The Nobel Prize is one of the most coveted awards in the world. It has been in existence since 1895 as designated in Alfred Nobel’s will. This year’s Noel season commenced yesterday October 8 and will continue until October 15. The prizes that will be awarded are the Physics Prize, Chemistry Prize, Medicine Prize, Literature Prize, Peace Prize and the Economics Prize. First day they announced the recipient of the Medicine Prize. Three men were the recipient namely, Briton Sir Martin Evans and Americans Oliver Smithies and Mario Capecchi for their innovative effort with genes, a technique which call as gene targeting.

The five Nobel Prizes were established by the Swedish scientist Alfred Nobel in 1895 while the Economics Prize was only introduced by Sweden’s central bank in 1968 and was given as an award in the following year. All of the prizes will be announced in the Swedish capital Stockholm while the Peace Prize will be announced in Norway.

The lucky winners of the Nobel Prizes will receive a gold medal, a diploma and cash amounting to $1.53 million. Awarding will be done on December 10 on its anniversary.