Prime Minister’s Prize for Science and Prime Minister's Prize for Innovation
The Prime Minister’s Prize for Science is awarded for a significant advancement of knowledge through science. The Prime Minister's Prize for Innovation is awarded for the innovative translation of scientific knowledge into a commercially available product, service or process that has had substantial economic, social and where relevant, environmental benefits.
Each prize may be awarded to an individual or a team of up to four individuals if the achievement is the result of a collaborative team effort.
Each of these prizes comprise an award certificate, a gold medallion and lapel pin, and prize money of $250 000. Should a team be awarded the prize, each member would receive an equal portion of the prize money.
The embossed medallions are manufactured from 6.5 ounces of solid gold, with a central silver inlay with the Australian Coat of Arms ‘pad printed’ in colour. This unique process greatly enhances the medallion’s beauty and the quality of its appearance reflects its status as Australia’s most prestigious science awards.