Enter and you could win a £20,000 development fund to help you turn your carbon saving idea into a reality. If shortlisted, you'll also be considered by Siemens for a paid internship opportunity, which will boost your career and give you valuable industry experience.

London is already at the centre of innovation for green technologies with the capital's low carbon and environmental goods and services sector is worth an estimated £27 billion. 

The Mayor of London, Boris Johnson said: "London’s green economy is booming and I want to make sure that our brightest young minds are firmly engaged with its huge potential. I am convinced that somewhere out there is the next big idea that will not only help us reduce our carbon emissions but also encourage huge investment and growth in the capital."

Arthur Kay, Low Carbon Prize winner in 2012 and founder of Bio-Bean LTD, said: "Thanks to the Mayor's Low Carbon Prize I've been able to make my dream a reality and take my idea to turn coffee grounds into bio fuel, saving carbon emissions and tax-payer money, into the market place. I want to encourage as many students as possible to get involved, put their thinking caps on and enter this year's competition for their chance to take up this fantastic opportunity."

Applications will be judged by a panel of experts, including representatives from the Mayor's Office, experts in climate change mitigation and successful business leaders.

The closing date for submitting your entry is midday 17th May 2013.

For more details on how to enter the competition click here.