The award was created in 2007 after being endowed by John Hinde upon his death to commemorate his late wife, author Barbara Jefferis.
It is administered by the Australian Society of Authors and is expected to rival the Miles Franklin Award ($42,000) and the biennial Tasmania Pacific Fiction Prize ($40,000).
The announcement of the award caused a minor controversy in Australian literary circles due to its target.
Susan Wyndham, journalist and literary editor, best summarises the issue in the questions opening her article in The Sydney Morning Herald Blogs: "Does Australia need a new fiction award that encourages 'positive' portrayals of women and girls?
[1] Several writers have supported the award, including Tom Keneally, Helen Garner, Frank Moorhouse, Gerald Murnane, Anne Deveson, Kerryn Goldsworthy and Brian Castro.