The European Space Agency (ESA) has launched the fourth European Satellite Navigation Competition, to offer a grand prize of 10,000 euros ($13,600) for a groundbreaking satellite navigation idea.

Competitors can submit their ideas in any of 10 European regions by the July 31 deadline; each region will select five finalists. The winner, to be announced Oct. 23, will be provided an office for six months and given support to convert the proposed idea into a business product.

The competition, which began in 2004, is sponsored by the Bavarian Ministry for Economics, Transport, and Technology, and supported by the German Aerospace Center (DLR) and ESA through its Technology Transfer Program.