Since 1977 the prize is awarded by the DFG to early career researchers as a distinction for outstanding achievement. It is intended to assist in furthering their scientific careers. The prize is not to be seen simply as a distinction of the thesis alone. Rather, prizewinners will have already established an independent scientific career since having gained their doctorates.

The prize of €20,000 is awarded on the basis of nominations received in response to an invitation for recommendations from the DFG. Nominees may be put forward by: the elected members of DFG Review Boards, all Universities and other doctorate-granting higher education institutions in Germany, the Union of the German Academies of Sciences and Humanities, the Max Planck Society, the Helmholtz Association of National Research Centres, the Fraunhofer Society, the Gottfried Wilhelm Leibniz Association. Direct applications are not accepted.