10th Koç University Rahmi M. Koç Medal of Science goes to Professor Ufuk Akçiğit

Professor Ufuk Akçiğit is the recipient of this year’s Koç University Rahmi M. Koç Medal of Science, which was launched by Koç University in 2016 and is awarded annually to promote the advancement of science.

Professor Ufuk Akçiğit received the award for his pioneering international contributions to economics, particularly his theoretical and empirical work in innovation, productivity, entrepreneurship, income distribution, and social mobility. Dr Akçiğit has been a faculty member at the University of Chicago Department of Economics since 2020. He is particularly distinguished for his research combining the fields of innovation, entrepreneurship, and economic growth. By 5 9 utilizing large-scale firm data and macroeconomic models, he examines the impact of ideas and policy choices on long-term prosperity. Advising international institutions such as the IMF, the World Bank, and the OECD on growth strategies, Professor Akçiğit continues his work as a pioneering scientist at both the global and national levels, focusing on productivity, innovation, and inclusive development.

Professor Metin Sitti: “It is especially meaningful for us to be presenting the Rahmi M. Koç Medal of Science to an alumnus this year.”

Speaking at the award ceremony, Koç University President Professor Metin Sitti said: “This year’s medal recipient is a distinguished scientist who has made pioneering international contributions to economics, and even more importantly, he is one of our alumni… It is especially meaningful for us to be presenting this award to an alumnus this year. For this success is the most tangible and shining example of our founder Vehbi Koç’s vision of ‘Serving the country through science’. That a Koç University graduate has received the Science Medal this year represents more than an individual’s success. It is a brilliant manifestation of the ‘Koç University Alumni Impact’ that is growing on a global scale. We are just as proud of our alumni’s heartfelt commitment to our university as we are of their professional achievements. Through their donations, scholarships, and project support, they help cultivate a new generation of scientists, ensuring that what we may call the Koç ethos is passed on from one generation to the next. Today’s honoree is a scientist making a global impact. Yet his story is not merely one of individual success. It reflects the scientific curiosity, interdisciplinary spirit, freethinking, and global vision cultivated at Koç University.”

Continuing his remarks, Professor Sitti said: “In its 2025 Scientific Background on Economic Sciences report, the Nobel Committee identifies only four researchers as the most influential figures shaping the field globally. Three of them are already Nobel laureates. The fourth is Professor Ufuk Akçiğit, whom we are honoring here today. The report clearly demonstrates that his research on innovation, growth, and inequality stands among the defining references guiding the field of economics. This serves as powerful evidence of the impact our alumnus is making on the global scientific stage–a level of achievement that is a source of immense pride both for our country and for our university.”

Professor Ufuk Akçiğit: “Any country seeking to make a breakthrough must invest in basic sciences.”

Speaking at the ceremony, 2025 Koç University Rahmi M. Koç Medal of Science recipient Professor Ufuk Akçiğit said: “If there is a story here, it is this: in our research, we never encounter weak universities in successful countries. Successful nations are always synonymous with strong universities. With this in mind, I therefore express my gratitude to the Koç family, to Rahmi M. Koç and Semahat Arsel, and to Vehbi Koç whose memory we cherish.

“What matters most to me is the recognition our work receives from international policy-making institutions. In our The Middle-Income Trap report, we considered in detail such issues as why nations fall into the middle-income trap and why they cannot effectively leverage creative destruction. I would like to emphasize that the role of basic science is critical. Any country seeking to make a breakthrough must invest in basic sciences. In this regard, I therefore salute the foresight of both Rahmi M. Koç and Vehbi Koç. Approaching science–one of the most critical issues for this country–as great visionaries, they established Koç University. I extend my gratitude, both on my own behalf and on behalf of my colleagues, for this award which holds immense value for me.”