On 15 January 1831, the owner of the Ural iron-smelting plants, Pavel Demidov, established the Prize to promote the success of the sciences. In 1993, the tradition of awarding the Demidov Prize was resumed.
To create the award foundation, Demidov annually contributed 25.000 roubles to the Academy of Sciences. In total, the St. Petersburg Academy of Sciences awarded 55 full and 220 half prizes for the period from 1832 to 1865. In 1993, the tradition of awarding the Demidov Prize was resumed in Yekaterinburg.
National and non-governmental Demidov Prizes are awarded for personal outstanding contributions in the fields of natural science, physics and mathematics, economics and entrepreneurship, humanities. Scientists are awarded according to their whole academician work. Future laureates are determined by a survey of specialists in a particular field. The final decision is made by five commissions and the prize committee, which consists of Russian most influential scientists. The funds for the payment of the prizes come from the National Scientific Non-Governmental Demidov Foundation. Each winner is awarded a diploma, a gold medal in a unique malachite case-box and an amount of money equal to $10-15.000.
Translated by Elizaveta O. Ovchinnikova