In 2012 Dr. Samuel Yin from Taiwan set up the Tang Prize as an international scholarly award to recognize and encourage transformative research in various fields, with the hope that the Tang Prize will contribute to create another golden age for humankind. It is a concrete action to encourage and support global research and development.
The Tang Prize will be awarded on a biennial basis, with four cash prizes of more than USD 1.36 million. Should two or more candidates receive an award in the same category, the cash prize will be shared. Research projects proposed by the award winners will also receive a grant of no more than NT $ 10 million (around USD 0.32 million), to be used within five years.