By Maximilian Clarke

A £1 million prize recognising companies' achievement in engineering has been introduced to boost the profile of the crucial sector.

Named after Queen Elizabeth, the award has today (Thursday) been launched at a ceremony in London's Science Museum.

“This prize will put on the world stage the engineers and engineering feats that are too often only recognised by our own industry," said Institution of Civil Engineers (ICE) President Richard Coackley.

"It is further evidence that the importance of engineering to our society - particularly in driving economic growth - is recognised not only by the Government, but across the political spectrum. We hope this prize will excite and inspire the next generation of engineers and encourage them to look at engineering as the ‘career of choice’ — one that truly carries the potential to change the world.”