Dyson will hand over £10,000 to the uni student with the best idea for a tech product, and a further £10,000 to his or her university.
Called the James Dyson Awards, the competition is after innovative techy ways to solve problems.
Previous winners include the AirDrop, which is a design to better hydrate plants in very arid conditions, the Longreach, which shoots a buoyancy aid out like a grenade launcher, and an Automist – a kitchen tap attachment that will fight fires.
James Dyson said: “Put faith in frustrations and solve the problems that cause them. We’re looking for the people who rather than accept a problem and make do, design a simple and effective solution.”
He added, “The James Dyson Award champions the ideas of young designers and engineers – encouraging them to develop inventions, defy their critics, and turn them into commercial successes for themselves and their economy.”
There’s still a week to get your designs in if you think you have the next wonder gizmo up your sleeve.