The Ryman Prize has been launched by the New Zealand Prime Minister, John Key.

The cash prize will be awarded to the best invention, idea, research concept or initiative that has enhanced the quality of life for the elderly, whether it is related to a retiremet vilage or not.

Set at US$150,000, it is open to anyone, anywhere in the world with a bright idea.

An international jury has been convened to consider applications. The winner will be announced in August