The Bernard M. Gordon Prize was started in 2001 by the United States National Academy of Engineering. Its purpose is to recognize leaders in academia for the development of new educational approaches to engineering. Each year, the Gordon Prize awards $500,000 to the grantee, of which the recipient may personally use $250,000, and his or her institution receives $250,000 for the ongoing support of academic development. Although the Gordon Prize is relatively new, within engineering education, it is viewed by many to be the American equivalent of the Nobel Prize.