entry - здесь, наверное, в значении конкурсанта, претендента. Контекст ничего не дает, так как там это словосочетание просто упоминается. Речь идет о полученной награде. Вообще Oxford Dictionary дает такое толкование highly commended - failing to win a prize but nevertheless considered meritorious. Может быть это что-то типа приза зрительских симпатий? Вот отрывок из текста( не моего) где фигурирует данное словосочетание.
The Outstanding Papers form the backbone of the awards. Each journal published by Emerald is invited to select a winner of the "Outstanding Paper" award and up to three "Highly Commended" awards from the previous year's volume. As these are chosen following consultation amongst the journal's editorial team, many of whom will be eminent academics or managers, the winning authors will know that their paper was one of the most impressive pieces of work the team will have seen throughout last year. We often find previous winners have noted their award on their CV or list of publications.
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