[SatNews] The EPO is sponsoring a prize in the European Satellite Navigation Competition. Society is now dependent upon satellite technology that could never have been imagined just 20 years ago. There are now a billion GPS devices in use around the world, mostly in mobile phones and vehicles. However, satellite technology has many other applications, from Earth Observation for agriculture and forestry, to logistics, aviation, and maritime navigation. The European market for this technology is growing and is expected to be worth 244 billion euros by the close of this decade.

The European Commission's Galileo Project will provide Europe with a satellite navigation system all its own (GNSS), independent of the U.S.-developed GPS system. To promote and support European companies and researchers developing new satellite applications, the EC runs the European Satellite Navigation Competition (ESNC) to encourage innovation at the forefront of space-related communication technologies.

As part of this year's competition, and for the first time, the EPO will award a prize for the best patented satellite technology. The winner(s) will receive a detailed economic study on the market potential of their invention, as well as being in with a chance to be shortlisted for next year's prestigious European Inventor Award—with all the positive publicity that such will bring. Submissions must be made by June 30, 2013.