Ernst von Siemens Music Prize

The international Ernst von Siemens Music Prize (German: Ernst von Siemens Musikpreis) is an annual music prize given by the Bayerische Akademie der Schönen Künste (Bavarian Academy of Fine Arts) on behalf of the Ernst von Siemens Musikstiftung (Ernst von Siemens Foundation for Music), established in 1972. The foundation was established by Ernst von Siemens (1903–1990). The prize honors a composer, performer, or musicologist who has made a distinguished contribution to the world of music. In addition to the main prize, other prizes are also given. The total prize money given is currently 3 million euros, with the winner of the main prize receiving €250,000. The prize is sometimes known as "the Nobel Prize of music".

Smaller awards are called "Förderpreis" (encouragement award). "Komponisten-Förderpreise" ("Composers' Prizes") are given to young composers for one of their works. "Förderprojekte" ("Grant-in-Aid Projects") support music festivals, concerts, musical institutions, and young musicians.

...
Wikipedia