The VinFuture Prize, the first global science and technology prize from Vietnam, on Wednesday announced its criteria for the recognition of breakthrough scientific research and technological innovations.

The VinFuture Prize was founded by Vietnam’s dollar billionaire Pham Nhat Vuong, founder and chairman of the Southeast Asian country’s biggest private conglomerate Vingroup, and his wife, Pham Thu Huong, as one of the world’s largest annual prizes in the tech and science fields.

Vuong, considered Vietnam's richest man whose asset reached $6.6 billion on Forbes’ real-time list in December 2020, and Huong have committed an initial US$100 million to fund VinFuture Foundation, which presents the awards annually.

The vision of this endeavor is to “create meaningful change in the everyday lives of millions of people by promoting breakthrough scientific research and technological innovations.”

The VinFuture Prize comprises a grand prize of $3 million and three special prizes worth $500,000 each.

According to Wednesday’s announcement on Vingroup's website, the set of criteria for The VinFuture Prize was built and unified by a council of 11 distinguished, globally renowned experts from the academic and research industries worldwide. 

The prize presenter also started accepting nominations by organizations and individuals that meet the criteria from the same day until June 7.

The list of the VinFuture Prize winners will be announced in December 2021. 

The official awards ceremony will be held in Vietnam in January 2022.

Prof. Sir Richard Henry Friend, FRS (Cavendish Professor of Physics at the University of Cambridge, 2010 Millennium Technology Prize winner), chairman of the VinFuture Prize Council, showed his confidence that the prize will honor scientific works, inventions, and solutions that bring positive impacts on the lives of millions of people on earth.

Founder Vuong said that besides honoring outstanding scientists in the world, The VinFuture Prize is also meant to promote and soon bring to life works, research, and inventions with positive values to humanity.

“I hope The VinFuture Prize can find and discover the most qualified scientists, inventors, and projects that bring great values to millions of people,” Vuong said.

The VinFuture Prize and VinFuture Foundation were debuted on December 20, 2020.

More than 200 renowned scientists from prestigious universities and research institutes in more than 20 countries have shown their interest in the prize.

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