5 things you need to know about the Nobel Prize Award

The Nobel Prize Award for 2015 kicked off on Monday with the Medicine award being announced for the 106th time.

Other announcements will continue throughout the week with Physics on Tuesday, Chemistry on Wednesday, possibly Literature on Thursday and the 2015 Nobel Peace Prize on Friday. The final Economics award will be announced on Oct 12.

Each award, which is worth 8 million Swedish kronor (RM4.2 million), will be handed out with a diploma and a gold medal on Dec 10.

Here are the five things everyone should know about this prestigious award:

1. WHO CREATED THE NOBEL PRIZES?

The prizes for medicine, physics, chemistry, literature and peace were established by the will of Alfred Nobel, a wealthy Swedish industrialist and the inventor of dynamite. The first awards were given out five years after Alfred's death in 1901.

The Economist award, however, was not created by Nobel but by Sweden's central bank in 1968. It is officially known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel.

2. SECRECY

The judges are not allowed to discuss their deliberation in determining the winners of the awards for 50 years. Based on the Nobel statutes, the judges try hard to avoid dropping hints about the winners before the announcements, but sometimes word gets out.

3. WHO CAN NOMINATE?

Anyone including university professors, lawmakers, previous Nobel laureates and the committee members themselves are eligible to submit their nominations for the Nobel Prize.

Despite keeping the nominations a secret for 50 years, there are, however, those who make their suggestions public, especially for the Nobel Peace Prize.

4. THE NORWEGIAN CONNECTION

Based on Alfred's will, the Nobel Peace Prize is to be presented in Norway while the others are given out in Sweden.

His exact reasons are unclear but during his lifetime, Sweden and Norway were joined in a union, which was dissolved in 1905.

5. WHAT DOES IT TAKE TO WIN A NOBEL?

Patience, as scientists often have to wait decades to have their work recognised by the Nobel judges. This is to ensure that their work withstands the test of time.

The Peace Prize committee is the only one that regularly rewards achievements made in the previous year. According to Alfred's wishes, that prize should go to "the person who shall have done the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congresses."