'Born To Die' songstress Lana Del Rey has announced details of a forthcoming contest in which she will award huge monetary prizes to winning groups in both the USA and Europe.

Writing on her official Twitter page earlier today (February 13), the American beauty explained that full details are still to come but the basis of the project will be "innovative" thinking.

She has asked people to come up with ideas on how to advance technology and revealed that the winning groups will be given grants of $100,000:

"Submissions begin next week for our institute of innovative thinkers. We're donating $100,000 (£62,500) in America and $100,000 in Europe to 10 groups of people in each territory with innovative ideas aimed at forwarding technology and improving sustainability. Details to come next week."

Watch Del Rey's video for 'Blue Velvet', which was used for an H&M advertising campaign, here: