Royal Philips Electronics (NYSE: PHG, AEX: PHI) today announced the launch of the Philips Livable Cities Award, an initiative designed to generate practical, achievable ideas for improving the health and well-being of people living in cities. Individuals, community or non-governmental groups and businesses are eligible to participate in the Award program that comprises a total prize fund amounting to 125,000 Euros.
With the aim of developing simple solutions to the complex challenges faced by the residents of cities today, the program consists of three distinct award categories:
- Well-being Outdoors: initiatives that will help citizens feel safe in public spaces or help create city identity and foster a sense of belonging;
- Independent Living: initiatives that will help the growing number of elderly people living alone to feel secure and comfortable in a city, with appropriate access to healthcare;
- Healthy Lifestyle at Work and Home: initiatives that will support a healthy body and mind, whether through a person's surroundings or via other essentials such as exercise, sleep and diet.
An overall award of 75,000 Euros will be granted for the best idea submitted in any of the three categories. There will also be two additional awards of 25,000 Euros each for the best submissions in the two categories not covered in the overall award. The award criteria will be developed by an international panel of experts chaired by Richard Florida, author of The Great Reset , Director of the Martin Prosperity Institute and Professor of Business and Creativity at Rotman School of Management at the University of Toronto.
"Philips understands challenges that cities are facing today, such as caring for an aging population, the need for security and managing health in an urban environment. As a company, we already work to help address these issues all over the world," said Gottfried Dutine, Chief Officer Innovation & Markets and Member of Philips' Board of Management. "Now, with the support of internationally recognized experts in urban environment, we hope that the Philips Livable Cities Award will inspire simple, achievable ideas from all communities, to improve the health and well-being of people living in cities."