in 2008 and is now called "Faculty of Economics- Schumpeter School of Business and Economics".