The Downey Prize is a fund that was raised by the colleagues and friends of the late Mr Joseph Downey. He was Secretary and Bursar of University College Cork from 1912 to 1944. The prize is awarded on the results of the summer Bcomm Degree examination. It is worth €750. It is awarded to a student that the Academic Council considers to have achieved a sufficiently high standard on the examination.
To be eligible candidates have to have been a student at University College Cork for the four years immediately preceding the examination. They must also have not passed the first university examination in commerce more than three years before the BComm Degree examination is taken.