Mr Run Run Shaw, a visionary philanthropyist, held a steadfast conviction in the power of knowledge. He recognised the critical role that scientists play in illuminating the intricate mysteries of nature, and understood that their tireless efforts are fundamental to the advancement of civilisation.
In 2002, under the auspice of Mr Shaw, the Shaw Prize Foundation was established. The inaugural Shaw Prize was presented two years later in 2004. The Shaw Prize consists of three annual awards, namely the Prize in Astronomy, the Prize in Life Science and Medicine, and the Prize in Mathematical Sciences. Each prize carries a monetary award, which has been set at of one million two hundred thousand US dollars since 2016.