Nobel Prize Foundation
Alfred B. Nobel (1833-1896) a Swedish Chemist & Engineer by profession, who invented Dynamite and making Bofors a major arms manufacturer, left Nine Million Dollars in his will to establish Nobel Prizes which are awarded annually to all those who have done best to benefit mankind without regard to Nationality in the areas of Peace, Literature, Physics, Chemistry, Physiology or Medicine and Economic Science. Winning a Nobel Prize is a life changing honor. The award attracts internationally known figure - a Scientist, a Laureate towards recognition highlighting one life's work and provide funds to continue and move ahead towards the mission. For Academics & Institutions, the prize is to attract best and brightest minds - whether students or Scholars.
At the outset, it seems odd that an inventor of a powerful explosive would establish a group of
awards which include Peace prize. But Nobel was an industrialist with conscience. He credited himself with creation of a controllable combustible that made blasting rocks and construction of canals & tunnels a relatively safe process. He also contributed to inventions of synthetic Rubber, Artificial silk and synthetic leather. He held more than 350 patents. Besides the above, he was a
lover of English literature & poetry and wrote several poems and novels. At his death, he left a library of more than 1500 books from fiction to philosophy. His family members were shocked
to learn that Nobel dictated his fortune to be used to establish Nobel prizes. They contested the
will but his wishes were executed and the first award was distributed in 1901.
In 1900, Nobel Prize Foundation was established to fulfill the intentions of Alfred Nobel's will.
The foundation is responsible for strengthening Nobel prize's position by Administration & the
development of brands and assets that have been built up during its history of more than 100
years.Nobel stipulated in his will that most of his estate be invested in "safe securities" by
creating a fund of the money so invested. The income from these investments are to be
distributed in the form of prizes. The cash prize of award is 8 Million SEK (Swedish Kroners) equivalent to 1.1 Million U.S.Dollars or 1.16 million Euros. The weight of the medal is around
175 Grams of 18 Carat Gold.which is worth 10,000 Dollars.
The committee consists of 5 members appointed by Norwegian Parliament to select he winners.
The Norwegian Selection Committee is responsible for selection of eligible candidates and
choice of Nobel peace prize laureates. Procedure for nomination starts from September with
the deadline of February next year for submission. In February - March next year, it is short
listed and sent in March - August for review of the Adviser. By October, Laureates are
chosen through majority votes and decision announced. In December, Award ceremony takes
place and prizes given.
The committee does not announce names of nominees, to media or to the candidates themselves
Information in Nobel Committee's Nomination Data base is not made public until after 50 years.
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At the outset, it seems odd that an inventor of a powerful explosive would establish a group of
awards which include Peace prize. But Nobel was an industrialist with conscience. He credited himself with creation of a controllable combustible that made blasting rocks and construction of canals & tunnels a relatively safe process. He also contributed to inventions of synthetic Rubber, Artificial silk and synthetic leather. He held more than 350 patents. Besides the above, he was a
lover of English literature & poetry and wrote several poems and novels. At his death, he left a library of more than 1500 books from fiction to philosophy. His family members were shocked
to learn that Nobel dictated his fortune to be used to establish Nobel prizes. They contested the
will but his wishes were executed and the first award was distributed in 1901.
In 1900, Nobel Prize Foundation was established to fulfill the intentions of Alfred Nobel's will.
The foundation is responsible for strengthening Nobel prize's position by Administration & the
development of brands and assets that have been built up during its history of more than 100
years.Nobel stipulated in his will that most of his estate be invested in "safe securities" by
creating a fund of the money so invested. The income from these investments are to be
distributed in the form of prizes. The cash prize of award is 8 Million SEK (Swedish Kroners) equivalent to 1.1 Million U.S.Dollars or 1.16 million Euros. The weight of the medal is around
175 Grams of 18 Carat Gold.which is worth 10,000 Dollars.
The committee consists of 5 members appointed by Norwegian Parliament to select he winners.
The Norwegian Selection Committee is responsible for selection of eligible candidates and
choice of Nobel peace prize laureates. Procedure for nomination starts from September with
the deadline of February next year for submission. In February - March next year, it is short
listed and sent in March - August for review of the Adviser. By October, Laureates are
chosen through majority votes and decision announced. In December, Award ceremony takes
place and prizes given.
The committee does not announce names of nominees, to media or to the candidates themselves
Information in Nobel Committee's Nomination Data base is not made public until after 50 years.
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